Bal Harbor Real Estate Market Report
There are currently 162 Bal Harbor condos for sale: (11 less than in March)
- Highest priced listing: St Regis residence 1701S for $25 million (7 bedrooms / 7 bathrooms / 2 half-baths, 13,254 sq.ft. of living space and over 3,500 sq.ft. of terrace)
- Lowest priced listing: 2 bedroom/1 bath unit at Bal Harbour Manors Co-op for $210,000
- Pending Sales: 17 (1 less than in March)
- Closed sales in April and May: 19
The 19 Bal Harbor Condos sold in April and May of 2015 were the following:
- Bal Harbour 101 – 1 Sale – 10155 Collins Ave – unit 810 – listed for $2.4 million and selling for $2.3 million ($697/sq.ft.)
- Balmoral Condo – 7 sales – 9801 Collins Av (average price/sq.ft. = $511)
- unit 15V – 2 bedrooms / 2 bathrooms and 1,388 sq.ft. – listed for $625,000 and selling for $575,000 ($424/sq.ft.)
- PH10 – 2 bedrooms / 2.5 bathrooms and 2,100 sq.ft. – listed for $1,349,999 and selling for $1,200,000 ($571/sq.ft.)
- unit 6L – 3 bedrooms /3.5 bathrooms and 1,968 sq.ft. – listed for $1,299,000 and selling for $1,225,000 ($622/sq.ft.)
- unit 14G – 2 bedrooms / 2 bathrooms and 1,388 sq.ft. – listed for $849,000 and selling for $815,000 ($587/sq.ft.)
- unit 6C – 2 bedrooms / 2 bathrooms and 1,688 sq.ft. – listed for $859,000 and selling for $780,000 ($462/sq.ft.)
- unit 8K – 2 bedrooms / 2 bathrooms and 1,776 sq.ft. – listed for $849,500 and selling for $849,500 ($478/sq.ft.)
- unit 5Q – 2 bedrooms / 2 bathrooms and 1,388 sq.ft. – listed for $650,000 and selling for $600,000 ($432/sq.ft.)
- Harbour House – 4 Sales – 10275 Collins Av (average price / sq.ft. = $537)
- unit 928 – 1 bedroom / 1.5 bathrooms and 896 sq.ft. – listed for $449,000 and selling for $445,000 ($497/sq.ft.)
- unit 226 – 1 bedroom / 1.5 bathrooms and 896 sq.ft. – listed for $359,900 and selling for $325,000 ($363/sq.ft.)
- unit 1001 – studio with 1 bathroom and 481 sq.ft. – listed for $289,000 and selling for $275,000 ($572/sq.ft.)
- unit 518 – 2 bedrooms / 2 bathrooms and 1,056 sq.ft. – listed for $779,000 and selling for $745,000 ($714/sq.ft.)
- Kenilworth Condo – 2 Sales – 10205 Collins Av (average price / sq.ft. = $539)
- unit 603 – 2 bedrooms / 2 bathrooms and 1,735 sq.ft. – foreclosure listed for $710,000 and selling for $750,000 ($432/sq.ft.)
- unit 1202 – 2 bedrooms / 2.5 bathrooms and 2,325 sq.ft. – listed for $1,585,500 and selling for $1,500,000 ($645/sq.ft.)
- One Bal Harbor – 1 Sale – 10295 Collins Av – unit 1115 – studio with 1 bathroom and 510 sq.f.t – listed for $650,000 and selling for $630,000 ($1,235/sq.ft.)
- St Regis Bal Harbour – 2 Sales – 9701 Collins Ave (average price / sq.ft. = $2,028)
- unit 1105N – 2 bedrooms / 2.5 bathrooms and 1,599 sq.ft. – listed for $3.5 million and selling for $3,275,000 ($2,048/sq.ft.)
- unit 1901-S – 4 bedrooms / 4.5 bathrooms – 3,884 sq.ft. – listed for $8,995,000 and selling for $7,800,000 ($2,008/sq.ft.)
- The Plaza of Bal Harbour – 2 Sales – 10185 Collins Av (average price / sq.ft. = $441)
- unit 1217 – 2 bedrooms / 2 bathrooms and 1,412 sq.ft. – listed for $875,000 and selling for $800,000 ($567/sq.ft.)
- unit 1416 – 2 bedrooms / 2 bathrooms and 1,434 sq.ft. – listed for $489,000 and selling for $450,000 ($314/sq.ft.)
In the past 2 months, the building with the most sales volume is evidently Harbour House with an average price per square foot of $511. The highest priced building continues to be St Regis as expected with an average price per square foot of $2,028. The second highest priced building in the past 2 months is One Bal Harbor, followed by Bal Harbour 101 and close 4th place are Harbor House and Kenilworth.
It’s important to note the disparity in building prices and hence sales history in each particular building is key for getting right comparables. To compare these sales to 2014 figures, please visit Bal Harbour Real Estate Market Update for 2014.
To sign up to our Home Trend Reports, go to MiamismTRENDS.com and fill in your information.
Call us Today for a listing appointment!
If you are interested in getting a list of all properties currently for sale in Bal Harbor or your particular building, we will be happy to send you a digital copy at your request. We can also send you monthly market reports directly to your inbox. Feel free to email us at BalHarbor@miamism.com
Jennifer Lopez’ former Miami Beach home was back on the market for $37.5 million and sells for $33,000,000. The open bay, North Bay Road home located at 5800 North Bay Rd has quite a listing history. Price has increased and decreased in the past few years and went back on the market this month at the new listing price.
