Real estate sales down but average prices rise
High real estate prices in Boca Grande are giving the rest of the Cape Haze peninsula and the neighboring islands a price boost.
“Palm Island has really gone through the roof in the last three years,” said Brian R. Corcoran, owner and broker for BRC Group. “Anything nice on Palm Island is being snapped up quickly.”
With Gasparilla Island properties about triple the price, Palm Island and Manasota Key are starting to look pretty good for some buyers. Corcoran said that new prospects have begun to understand that there are basic services on Palm Island, as well as paved streets and trash pickup.
Across the market, current buyers are opting to forego conventional financing. “Anything over $3 million is going to be cash,” said Corcoran.