Somerset Oceanfront Condos Sales and Price Trends

Last Updated 2018-05-12

What’s My Unit Worth?

Of course, we don’t know.
But we do have perfect hindsight into how sales have trended at Somerset over the years.

Caution!
If you’re going to sell your unit, you need a broader view of all sales in our area, not just the recent sales at Somerset. This is where a realtor can come in handy (and feel free to share this data with them!)

Here we summarize the annual sales trends using every single sale of every Somerset unit beginning with the first sale in 2003.

Next we’ll explain how this information can be used to help in calculating a "back of the napkin" value for a specific unit.

Somerset Oceanfront Yearly Sales Trends
Year Units
Sold
Sale
Totals
2003
 Basis1
Totals
Sales
as % of
2003
Basis
2018 2 $1,197,000 $819,800 146 %
2017 8 $4,877,500 $3,574,200 136 %
2016 8 $4,237,500 $2,984,200 141 %
2015 12 $6,350,100 $4,868,800 130 %
2014 4 $1,885,000 $1,489,600 126 %
2013 10 $4,781,500 $4,334,000 110 %
2012 11 $5,011,000 $4,878,900 102 %
2011 11 $4,298,899 $4,158,900 103 %
2010 11 $4,271,100 $4,278,900 99 %
2009 9 $4,013,900 $3,489,100 115 %
2008 6 $2,990,600 $2,529,400 118 %
2007 7 $3,857,600 $2,674,300 144 %
2006 9 $5,962,300 $3,934,100 151 %
2005 16 $10,693,111 $6,543,400 163 %
2004 83 $43,637,500 $33,941,700 128 %
2003 63 $26,104,200 $25,413,700 102 %
1 For each unit sold we accumulate that unit's Basis into the 2003 Basis column.  A unit's Basis is the 2003 pre-construction list price for the same unit in Building #3 -- the first of the 4 buildings to be completed.
It will always be the last sale listed in the tables below, highlighted in this color.

Complete Sales History

Calculating a back-of-the-napkin value for a unit.

If you’d like to find the value for a specific unit using the above chart (let’s assume its a Mediterranean unit on the 6th floor), you would:

  1. Find the Basis value we used for that unit in the tables below (using its floor number and floor plan.)
    For our example unit you’d scroll to the table for the 6th floor (below), then look at the center column (Mediterranean), and find $399,900 in the bottom row.  This is the unit’s Basis.
  2. Adjust the Basis for the unique characteristics of the unit (see assumptions).
    Let’s say the unit has two garages, so you add $25,100 for the extra garage.
    Your adjusted Basis is now $425,000.
  3. Guided by the Sales Trend table (above), pick a growth rate you’re confortable with, and then multiply your adjusted Basis by that percentage.
    You decide to go with 112%. So, you multiply $425,000 x 1.12 to get a value of $476,000.
  4. If you’re selling or buying the unit, take your calculations (and a printed copy of this page) to your agent.  They’ll help you adjust the value for other market conditions and come up with a target price.

Somerset’s Buildings and Units

Somerset has 120 units split evenly between 4 identically-configured buildings. Each building has covered, deeded parking on the ground floor, and 6 more floors, with 5 units on each floor.

Unit Numbers are 4 numeric digits. The first is the building number (1-4). The second is the floor number (2-7), and the last two are the unit number (01,02,03,04,05).
For example, unit number 2304 is in building 2, on floor 3, and is unit 04.

  • Catabrianne
    This is the center of the 5 units on each floor, and is the smallest floor plan.
    The last two digits of this unit number is 03
  • Mediterranean
    There are two of these, one on either side of the center unit.
    They share the same (but mirrored) floor plans.
    The last two digits of the northernmost’s unit number ends in 02, the other ends in 04
  • Atlantic
    These are the largest of the 5 units; one at the north end of the floor (unit number ends in 01), the other at the south end (ends in 05).
    They share the same (but mirrored) floor plans.

