Understanding Recent Lot Sales in South Gulf Cove

South Gulf Cove is a significant waterfront community with approximately 15,000 lots. Development was limited before 2000 due to infrastructure challenges (water, sewage, electricity) that have since been resolved. This led to a construction boom, with over 2,000 homes built between 2002 and 2007. In the last five years, new home construction has again accelerated rapidly. Currently, about 5,000 lots have homes built on them.

Key Community Features:

• All lots have central water, sewer, and electrical power access.
• All lots have access to the community boat ramp.

Types of Lots:

Of the 15,000 total lots:

• 4,734 are Waterfront Lots: These are situated on canals with access to the Gulf of Mexico.
• 10,266 are Dry Lots: These lots are not directly on canals.

Waterfront Lot Designations:

Waterfront lots are further categorized:

• Sailboat Lots: Offer direct access to Charlotte Harbor and the Gulf of America without any fixed bridge obstructions. These are generally the most expensive waterfront lots and are primarily located in two areas: north of Calumet Boulevard and south of Appleton Boulevard.
• Powerboat Lots: Also provide Gulf access, but boats must be able to pass under fixed bridges with a clearance of approximately 10 feet.

---

Detailed Lot Sales Analysis (Recent & Historical)

Below is a breakdown of recent sales activity and historical price trends for different lot types in South Gulf Cove. (Note: "Recent" generally refers to the last 6 months unless specified otherwise.)

1. Sailboat Lots with Seawalls (North of Calumet Blvd)

Description: Located east of Welsford, including streets like Margo, Meachem, Arlewood, Leipzig, Chinook, and Aquarius. All have seawalls and are closest to the lock accessing Charlotte Harbor, making them typically the most expensive lots.

• Recent Sales (last 6 months):
  • 3lots sold
  • Price Range: $215,000 - $220,000
  • Median Sale Price: $220,000
• Current Inventory:
  • 12 lots for sale
  • Median Asking Price: $250,000
• Historical Context:
  • 2019: Median Price $110,000 (7 sales)
  • 2018: Median Price $104,500 (6 sales)
  • 2016: Median Price $130,000 (7-8 sales annually 2013-2016)
  • 2021-2022 Peak: 35 lots sold, Median Price $175,000
  • 2011 Low: 10 lots sold, Median Price $73,000 (Range: $62,500 - $95,000)
  • 2005 Peak: 24 lots sold, Median Price $400,000 (Range: $308,000 - $500,000)

---

2. Sailboat Lots with Seawalls (South of Appleton Blvd)

Description: These lots are further from the lock (5+ miles) than those north of Calumet, resulting in lower prices. Lots off Sunday Drive, Monticello Drive, Havana Circle, and Aztec Circle typically have seawalls. Lots west of these areas often do not. (A concrete seawall for a standard lot costs approx. $30,000 - $40,000).

• Recent Sales (last 180 days):
  • 5 lots sold
  • Median Sale Price: $145,000
• Current Inventory:
  • 8 lots for sale
  • Price Range: $125,000 - $290,000
  • Median Asking Price: $140,000
• Historical Context:
  • 2019: 11 lots sold, Median Price $60,000 (Range: $47,000 - $120,800)
  • 2021 Peak: 27 lots sold, Median Price $105,000
  • 2011 Low: 13 lots sold, Median Price $38,000 (Range: $20,000 - $60,000)
  • 2005 Peak: 34 lots sold, Median Price $290,000 (Range: $225,000 - $530,000)

---

3. Sailboat Lots without Seawalls (South of Appleton Blvd)

• Recent Sales (last 6 months):
  • 2 lots sold
  • Median Sale Price: $120,000
• Previous Year (same period):
  • 6 lots sold, Median Price $137,000
• Current Inventory:
  • 11 lots for sale
  • Median Asking Price: $149,000

---

4. Powerboat Lots with Seawalls (South of Calumet Blvd & North of Ingram Blvd)

Description: Gulf access lots requiring passage under 10-foot bridges. Prices vary by seawall presence, distance to lock, lot size, and view quality.

• Recent Sales (last 6 months):
  • 2 lots sold
  • Median Sale Price: $132,000
• Current Inventory:
  • 21 lots for sale
  • Price Range: $150,000 - $440,000 
  • Median Asking Price: $185000
• Historical Context:
  • 2021 Boom: 73 lots sold, Median Price $118,500
  • 2012 Low: 25 lots sold, Median Price $50,000 (Range: $20,000 - $99,000)
  • 2005 Peak: 75 lots sold, Median Price $265,000 (Range: $205,000 - $450,000)

---

5. Powerboat Lots without Seawalls (South of Ingram Blvd & North of Appleton Blvd)

• Recent Sales (last 6 months):
  • 24 lots sold
  • Price Range: $70,000 - $105,000
  • Median Sale Price: $90,000
• Current Inventory:
  • 104 lots for sale
  • Price Range: $75,000 - $170,000
  • Median Asking Price: $109,000
• Historical Context:
  • 2019 (same period): 25 sales, Median Price $45,000
  • 2011 Low: 36 lots sold, Median Price $23,518 (Range: $12,000 - $50,000)
  • 2005 Peak: 341 lots sold, Median Price $209,000 (Range: $145,000 - $530,000)

---

6. Dry Lots (Premium Zones Accross the Street From canal Lots)

• Recent Sales (last 6 months):
  • 10 lots sold
  • Median Sale Price: $35,000
• Previous Year (same period):
  • 32 lots sold, Median Price $35,000
• Current Inventory:
  • 80 lots for sale
  • Median Asking Price: $45,000

---

7. Dry Lots (Other Zones)

• Recent Sales (last 6 months):
  • 58 lots sold
  • Price Range: $18,000 - $30,000
  • Median Sale Price: $22,000
• Current Inventory:
  • 138 lots for sale (down from previous high levels over 500 due to active builder buying)
  • Price Range: $18,000 - $30,000
  • Median Asking Price: $28,000

---

Expert Valuation: If you would like an expert estimate of the value of your lot or a lot you are interested in buying, please contact Al Broslat at abroslat@gmail.com or call/text 941-661-2577.

---