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South Beach Condos Market Report June 2013

Here’s our monthly market report compiled from MLS data of all South Beach condos (zip code 33139).

The following charts shows the amount of available / pending condos in May & June as well as sales from the prior months, quarter & year.

As of 6/10/2013 there were 800 condos for sale in South Beach. As you can see this number decreased by approx. 9% from the prior month where there were 873 condos available. The number of pending sales has gone down by more than 15% from 397 in May to 334 in June. Part of this can be attributed to short sales that have been pending for a long time finally closing and being taken out of the equation. Fortunately, we are not seeing a lot of new short sales and / or foreclosures coming on the market, which adds to the ever increasing stability of the South Beach condo market.

As you can see, the amount of sold (closed) condos increased from 139 in April to 147 in June. We’ve started reported the trend of increased or at least stable demand and decreasing inventories since early 2012 and it still continues.

Some figures not shown in the charts: Current list to sales price ratio is 95%, so if you are in the market for a South Beach condo, low ball offers clearly are not getting accepted any longer. Current days on market is 109, in other words the average time it takes to sell a South Beach condo these days is just over 3 months.

The total inventory and the current pace of sales would be sold out in less than 6 months, which is an indication that we are officially in a seller’s market. Right now I see a large discrepancy in pricing of newly listed condos vs. sales prices of recently sold condos. This tells me that sellers might be a bit too “greedy” right now, which should result in a slower pace of sales going forward unless of course they are willing to negotiate more, which would be reflected in a lower list / sales px ratio. We will monitor these trends over the next few months to see which direction the market is headed.

The next chart gives you more details about current pricing.

Average list and sold prices recently sold condos sold increased by a significant margin from April to May, however the discrepancy between the average list price per sqft on condos currently for sale is significantly higher than the prices buyer have recently paid for South Beach condos. Currently active condos are listed at an average of $818/ sqft whereas the average sold price per sqft for condos closed in May was $587. Like I said, it will be interesting to see how this gap will be bridged in the coming months.

If you have any questions reg. these reports or have any other questions, please feel free to contact us at any time:

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Fontainebleau condos for sale

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Fontainbleau Condos for Sale Offer Buyers Luxury and Enjoyment

If you’re considering buying a condo in South Beach, then cast your eyes toward Fontainbleau – condos for sale at these three properties offer you quite a range of benefits and advantages. You’ll find tons to love here. What should you expect to find? Let’s take a closer look at these properties and you’ll see why they’re among the most prominent of luxury properties in the South Beach area.

It’s All about Location

Condo properties in South Beach (and throughout Miami Beach as a whole) are “a dime a dozen”. You’ll find condos from east to west, north to south. However, that doesn’t mean they’re all the same. Quite a few condo properties aren’t even located within walking distance of the beach. Fontainbleau condos for sale are different – they’re right on the incredible beach, ensuring that you only need to step outside your unit, stroll across the manicured grounds of the property and right out into the surf. It doesn’t get any better than this.

Three Properties to Choose From

When you begin considering Fontainbleau condos for sale, you’ll discover that there is not just one, but three properties from which you can choose. The main property is a horseshoe shaped complex, while the second and third properties are towers (II is taller than III). All three of these beautiful developments offer you incredible views – they’re constructed so that a large percentage of the units have views out over the azure waters of the Atlantic Ocean and the pristine beaches. Other units have views that cover the Intracoastal Waterway and the city of Miami itself.

Luxury in Every Unit

When considering Fontainbleau condos for sale, you’ll find that every unit on offer is fully equipped with the best of modern luxury. You’ll enjoy granite and marble countertops, marble baths, sliding glass walls, hardwood floors, imported wood and stone, high-end designer appliances and lighting and more.

On Property

You might just find that buying Fontainbleau condos for sale ensures that you never have to leave home. These properties offer so much to do that you really never need to go anywhere else. You’ll find spacious fitness centers, boutique shops, restaurants, nightclubs, several spacious swimming pools, bars and more.

As you can see, buying within any of the two condo hotel buildings offers you access to some of the very best in modern luxury and enjoyment.

For more information about Fontainebleau condos for sale, please contact me using the form below:

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1330 West Avenue – The Waverly

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Should You Call 1330 West Ave Miami Beach Home?

Miami Beach is a world-renowned destination for travelers, vacationers, those retiring and those just looking for an amazing place to call home. While the area offers a tremendous range of condo properties that you might choose, 1330 West Ave in Miami Beach just might be the most tempting option on offer. What should you know about this address? Why might this be the ultimate place to call home?

