"The condo market in Indian Rocks Beach is telling a very different story than the single-family side right now. With 47 active listings and only 2 closings in April, supply is significantly outpacing demand. The properties that are selling are pool-accessible and priced for today's market. Buyers have leverage they did not have two years ago, and the data on original list prices shows that sellers who have not accepted that reality yet are paying for it in both time and money."
The full buyer guide covers zoning verification, HOA document review, condo financing, FEMA risk, and the SHORE Framework applied to this market.
Read the Buyer FAQ →Income documentation, pricing strategy, protecting your booking calendar, and why the going concern sale structure produces higher net proceeds.
Read the Seller FAQ →STR-Eligible Condos and Condo-Hotels Only
This report covers condominiums and condo-hotels in Indian Rocks Beach that qualify for short-term rental use under Indian Rocks Beach Ordinance 2023-02, which permits nightly rentals with no minimum stay. Properties are cross-referenced against the IRB STR-approved building list. Not all condos in Indian Rocks Beach are STR-eligible. Buyers must verify current eligibility for any specific unit and building before making decisions.
This report is published separately from the single-family report because condo and single-family investors face different market conditions, different financing requirements, and different due diligence obligations under Florida law. This is the first in a monthly condo series; month-over-month comparisons begin with the June 2026 report.
Condo vs. Condo-Hotel: This report includes both standard condominiums and condo-hotels. A condo-hotel is a property type classified differently for financing purposes. Conventional Fannie Mae and Freddie Mac financing is generally not available for condo-hotel units. Buyers of condo-hotel properties typically use portfolio lenders, DSCR loans, or cash. Harbourside at Marker 33 at 399 2nd Street is the primary condo-hotel complex represented in this dataset. Buyers should confirm financing options with a lender experienced in non-warrantable condo products before making an offer.
A Tale of Two Transactions
April produced only two condo closings in the IRB STR-eligible market. Both were pool-accessible properties. Both sold at strong ratios relative to list price. Beyond those two data points, the condo market in April was largely a story of supply waiting for buyers who have not yet arrived in volume.
On the 2-sale sample: With only two closings in April, statistical measures like median sale price are less meaningful than in the single-family report. The two sales are presented individually below rather than as aggregated statistics. Trend analysis will become more reliable as this monthly series accumulates data.
Source: StellarMLS. Closed data: STR-eligible condos and condo-hotels, Indian Rocks Beach FL, April 1-30, 2026. Active and pending as of May 12, 2026.
The Two Properties That Sold and What They Tell Us
Both April condo closings were pool-accessible properties that achieved near-list-price results. One sold in 22 days at full original ask. The other took 151 days and required a price reduction from original ask before going under contract. Together they illustrate the same pattern seen in the single-family market: correct pricing from day one produces the best outcome.
| Address | Building | OLP | Sale Price | SP / OLP | DOM | Pool | Sale Date |
|---|---|---|---|---|---|---|---|
| 2 15th Ave #304 | Chez Soleil | $1,659,000 | $1,590,000 | 96% | 22 days | Yes | 04/01/2026 |
| 1300 Gulf Blvd #202 | Beachwalk | $849,000 | $787,500 | 93% | 151 days | Yes | 04/13/2026 |
Chez Soleil #304 was listed at $1,659,000 and sold at $1,590,000, achieving 96% of original ask in 22 days. It was priced at market from day one and moved accordingly. Beachwalk #202 started at $849,000, reduced to $825,000, and sold at $787,500 after 151 days, achieving 93% of original ask. The price reduction bought a sale; strategic pricing from the start might have produced a better outcome sooner.
Source: StellarMLS. SP/OLP calculated from original list price at time of initial MLS entry. Indian Rocks Beach FL, April 2026.
47 Active Listings Across Multiple Buildings
The active condo inventory spans a wide range of buildings, price points, and property types. The median active list price is $649,900 with a median of 89 days on market. A significant number of active listings have already taken price reductions from original ask and continue to wait for buyers.
Windrush Cove (1 Windrush Blvd): 12 Active Units
Harbourside at Marker 33 (399 2nd St): 6 Active Units
Happy Fiddler (60 Gulf Blvd): 3 Active Units
Reflections on the Gulf (900 Gulf Blvd): 3 Active Units
Additional active buildings include Fifty Gulfside, Windward Bay, Beachside Villas, Chateaux, Indian Sunset Beach, Sunraker West, Sunset Paradise, Beach House of Indian, Bella Capri, Palms at 1800, Shalimar, and others. See full active list in StellarMLS or contact Cyndee Haydon for a current filtered report.
Source: StellarMLS as of May 12, 2026.
