Recent South Gulf Cove Lot Sales

South Gulf Cove has 15,000 lots of which about 10% have houses built. There was little construction before the year 2000 due to previous infrastructure issues related to water, sewage and electricity. Most of the existing 1,200+ houses were built between 2002 and 2007.

Of the 15,000 lots, 4,734 are waterfront lots on canals with Gulf of Mexico access. The remaining 10,266 lots are dry lots. All lots in South Gulf Cove have central water and sewer plus electrical power access.

The 4,734 waterfront lots are divided into "sailboat" and "powerboat" lots. The sailboat lots have access to Charlotte Harbor and the Gulf of Mexico without going under any fixed bridges. The powerboat lots have the same Gulf of Mexico access but the boats have to pass under 10 foot high bridges. Sailboat lots have a significant price premium over powerboat lots. The sailboat lots are located in two places:

1. North of Calumet Blvd and east of Welsford. The main street names are Margo, Meachem, Arlewood, Leipzig, Chinook, and Aquarius. All of these lots have seawalls and they are in the zone closest to the lock that give access to Charlotte Harbor. These sailboat lots are usually the most expensive lots in South Gulf Cove.

2. South of Appleton. These sailboat lots usually don't have seawalls ( a concrete seawall for a normal sized lot costs about $20,000 ) and they have a much longer distance to the lock.

All of the remaining canal lots are powerboat lots. Prices of these lots vary according to whether or not they have a seawall, the distance to the lock, the size of the lot, and the quality of the waterview.

For the purpose of tracking prices, lots will be divided into the following categories:

1.Sailboat lots north of Calumet

2. Sailboat lots south of Appleton

3.Powerboat lots with seawalls

4.Powerboat lots without seawalls

5.Dry lots accross the street from canal lots

6.Dry lots accross the street from dry lots



Sailboat Lots North of Calumet
------------------------------

Since November 1 ,2009 there have been two sales, one for $91,500 and one for $85,000. At the market top in 2005, lots like these sold for over $400,000.

Sailboat Lots South of Appleton
-------------------------------

Since November 1, 2009 there have been 9 sales. The high price was $61,500, low price was $40,000, and median price was $49,333.

Powerboat Lots With Seawalls
----------------------------

Since November 1, 2009 there have been two sales. One at $60,000 and one at $50,000. At the market top in 2005, lots like these sold for $300,000 and up.

Powerboat Lots Without Seawalls
-------------------------------

Since November 1, 2009, there have been 14 sales. The high price was $50,000, the low price was $26,100, the median price was $34,500.

Dry Lots Accross the Street From Canal Lots
-------------------------------------------

Since November 1, 2009 there have been 6 sales. The high price was $15,000, the low price was $9,000, the median price was $10,000. At the market top in 2005, lots like these sold for $60,000 to $100,000.

Dry Lots Accross the Street From Dry Lots
-----------------------------------------

Since November 1, 2009 there have been 37 sales. The high price was $9,000, the low price was $4,000, the median price was $5,500.