South of Fifth 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 of Fifth (Miami Beach)
“Greater Downtown Area” – will be posted in the next few days
The charts below show you the average sold price per sqft in the South of Fifth area of South Beach for 6 of the most popular buildings in the area as well 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 Murano Grande, Icon and Portofino Towers are hovering right around $600 p. sqft as an average sales price, with both Continuum Towers commanding more than $1100 per sqft and Apogee – not surprisingly – eclipsing all other South of Fifth buildings at almost $1800 per sqft.
It’ll be interesting to see how Ocean House will fall into the mix, even though it is a boutique buildings, that can’t really be compared to any of the above buildings.
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 the 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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