Assumptions

Given that some units have never been re-sold, and that some that have sold, haven’t been sold recently, we must gather units into groups in order to see a realistic annual Trends.

These groups should be big enough that they include recent sales.  But they should be small enough to preserve what really matters in the market:

  • The floor number matters.
    The higher the floor, the more it’s worth.
  • The floor-plan matters.
    Larger units (and end units, which have a unique floor plan) sell for more.

So, we group together units that are on the same floor and that share the same floor plan -- even if they are in different buildings.

Units can vary in their flooring and sliders; have a different number of parking spots (some with private entrances).   Some units are sold with furnishings included.   Some unit sales are between family members, so the price might not be a "fair market price".

So, under no conditions should this data be used to establish the current market value of (or sale price for) a specific unit!

Since we only distinguish between floor number and floor plans, we provide one table for each floor. Each table contains 3 columns of sales (ordered by date), one for each floor plan.

This table includes all sales recorded in the Brevard County Property Appraiser (public) web site as of 2018-05-12 .

Somerset Oceanfront Unit Sales by Floor Plan within Floor
7th Floor Units
Atlantic Floor Plans
(End Units)
x701 & x705 Units
Unit Date Amount % of
Basis
2701 04/11/2017 $750,000 140%
4701 04/10/2017 $662,500 123%
4705 01/03/2017 $735,000 137%
3705 12/14/2015 $650,000 121%
1705 01/29/2015 $580,000 108%
4705 06/13/2013 $624,500 116%
4701 02/09/2012 $598,000 111%
1701 03/31/2010 $442,000 82%
2705 10/21/2008 $510,000 95%
4701 03/24/2008 $795,900 148%
4705 08/10/2007 $645,000 120%
3705 12/27/2006 $799,900 149%
2701 12/09/2005 $840,000 157%
2705 06/15/2005 $890,000 166%
4705 06/07/2005 $206,311 38%
3705 02/07/2005 $799,900 149%
1705 07/26/2004 $664,900 124%
1701 06/30/2004 $659,900 123%
2705 05/21/2004 $790,000 147%
2705 03/24/2004 $599,900 112%
2701 03/15/2004 $582,000 108%
4705 09/04/2003 $565,000 105%
3701 07/28/2003 $534,900 Basis
Mediterranean Floor Plans

x702 & x704 Units
Unit Date Amount % of
Basis
4702 03/29/2017 $570,000 123%
1702 11/23/2015 $585,000 127%
3704 03/28/2013 $445,000 96%
2702 12/27/2012 $464,000 100%
2704 04/20/2012 $465,000 101%
1704 10/26/2007 $545,000 118%
4704 10/15/2004 $710,000 154%
1704 07/12/2004 $569,900 123%
3702 07/09/2004 $595,000 129%
1702 06/21/2004 $569,900 123%
4702 03/31/2004 $598,900 130%
2704 03/03/2004 $524,900 114%
2702 02/25/2004 $569,900 123%
4704 02/25/2004 $574,900 125%
3704 07/10/2003 $459,900 100%
3702 07/09/2003 $459,900 Basis
Catabrianne Floor Plans
(Center Units)
x703 Units
Unit Date Amount % of
Basis
2703 05/30/2017 $535,000 146%
1703 02/25/2015 $490,000 134%
3703 04/30/2012 $417,000 114%
2703 07/26/2011 $379,000 103%
4703 02/01/2011 $323,000 88%
3703 01/07/2010 $375,000 102%
1703 08/05/2005 $670,000 183%
2703 03/10/2005 $650,000 178%
1703 07/16/2004 $484,900 132%
3703 03/31/2004 $475,000 130%
4703 11/21/2003 $455,000 124%
4703 09/19/2003 $364,900 100%
3703 07/30/2003 $364,900 Basis
6th Floor Units
Atlantic Floor Plans
(End Units)
x601 & x605 Units
Unit Date Amount % of
Basis
2605 01/05/2016 $620,000 126%
2601 06/06/2013 $545,000 111%
1605 05/10/2012 $430,000 87%
4601 04/26/2012 $480,000 97%
2601 07/28/2009 $511,900 104%
4601 03/16/2009 $567,000 115%
4601 07/19/2006 $660,000 134%
4605 04/20/2006 $695,000 141%
1605 12/02/2004 $795,000 162%
3601 09/30/2004 $749,000 152%
1605 06/29/2004 $599,900 122%
1601 06/22/2004 $399,900 81%
4601 03/11/2004 $610,000 124%
3601 03/11/2004 $635,000 129%
2601 02/27/2004 $524,900 107%
2605 02/24/2004 $544,900 111%
4605 01/07/2004 $465,000 94%
4605 10/02/2003 $464,900 94%
4601 09/26/2003 $489,900 100%
3601 07/11/2003 $464,900 94%
3605 06/26/2003 $489,900 Basis
Mediterranean Floor Plans

