South Beach Condo prices per sqft
Since price is of course the most important factor when buying or selling real estate I just ran some market stats for the past 12 months (Feb 2011-Feb 2012) for condo sales in 3 different areas:
South Beach (other than South of Fifth)
The charts below show you the average sold price per sqft for a sampling of different South Beach condo buildingswell as the min / max sold price per sqft. Since the charts show you the minimum / maximum and average price per sqft that was actually paid in the past 12 months, this is a solid guideline of how much you should be paying / receiving when buying or selling a condo in any of these buildings. Of course there are many factors that will impact the price / value of any unit within the buildings, such as location in the building, views, finishes, etc.
As you can see both Mirador Towers have been selling in the low $200’s p. sqft, Floridian and Waverly are hovering right around the mid $300 p. sqft mark and the Decoplage, due it’s location at the end of Lincoln Road and right on the Ocean, commanding slightly more than $400 per sqft.
There are many more buildings in South Beach, however these are some of the most popular and should give you a good indication of the general high rise condo market in South Beach.
As you can see the price ranges per sqft in each of the buildings are quite large, resulting from the vast differences between units in each buildings. “Prime” views & finishes do command a premium while not so desirable lines in the buildings might sell at a discount. While there are very few distressed condos in these buildings, the few that have been there also tend to be on the lower end of the price and desirability spectrum.
Interested in buying or selling a condo in any of these buildings ?
Talk to Tom (305) 482-1688 or fill out below contact form and I will get back to you asap !
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