Smith and Associates Reports High Demand for Multi-Million Dollar Homes and Record Sales
Penthouse Condo in Pinellas County Sells for $5M
Tampa Bay continues to see high demand for multi-million dollar properties. Despite the economic slowdown and global pandemic, Smith & Associates Real Estate has recorded record sales in Hillsborough and Pinellas County.
In the past two weeks, Smith & Associates recorded three sales in the past two weeks that have topped $4 million - 114 Martinique Avenue for a near record-breaking $9.1M, 5114 W. Longfellow Avenue for $4M, and 100 1st Avenue N Residence 4103 for $5.1M.
“Tampa Bay’s luxury markets have thrived in 2020. We are finding buyers are hyper-focused on finding homes offering the best lifestyle options to fit their needs. With limited ability to travel, people are sending more time at home and they are reassessing their changing needs. This has created an uptick in demand for finding homes that can be their haven from the outside world." says Bob Glaser, President & CEO of Smith & Associates. The company is the market leader for Hillsborough and Pinellas Counties combined in sales over $1M+, with 19% of the market share, as well as dominating the over $3M+ and $5M market, where the company has represented over 24% of all luxury sales in each of those segments.
Gary Hess, a Realtor for Smith & Associates Real Estate, sold his and husband, Trevor Burgess’, penthouse condominium in the luxury high-rise tower, ONE St. Petersburg, for $5.1M. This breathtaking downtown St. Pete penthouse is located on the 41st floor at 100 1st Avenue N. It offers a spacious 3,910 square foot interior, with four well-appointed bedrooms and three bathrooms, and 360-degree panoramic views of the city, the Bay and the newly completed pier and Janet Ecleman art installation. The sale marks the highest real estate transaction of the year for a Pinellas County condo and contributes to a trend of significant luxury property sales in the last six months.