x602 & x604 Units
Unit Date Amount % of
Basis
2604 12/21/2017 $535,000 133%
3602 07/02/2011 $340,000 85%
4604 04/25/2011 $438,900 109%
4604 07/01/2010 $351,500 87%
4604 03/29/2006 $669,900 167%
1602 06/21/2004 $650,000 162%
1602 06/18/2004 $509,900 127%
1604 06/10/2004 $509,900 127%
2604 05/26/2004 $615,000 153%
2602 03/23/2004 $464,900 116%
2604 03/17/2004 $464,900 116%
4604 09/29/2003 $389,900 97%
4602 09/18/2003 $463,900 116%
4602 09/17/2003 $379,900 94%
3604 07/11/2003 $464,900 116%
3602 07/11/2003 $399,900 Basis
Catabrianne Floor Plans
(Center Units)
x603 Units
Unit Date Amount % of
Basis
3603 08/25/2015 $475,100 141%
2603 04/28/2015 $510,000 152%
2603 02/10/2014 $415,000 123%
3603 11/07/2007 $474,000 141%
4603 11/14/2005 $580,000 173%
3603 08/09/2004 $575,000 171%
1603 07/08/2004 $577,000 172%
1603 07/06/2004 $474,900 141%
2603 02/27/2004 $409,900 122%
4603 09/09/2003 $334,900 100%
3603 06/30/2003 $334,900 Basis
5th Floor Units
Atlantic Floor Plans
(End Units)
x501 & x505 Units
Unit Date Amount % of
Basis
4501 07/22/2013 $495,000 110%
3505 03/06/2013 $425,000 94%
2505 10/20/2010 $455,000 101%
4501 06/12/2006 $650,000 144%
3505 01/28/2005 $790,000 175%
1505 06/30/2004 $584,900 130%
1501 06/25/2004 $564,900 125%
2505 03/22/2004 $529,900 117%
2501 03/03/2004 $509,900 113%
3501 01/16/2004 $615,000 136%
4501 11/21/2003 $555,000 123%
3505 10/10/2003 $532,000 118%
4501 09/30/2003 $449,900 100%
4505 09/18/2003 $434,900 96%
4505 09/18/2003 $530,000 117%
3501 07/10/2003 $449,900 100%
3505 06/27/2003 $449,900 Basis
Mediterranean Floor Plans