What’s At 1330 West Ave Miami Beach?

At this address, you’ll find the Waverly, a beautiful wave-shaped building that offers a great location and some of the utmost in luxury living within the area. Combining Feng Shui and the best in modern architecture, these dual towers provide owners with an exceptional experience.

Amenities on Offer

One of the most important considerations when investing in real estate in Miami Beach is the range of amenities on offer at the property. At the Waverly, you’ll find a tremendous number of amenities designed to make life simpler and more enjoyable in pretty much any way conceivable. At 1330 West Ave Miami Beach, you’ll find a many amenities including 24-hour security to ensure privacy, safety and peace of mind.

The Waverly also offers valet service and covered parking, but the Feng Shui lobby and common areas will likely be the first things that really catch your attention. The bay-front swimming pool is simply stunning, and the social gathering room offers plenty of space and an attached kitchen for owners’ use. Of course, there’s much more to enjoy at 1330 West Ave in Miami Beach, including a sauna and steam room, tennis courts, a full fitness center and a volleyball court. The billiard room is a great place to relax, but if you need to conduct business, the property also offers a full business center as well.

A Look at the Residences

The residences at 1330 West Ave in Miami Beach are just as breathtaking as the rest of the property. The units range from one to three bedrooms, while you’ll enjoy stunning views out over the bay and the Intracoastal Waterway. Each unit also offers a private balcony, spacious luxury bathrooms, fully outfitted kitchens with the best of modern appliances and walk-in closets in the master bedroom.

As you can see, there is much to enjoy if you choose to call the Waverly home.

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Help with Finding the Perfect Condo in South Beach

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Help with Finding the Perfect Condo in South Beach

If you need help finding the perfect condo in South Beach, there are several ways to go about it. The easiest of which is to contact a real estate agent, like myself. We generally get paid by the seller, so as a buyer any south beach realtor’s service should be completely free of charge for you.

On top of that, any professional real estate agent, will not only have access to all south beach condos for sale, thus making finding the perfect condo in south beach much easier for you, but will also be able to give you educated advice on the current market situation as well as guide you through all steps of the purchasing process. Again, all of this will generally be done at absolutely no charge to you.

So why wouldn’t you ask for professional help with finding the perfect condo in South Beach ?

Maybe you think you can get a cheaper deal by contacting for sale by owners ? Unless you have a good friend selling you their condo at a price below market, changes of succeeding with this strategy are rather low. Over 90% of for sale by owner properties eventually end up in the hands of a real estate agent, when the owners recognize that selling their condo isn’t as easy as they initially thought.

Still not sure if you are ready to have me assist you ? See what my clients have to say about my services on our testimonials page and then give me a call to see how I can help you find the perfect condo in south beach.

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Condos in South Beach

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Finding the Perfect Condos in South Beach

South Beach, Miami is a mecca for international travelers, as well as those within the US looking for a beautiful place to call home. If you’re considering your options for buying a home in the area, you’ll find a wide range of condos in south beach available. Condo living offers convenience, luxury, enjoyment and access to some spectacular amenities, just to name a few of the perks. Of course, you will have to know how to find the right property.

Budget Considerations

Condo properties in SoBe are available in a variety of developments, from upscale, new construction to older, established areas. Each of these comes with a different price point, and you’ll certainly need to take price into consideration when searching for the perfect option in condos in South Beach. There are many factors that play into the price you’ll actually pay, including the following:

Age of the property
Any upgrades done to the unit
Luxury appliances and materials in the unit
Location of the property (Biscayne Bay, Atlantic coast or Intracoastal Waterway)
Amenities on property

Each of these areas should be scrutinized carefully, particularly if you’re trying to stick to a specific price range for your new home.

Personal Wants

Of course, you’ll need to take your personal desires into consideration when comparing condos in South Beach. For instance, would you prefer to be slightly inland, or located right on the beach? Would you prefer to be closer to SoFi? Do you prefer views of the Intracoastal Waterway and the city of Miami to the rolling Atlantic Ocean? How close do you want to be to area shopping and dining?

Sit down and define your desires before you start looking at properties. It’s your home – it should offer exactly what you want. In addition, knowing what you’re looking for out of condos in South Beach will help you narrow down your list of options and include only those properties that best match what you want.

