Located on the central west coast of Florida, Treasure Island is attractive to people who want to live in the St. Petersburg area, and local Realtors say the area is heating up just when other markets are cooling down.

"Treasure Island is located in Pinellas County, on the central west coast of Florida," explains Realtor Richard E. Golf. "Some nearby cities include St. Pete Beach, Treasure Island, South Pasadena, and St. Petersburg. Pinellas County is home to the Salvadore Dali Museum, Ft. De Soto State Park, and beautiful Florida beaches."

"Although interest rates are the highest they have been since 2002," says Golf, "they are still historically low. In June, statewide sales rose 14 percent to a total of 18,828 homes sold, up from 16,476 homes a year ago, according to the Florida Association of Realtors."

About the Treasure Island market, Golf says, "New condos and townhomes are selling out quickly, with most units selling before the buildings are completed. These are very attractive to the discriminating buyer who wants to pick their own flooring and fixtures, as well as those seeking pre-construction prices.

"With waterfront property nearly extinct," he advises, "there is also an uptrend in tear-downs and rebuilds in waterfront communities."

Says Realtor Patty Bridges, "Even with a slight increase in mortgage rates, the greater St. Petersburg area, including Treasure Island, remains a strong market as we move toward the traditionally brisk fall and winter home selling season. Prices continue to rise, especially for waterfront and beach properties. The only evidence of any softening in sales is being seen in the high price range where the rise in prices has slowed or plateaued. For that reason, sellers who have overpriced their homes are seeing them sit on the market with fewer showings and offers."

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Published: November 17, 2003

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