x502 & x504 Units
Unit Date Amount % of
Basis
3502 04/27/2017 $565,000 144%
3502 03/30/2016 $525,000 134%
3504 11/11/2013 $443,000 113%
2502 06/25/2012 $432,000 110%
1504 05/27/2011 $400,000 102%
4504 04/02/2010 $355,000 91%
3502 03/10/2010 $429,000 110%
1502 06/14/2004 $499,900 128%
1504 06/11/2004 $499,900 128%
2502 03/24/2004 $454,900 116%
2504 02/25/2004 $454,900 116%
4504 10/07/2003 $459,900 117%
4502 09/08/2003 $394,900 101%
3502 06/24/2003 $389,900 100%
3504 06/13/2003 $389,900 Basis
Catabrianne Floor Plans
(Center Units)
x503 Units
Unit Date Amount % of
Basis
3503 12/15/2015 $475,000 146%
2503 11/15/2013 $419,000 128%
2503 12/17/2009 $375,000 115%
4503 06/30/2005 $635,000 195%
1503 07/01/2004 $439,900 135%
2503 03/23/2004 $399,900 123%
4503 09/30/2003 $324,900 100%
3503 06/11/2003 $324,900 Basis
4th Floor Units
Atlantic Floor Plans
(End Units)
x401 & x405 Units
Unit Date Amount % of
Basis
4405 05/11/2015 $595,000 136%
3405 02/12/2015 $530,000 121%
4405 12/21/2006 $678,000 155%
2401 07/28/2005 $775,000 178%
1405 07/06/2004 $564,900 129%
1401 06/25/2004 $544,900 125%
2401 03/12/2004 $514,900 118%
2405 03/12/2004 $509,900 117%
4405 09/22/2003 $419,900 96%
4401 09/09/2003 $434,900 100%
3405 07/31/2003 $434,900 100%
3401 06/17/2003 $434,900 Basis
Mediterranean Floor Plans

x402 & x404 Units
Unit Date Amount % of
Basis
3404 08/25/2014 $435,000 114%
4404 08/15/2012 $440,000 115%
3402 02/27/2012 $430,000 113%
2402 10/07/2011 $440,000 115%
2404 04/23/2010 $415,000 109%
3404 01/14/2009 $420,000 110%
2402 02/05/2008 $407,000 107%
2402 01/22/2007 $675,000 177%
1402 06/25/2004 $484,900 127%
1404 06/10/2004 $484,900 127%
2402 03/24/2004 $439,900 115%
2404 03/05/2004 $439,900 115%
3404 01/23/2004 $485,000 127%
4402 9/17/2003 $379,900 100%
4404 09/09/2003 $354,900 93%
3404 07/09/2003 $379,900 100%
3402 06/18/2003 $379,900 Basis
Catabrianne Floor Plans
(Center Units)
x403 Units
Unit Date Amount % of
Basis
2403 11/04/2016 $540,000 171%
1403 06/28/2011 $310,000 98%
2403 08/03/2010 $352,500 111%
3403 11/13/2006 $459,500 145%
4403 08/08/2005 $620,000 196%
1403 07/23/2004 $540,000 171%
1403 06/30/2004 $424,900 134%
2403 02/27/2004 $384,900 122%
3403 06/26/2003 $314,900 Basis
3rd Floor Units
Atlantic Floor Plans
(End Units)
x301 & x305 Units
Unit Date Amount % of
Basis
1301 11/24/2014 $530,000 127%
3301 08/16/2013 $480,000 115%
4305 04/15/2011 $476,800 114%
4305 02/02/2011 $386,199 93%
1305 07/12/2010 $376,100 90%
4301 09/21/2009 $475,000 114%
1305 10/01/2005 $767,900 185%
1305 07/02/2004 $549,900 132%
1301 06/07/2004 $529,900 127%
2301 03/12/2004 $474,900 114%
2305 03/08/2004 $519,900 125%
4305 12/12/2003 $550,000 132%
4301 09/24/2003 $399,900 96%
4305 09/19/2003 $399,900 96%
3305 07/10/2003 $414,900 100%
3301 06/30/2003 $414,900 Basis
Mediterranean Floor Plans

