Oceanfront Condo Sales- Buyer Activity

May 9, 2009 By

We haven’t posted in a while, because we have been very busy with buyers looking for great opportunites as well as with institutional buyers looking for bulk sales. There is plenty of activity in the market.   Active buyers in luxury oceanfront buildings are picking the best line units in buildings, taking advantage of the “buyers market” that exists. 

To provide you with an idea of the sales activity of oceanfront condos, here is a sampling of  closed sales for the past 6 months in South Florida. 

 

  • One Bal Harbour. Bal Harbour- 6 closed sales all over $1.3 million-NOTE:  Unit 208 Originally listed at $3.1 million closed for $2.2 million, one of the most desirable units
Furthermore, in new condo sales, most of the new construction developments have slashed their prices significantly.  The Mei, Miami Beach, for example, is reporting 20 closed sales in the month of April ! 
Oceanfront condos in Miami Beach, Fort Lauderdale and Palm Beach are selling ! 

                           

Filed Under: Beach Club Hallandale, Boca Raton Oceanfront Condos, Buying Real Estate, Condo Statistics, Continuum South Beach, Deals, Fort Lauderdale Oceanfront Condos, Mei-Miami Beach, Miami Oceanfront Condos, Palm Beach Oceanfront Condos Tagged With: , , , , , ,

Condo Statistics for Hollywood and Hallandale Beach

January 30, 2008 By

Some of my international buyers have asked for statistics on the local condo market. We are going to offer this information on a regular basis for different oceanfront communities in South Florida.

Below is a look at Hollywood and Hallandale Beach condos from 2006-2007. The inventory appears to be declining as sales have been consistent with a slight increase in December.

Condo Statistics For Hollywood and Hallandale Beach

The next chart will provide you with average cost per square foot. This data represents all waterfront condos in this area, both intracoastal and oceanfront. Researching back to 2005, if you average the last three months of 2005, price per square foot was $435. If you average the last three months of 2006, price per square foot was averaging $419. Averaging the last three months of 2007, price per square foot was averaging $378. Translating that:

Example:

In 2005

2000 square foot waterfront condo at $435 square foot: $871,333.

In 2006

2000 square foot waterfront condo at $419 square foot: $838,000.

In 2007

2000 square foot waterfront condo at $378 square foot: $756,000.

So what does all this mean? Buying opportunities.

Condo Statistics For Hollywood and Hallandale Beach Price Per Square Foot

Filed Under: Condo Statistics, Fort Lauderdale Oceanfront Condos Tagged With: , , ,