Use a Pro

As a final note, you might want to consider using a professional real estate agent (hint, hint) to help you vet options and develop a list of potential condos. An experienced real estate agent will know where the best deals can be found, can help ensure you get the most home for your money and can help you avoid any potential complications, as well.

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Waverly condo miami beach

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Waverly condo Miami Beach

The Waverly is a popular condo building on miami beach, more specifically on West Avenue in South Beach. West Avenue is a mostly residential area (with some business on the southern end) of South Beach and the Waverly is one of the nicer buildings along West Avenue. It was built in 2001 as a rental building and later converted to a condominium.

The Waverly condo building offers you a nice balance between a comfortable, amenity rich lifestyle and relative affordability. Currently prices for condos in the Waverly range from approx. $300k to approx. $650k.

Waverly condo miami beach currently available units (click link)

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Akoya condo

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Akoya Condo – A Pearl in North Beach

North Beach is home to some of the world’s most amazing condo properties, but the Akoya condo development is one of the most prestigious. The Akoya is named after a Japanese pearl, and the property certainly lives up to the images conjured by that name. If you’re considering investing in a condo property, there are quite a few reasons you might want to make the Akoya your new home.

Where’s It At?

When it comes to buying condos in North Beach, location is one of the most important considerations. You’ll find that Akoya condo units deliver exactly what you want. While other properties might be set off the beach, or even right in the middle of town, the Akoya is built immediately on the golden sands that have made the area so famous. You simply need to walk outside the building and you’re surrounded by golden sand, sunshine and the crystalline waters of the Atlantic. Of course, you’re not constrained to what NoBe offers. South Beach, the Art Deco District, Biscayne Bay and the entire city of Miami are within mere minutes of the property.

About the Building

The Akoya rises 48 stories into North Beach’s sky, and features almost 400 units throughout. Condo options range from 1 to 2 and 3-bedroom units, as well as penthouses for those who really want the utmost in luxury and spaciousness. Of course, all units offer open, spacious floor plans as well as the best in modern luxury. All units boast European kitchens with imported cabinetry and stainless steel appliances. The master baths all feature luxury whirlpool tubs and imported stone embellishments.

The property itself offers quite a range of amenities to ensure you always have something to enjoy. From the spacious fitness center to the tennis courts and racquetball opportunities, you have sports options galore. There’s even a putting green right on property. If you prefer aquatic enjoyment, the spacious pool is a great place to unwind, but the golden beach right in front of the Akoya condo development is certainly a tempting place to while away the day.

As you can see, the Akoya condo development offers something for everyone, and its location in the heart of one of Miami Beach’s most prominent neighborhoods is certainly a benefit. From fine dining and nightlife to leisure hours with the sun and sand, you’ll find this is an amazing place to call home.

Last, but not least, you are located within walking distance of Canyon Ranch with all it’s amenities as well as a brand new state-of-the-art Publix supermarket that is currently under construction and will open in the near future.

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Toppling the Record – Miapolis in Miami

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Miapolis in Miami

It seems that as soon as one record is set, it’s time to see who can break it. That rule holds true in every area of human endeavor, from art to architecture. Now that Dubai’s Burj Khalifa has been named as the world’s tallest building, it’s only a matter of time before something else takes its place. That “something else” is going to be built in Miami, Florida – Miapolis. What is this monumental creation going to be? Let’s take a closer look.

Where Will It Be Built?

First, let’s take a look at exactly where Miapolis will be built. The proposed structure will be constructed on Watson Island, right in the city of Miami. However, don’t think that this is going to be “just another” super building. While other super skyscrapers are home to offices and apartments, Miapolis is going to be something very different, indeed.

What’s It All About?

What’s Miapolis all about, then? This incredible property is designed to be a full city within a city – it will be another city within Miami. Rising more than 3,200 feet into the sky, the property is expected to have a full 160 stories. The building will house offices, luxury homes, shopping areas, businesses, restaurants and diners, and even an observatory. Other areas slated for inclusion are a hotel with 792 rooms and a full size amusement park, as well. That’s certainly something different from other record-breaking buildings around the world. In fact, Miapolis looks like it’s going to be a world unto itself.

It’s Green and Self-Sustaining

Another significant difference here is the fact that Miapolis is going to be self-sufficient. It’s also going to be one of the greenest constructions in the world to date. State of the art green materials, environmentally friendly construction methods and cutting edge maintenance practices. In fact, it would become the highest rated LEED-certified green property in the country.