x302 & x304 Units
Unit Date Amount % of
Basis
4304 07/20/2016 $512,000 142%
2302 10/28/2014 $505,000 140%
3302 11/18/2011 $415,000 115%
4302 06/20/2009 $421,000 116%
3304 08/19/2008 $427,700 118%
4304 07/09/2008 $425,000 118%
2304 04/14/2008 $425,000 118%
2302 11/01/2004 $650,000 180%
1304 06/24/2004 $474,900 131%
1302 06/22/2004 $569,900 158%
1302 06/16/2004 $474,900 131%
2304 03/24/2004 $429,900 119%
2302 02/26/2004 $454,900 126%
4302 12/03/2003 $460,000 127%
4304 09/17/2003 $349,900 97%
4304 09/17/2003 $423,500 117%
4302 09/12/2003 $349,900 97%
3304 06/30/2003 $369,900 102%
3302 06/23/2003 $359,900 Basis
Catabrianne Floor Plans
(Center Units)
x303 Units
Unit Date Amount % of
Basis
3303 09/23/2016 $478,000 149%
2303 06/01/2010 $355,000 110%
4303 04/19/2010 $365,000 114%
4303 03/31/2009 $439,000 137%
3303 11/19/2007 $470,000 146%
1303 06/29/2004 $414,900 129%
3303 03/31/2004 $520,000 162%
2303 03/22/2004 $374,900 117%
3303 02/05/2004 $449,400 140%
4303 09/22/2003 $319,900 Basis
2nd Floor Units
Atlantic Floor Plans
(End Units)
x201 & x205 Units
Unit Date Amount % of
Basis
1205 02/22/2018 $632,000 135%
4205 11/09/2016 $575,000 123%
2201 06/25/2015 $540,000 116%
1201 09/04/2013 $460,000 98%
1205 08/13/2012 $390,000 83%
3201 01/28/2012 $465,000 100%
3205 06/06/2006 $675,000 145%
4201 02/15/2005 $650,000 139%
1201 07/12/2004 $524,900 112%
1205 06/25/2004 $519,900 111%
2201 03/26/2004 $444,900 95%
2205 02/23/2004 $464,900 100%
4201 09/24/2003 $394,900 84%
4205 09/12/2003 $435,000 93%
3201 07/01/2003 $394,900 84%
3205 06/26/2003 $464,900 Basis
Mediterranean Floor Plans

x202 & x204 Units
Unit Date Amount % of
Basis
4202 01/18/2018 $565,000 159%
3204 07/24/2017 $525,000 147%
2202 01/22/2016 $500,000 140%
1202 08/18/2015 $470,000 132%
3202 01/31/2013 $445,000 125%
2202 09/06/2011 $390,000 109%
4202 11/17/2009 $395,000 111%
4204 06/20/2009 $410,000 115%
1204 03/06/2007 $595,000 167%
2204 01/05/2006 $675,000 190%
1202 09/16/2005 $650,000 183%
1204 07/26/2004 $589,000 165%
1202 07/13/2004 $450,000 126%
1204 06/18/2004 $459,900 129%
2202 03/05/2004 $414,900 116%
3204 03/03/2004 $498,000 140%
4204 03/03/2004 $525,000 147%
4204 12/26/2003 $455,000 128%
4204 10/02/2003 $399,900 112%
4202 09/12/2003 $354,900 100%
3204 07/08/2003 $354,900 100%
3202 06/10/2003 $354,900 Basis
Catabrianne Floor Plans
(Center Units)
x203 Units
Unit Date Amount % of
Basis
2203 10/26/2016 $487,500 168%
1203 10/22/2015 $450,000 155%
2203 09/18/2007 $453,600 156%
2203 09/01/2005 $589,000 203%
3203 05/11/2005 $580,000 200%
1203 03/24/2004 $579,900 200%
2203 03/23/2004 $359,900 124%
4203 10/02/2003 $289,900 100%
3203 06/19/2003 $289,900 Basis

 


All information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Sales and Sales Trend information is provided for consumer personal, non-commercial use; all other use is strictly prohibited and may violate relevant federal and state law.
This site is provided by Somerset Residents Ron & Susan Rockhold.