OLP Reductions in the Active Inventory
Multiple active listings have taken significant reductions from their original list price and remain unsold. The pattern is consistent with the single-family market: the longer a property sits, the more it typically costs the seller in final outcome. Below are the most notable examples among current active listings.
| Address | OLP | Current Ask | Price Cut | DOM |
|---|---|---|---|---|
| 50 Gulf Blvd #207 | $649,000 | $525,000 | -$124,000 | 224 days |
| 399 2nd St #217 Condo-Hotel | $735,000 | $649,900 | -$85,100 | 368 days |
| 1 Windrush Blvd #87 | $399,900 | $349,900 | -$50,000 | 98 days |
| 1 Windrush Blvd #28 | $378,000 | $338,900 | -$39,100 | 273 days |
| 399 2nd St #417 Condo-Hotel | $778,998 | $749,998 | -$29,000 | 358 days |
| 1 Windrush Blvd #54 | $369,000 | $349,000 | -$20,000 | 289 days |
| 1 Windrush Blvd #45 | $329,000 | $285,000 | -$44,000 | 146 days |
| 19440 Gulf Blvd #209 | $649,900 | $579,900 | -$70,000 | 229 days |
| 399 2nd St #219 Condo-Hotel | $799,000 | $779,000 | -$20,000 | 154 days |
| 60 Gulf Blvd #402 | $1,200,000 | $1,145,000 | -$55,000 | 274 days |
Source: StellarMLS as of May 12, 2026. OLP = Original List Price at time of initial MLS entry.
4 Contracts Under Way
Four condo units are currently under contract. Three of the four took significant reductions from original ask before going under contract, reinforcing the pricing discipline theme across both the condo and single-family markets. One closed quickly at a price that reflects realistic market expectations from day one.
| Address | Building | OLP | Pending Price | DOM | Pool |
|---|---|---|---|---|---|
| 2110 Gulf Blvd #8 | Sea Treat | $385,000 | $375,000 | 167 days | No |
| 1 Windrush Blvd #51 | Windrush Cove | $469,875 | $435,000 | 223 days | No |
| 44 Gulf Blvd #204 | Casa Velero | $799,900 | $649,900 | 220 days | Yes |
| 102 Gulf Blvd #401 | Oceanside of Indian | $1,075,000 | $1,075,000 | 21 days | Yes |
Casa Velero #204 stands out: original ask $799,900, now pending at $649,900 after 220 days. That is a $150,000 reduction from original ask. Oceanside #401 went under contract in 21 days at full original ask, illustrating that pool-accessible, correctly priced properties can still move quickly even in a softer condo market.
Source: StellarMLS as of May 12, 2026. Pending prices shown, not final sale prices.
What Condo Buyers Must Know Before Making an Offer
Florida condominium law changed significantly in 2025 and these changes affect every condo purchase in Indian Rocks Beach. Buyers and their agents must understand these requirements before making an offer, not after.
Mandatory seller disclosures under Florida Statute 718.503 (2025): Sellers must provide 13 documents including the Declaration, Bylaws, Rules and Regulations, most recent year-end financial report, Structural Integrity Reserve Study, Milestone Inspection Report, Master Insurance policy, and flood disclosure. Buyers have 7 business days after receipt to review and may cancel within that window for any reason. Any special assessment approved or discussed in the prior 12 months must be disclosed. Failure to disclose creates personal liability for the seller.
Milestone inspections and SIRS: All condo buildings three stories or taller that are 30 years old or older are required to have a milestone inspection and Structural Integrity Reserve Study. Many IRB condo buildings were built in the 1970s and 1980s and fall under this requirement. Buyers should request current inspection reports and review reserve funding levels carefully before closing. Underfunded reserves can mean future special assessments.
The 7-day review window is your protection: Under current Florida law, a condo buyer has 7 business days after receiving the required documents to review them and cancel if needed. Use every day of that window. Engage a real estate attorney familiar with Florida condo law. Review the Milestone Inspection Report, the SIRS, and the most recent budget and reserve balance before your inspection contingency expires.
Source: Florida Statute 718.503 (revised, effective 2025). Florida Statute 689.302 flood disclosure (effective October 1, 2025). This report does not constitute legal advice. Consult a licensed Florida real estate attorney for guidance specific to your transaction.
What April Tells Us About the IRB Condo Market
Two closings in April against a backdrop of 47 active listings tells a clear story: the condo market in Indian Rocks Beach is experiencing a supply and demand imbalance, particularly in the sub-$700,000 range where Windrush Cove and several Gulf-side buildings have multiple competing units. Buyers in this segment have real negotiating leverage right now.
The upper end of the condo market, represented by Chez Soleil closing at $1,590,000 in 22 days, shows that well-positioned, pool-accessible properties with strong rental histories can still achieve strong results. The AirROI 2026 benchmark of $64,338 in average annual gross revenue across 846 active IRB listings applies to the broader market; individual condo performance depends significantly on unit configuration, pool access, building rental rules, and management quality.
Investors evaluating an IRB condo purchase should apply the Haydon SHORE™ STR Investment Framework: Supply and Demand, Hosting and Rental Rules, Operating Economics, Risk and Resilience, and Experience and Earnings Potential. The Hosting and Risk factors carry particular weight in the condo market, where HOA rules, Florida condo law compliance, milestone inspection status, and reserve funding all affect both investment performance and resale value.
"A condo purchase in Indian Rocks Beach right now requires more due diligence than any other property type we work with. You have the STR eligibility question, the HOA rental rules, the milestone inspection, the reserve study, and for condo-hotels the financing qualification. Get all of those right before you fall in love with a unit. The ones that pass every filter are genuinely good investments. The ones that do not pass are problems waiting to happen."
Also see the companion report: April 2026 Indian Rocks Beach Single-Family STR Market Report for the single-family side of the market.
Work With an Agent Who Knows Every Building
Cyndee Haydon has closed 150+ vacation rental and STR transactions on the Gulf Beaches. She knows which buildings are on the STR-eligible list, which are not, and what the due diligence checklist looks like for every property type.
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