WHAT HAPPENED IN 2018?
Almost every day, people ask me how the real estate market is going? Is it time to buy or to sell? are the most recurrent questions. That is why, in our second edition of Condo News Miami, I decided to give you an overview of what happened in three of the most relevant neighborhoods in Miami.
Don't miss this great video !
SOUTH BEACH SALES EVOLUTION
Let's have a look in more details at our yearly analysis of the hottest condos in South Beach. At a first glance we notice that sales are increasing in 2018 in almost every condo.
In terms of volume of sales the trend is going upward. The average is around 12% with a peak for the Icon which is up 225% and the Continuum North up 180%. The Yacht Club sales are also up 22% compared to 2017.
On the other side, sales prices are down which could partly explain why the volume of sales has drastically increased. The Murano at Portofino sales average prices went down from $1,530/sqft in 2017 to $1,061/sqft in 2018. The South Pointe Tower is also down 24%. The Apogee, the Sunset Harbour towers and the Icon are the only ones which saw a higher sales price increase in 2018 of respectively +25%,+19% and +9%.
In conclusion what we need to understand from this evolution, is that prices are down and it's the perfect moment to invest!
500 ALTON ROAD IS NOW BOOKED FOR THIS PLANNED 484 FEET BUILDING.
It is final, this new tower at the entrance of South Beach will be developed by Crescent Heights, who has also also agreed on building a 3.19 acre park on the 600 block.
After 14 meetings, the city commission approved of this upcoming development. But why did it took so long? Mainly because the project was asking for short-term rentals allowance. The commission didn't accept this request, but let the developers rent for periods of minimum 30 days, the unsold units.
This high rise has already pre-sold some of the units, and there are some others pre-rented.
Looks like there is a new neighbor in town!
MIAMI JANUARY 'S CALENDAR
Last but not least, for our first time, we wanted to give you all, visitors and residents of Miami, the best events calendar for January!
It is a great time to get out of our homes and enjoy all the exciting events this blossoming city has to offer!
If I had to choose, I would say the Art Deco Weekend and the Original Miami Beach Antique Show are a MUST SEE!
Art Deco Weekend:
Located on Ocean Drive, this 3 days event has 85 different activities to offer! It has the only purpose of preserving, promoting and protecting the Miami's architecture, design, history, art and culture. Loads of entertainment for FREE! This event is full of activities, such as fashion shows, dog show, jazz concert, guided walking tours and more!
Original Miami Beach Antique Show:
This is definitely one of my favorite events of the year. I love going to the Miami Conventional Center to see the finest Antiques ever! I love the vast selection of art, jewelry and decor of all historical time periods they exhibit at this annual event. More than 3,000 exhibitors show us their precious pieces of art since 1968. Don't miss it!
I will definitely be there, so I hope to see you there!
CONDO NEWS MIAMI
As you have might already noticed, we have officially launched our new Video-Blog (Vlog).
A fact that has always characterized us, is our constant attempts in keeping our clients and community well-informed about what is going on in the Miami's Real Estate market. This interactive method we have launched, has the only purpose of being a new and entertaining channel for you to know more about us and about our industry.
We have turned on our creativity and we will bring you the most interesting content that you will definitely like!
We invite you to check it out and feel free to tell me what do you think!
DEAL OF THE MONTH: YACHT CLUB AT PORTOFINO #2703
- Listed at $780,000
- 1,080 sqft
- 2 bed / 2 bath
- $722 /sqft
- High floor
- Stunning Ocean Views
- Spacious living room