Don’t Rush to Buy Just Yet

While the dream that Miapolis represents is certainly compelling, don’t rush out to buy your condo just yet. The project is still in the development stage, so there’s no telling just how long you’d have to wait to own your little piece of this ecologically friendly haven. With that being said, keep an eye on the headlines because once commercial and residential properties start becoming available, you can expect them to go very quickly.

If you want to be kept in the loop on upcoming news for this project or have any other questions regarding Miami Downtown or Miami Beach real estate, please contact us using the form below.

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Tips for Buying South of Fifth Condos

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Tips for Buying South of Fifth Condos

When it comes to cultural diversity and high-end luxury, few other areas compare to SoFi, or South of Fifth in South Beach, Miami. It’s a playground year round, whether you want to soak up the sun on the sandy beaches, take a cruise out into Biscayne Bay or enjoy the incredible shopping and dining opportunities that abound here. If you’re interested in calling SoFi home, you’ll need to know a few things about buying South of Fifth Condos.

Why Condos?

Why should you consider buying a condo in SoFi? Actually, there are myriad reasons. One of those is that condos are the most widely available type of real estate in the area, though there are single-family homes on offer. However, condo living offers some significant advantages over other options, including the fact that you don’t have to worry about property upkeep, get to enjoy stunning grounds and a wide range of amenities can be found with pretty much any property.

Know Your Options

When it comes to buying South of Fifth condos, you’ll find an incredible diversity of options available on the market. You’ll find older, established properties, but you’ll also find some of the newest and most innovative developments available. Whether you want a low-rise condo property or a view from the clouds, there’s a place to call home waiting for you here.

You will need to decide what side of the island you want to call home – the Atlantic, the Intracoastal Waterway or Biscayne Bay. Ocean and Intracoastal views are more widely available than views of the bay, simply because there’s more real estate available, but you will find quite a few condos out there that overlook the bay if that’s your preference.

You’ll also want to determine just how luxurious you want to go with your condo. You’ll find any level of luxury you can imagine available, from a comfortable home for retirees to ultra high-end living in some of the world’s most elegant properties.

Perhaps the best way to ensure that you find the perfect South of Fifth Condos from which to choose is to work with a real estate agent who knows the ins and outs of the area. With the right realtor on your side, you’ll be able to narrow down your choices easily, and might just find that locating the perfect home is not as hard as you thought.

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Is Owning a South Beach Miami Condo Right for You?

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Is Owning a South Beach Miami Condo Right for You?

Are you in the market for luxury real estate? If so, you won’t find much out there more luxurious than what is on offer in the South Beach, Miami condo market. Is owning one of these properties right for your needs? Condo living offers immense convenience, and the South Beach, Miami area is full of options to explore in the realms of shopping, dining, relaxation, entertainment and culture. Of course, that doesn’t mean that everyone is a good fit for condo life.

Luxury Living and a Room with a View

One of the first things you’ll find about South Beach, Miami condo life is that it really does live up to the stereotype. In fact, South Beach condos help define the phrase “luxury real estate”. From high-end imported stone to rich woods, luxury appliances and groundbreaking designs, you’ll find that South Beach condo properties give you the ultimate in luxury living. On top of that, you’ll discover that having a “room with a view” is almost a cliché here – properties offer panoramic views of both the azure Atlantic Ocean and the beautiful Intracoastal Waterway.

It’s All at Your Doorstep

Another thing you’ll notice immediately about living in a South Beach, Miami condo is the immense number of things to see and do that lie right outside your door. South Beach is relatively small in size, but don’t let that fool you. There are thousands of options to explore here, whether you want to see the world through food, explore the Art Deco architecture, head to the beautiful white sand beach for some sunbathing or shop the finest stores and boutiques.

Your Options Are Not Equal

Of course, not all South Beach, Miami condo properties are the same, and you will have to ensure that you know what options are available. You’ll find new luxury properties, as well as older, established condominiums on offer. You’ll find properties that overlook Biscayne Bay, the Atlantic and the Intracoastal Waterway. You’ll also find condos available in a variety of different flavors, from comfortable, cozy properties to ultra-luxury homes on offer.

Determining which South Beach, Miami condo property is right for you can be tough. Working with a skilled realtor who knows the area intimately is an excellent option to help you sort your choices and find the perfect place to call home, whether you’re looking for a fulltime home or a new place to stay on vacation.

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South Beach Condos Market Report June 2013