Although the Miami Beach Luxury Market is hot, we can agree that buying a home with celebrity status IS a nice perk. Let’s take for example, Lebron James’ house in Coconut Grove, it was listed for $17 million, reduced to $15 million and now it is under contract. Matt Damon’s Miami Beach home sold for $15.375 million, and Shakira’s Miami Beach home is currently for sale for $13.9 million.
ADDED NEWS: And guess who the buyer of of this amazing home was? None other than Phil Collins!! (as reported by The WSJ). Talk about a home getting double celebrity status – now we have a winner! Congrats Phil!! Killer Home! We’ll wave hello from the boat when we go by.
The truth is that buyers are smart and look for location and attributes and it’s not really about celebrity status… but we certainly like to know or like to think that we live like the stars. But back to JLo’s former home.
JLo’s former house, purchased for $13.9 Million back in 2005, and the home has all the luxury and bells and whistles you would expect from a $37.5 million home – from wide bay views, 200′ of water frontage, a massive 52,000+sq.ft. lot, private dock, boat lift, and most importantly…impeccable design details for the most discerning buyers.
The marketing description reads as follows:
The ultimate European Contemporary Estate w/200 ft on wide Bayfront w/Miami Skyline views & glorious Sunsets! Sited on over 52,000 sf of exquisite gardens & swaying palm trees, this sophisticated estate was transformed w/impeccable style. Details abound w/2 story rotunda foyer, open living & dining rms open to bay & courtyard w/koi pond, wine cellar, media rm, master suite w/massive closets, gym, summer kitchen, dock/lift, large pool/spa & total privacy for the most decimating buyer. The best of the best!
- 12,153 sq.ft. of living space
- originally built in 1929 and completely remodeled and updated
- 7 bedrooms / 8 bathrooms / 3 half-baths
- 3-car garage
- 184′ X 286′ Lot – 52,881 sq.ft.
- 2-story – Mediterranean style home
- guest/in-law quarters
- pool and spa
- koi pond
- wine cellar
- media room
- summer kitchen
- dock and lift
Here are some photos, courtesy of Zillow.com – If you are interested in this house or any other Miami Beach Home, please contact us to set up a consultation appointment. We specialize in architecturally significant real estate as well as historic homes in Miami.
We recently wrote an extensive article about why you need to invest in Miami Right now. It spells out the changes Miami is experiencing right now, from tech to infrastructure, and how it has become a Global City.
Miami real estate is here to stay. It’s not a passing movement, it’s not a bubble, it’s not a fad. Of course it will have its ups and downs like any real estate market in the history of the industry, but there are exciting changes that make our city, Miami, the place to invest in NOW. We, as Miami REALTORS, embrace those changes, feel privileged to be witness to this amazing growth, and are here to help you, our clients, understand the reasons to buy and invest in Miami now.
In addition to that, we also told you how Miami is the 6th most important Global City, according to Knight Frank’s Wealth Report for 2015.
Yet Miami, over the last decade, has quietly moved further up the list of the ‘Top 40′ most important global cities for the world’s super rich. In 2015, Miami now is ranked number six worldwide, ahead of cities like Paris and Dubai.
The Miami Report
And now, we want to share The Miami Report by ISG World, an in-depth analysis of Miami, the rise of a global city. This 86 page report presents extensive research on the state of the South Florida real estate market and the impressive speed at which it is evolving.
ISG Principals, Craig Studnicky and Philip Spiegelman, assembled not only statistics, but spell out the many influences that propel Miami’s emergence as a Global City.
We have also examined the subjective factors that are impacting the worldwide surge of interest in South Florida. In the course of our research, one theme begins to emerge “MIAMI IS THE REASON”. The rationale may vary and be as diverse as the people looking to settle here. it may be the politics, security, culture, economic stability, education, climate or simply the lifestyle, but it is MIAMI as a whole that is the star.
The Miami Report is broken down into different sections:
- New Construction Condo Overview
- Wealth Report
- World Class Penthouses
- MLS Resale Inventory
- Rental Trends
- Population Statistics
- International Market
- Cultural and Economic Growth
- ISG City Watch
- South Florida 2020
- On The Ground Report
We look forward to sharing this exclusive report with our audience and hearing your feedback. If you are interested in receiving a digital copy of the report, please e-mail your request, with contact information, to MiamiReport@Miamism.com
Time for a laugh, especially after The Miami New Times makes a set of Miami Emojis. This “cucaracha emoji” reminded me of the post we did on Florida Bugs.
15 things to know about Florida bugs
1. Another name for mosquitoes is B-52’s
2. Cockroaches can get so big that you can catch a ride on them
3. A favorite Florida pastime is to see who can snort the most no-se-ums without choking
4. According to Chris Griffith, the unofficial Florida State Bird is The Mosquito
5. Best selling fragrances in the stores are known as “Cutter Bug Spray” and “DEET”
6. Citronella candles are a common household item
7. Grasshoppers are so big they look like lobsters
8. If a perfect stranger smacks you in the face for no particular reason, just nod and thank them
9. If you see people doing a strange dance on a sandy beach, don’t join them – it’s probably sand fleas
10. There are 3 seasons in Florida – rainy season, hurricane season and love bug season
11. Dayngr can attest to having seen mosquitoes the size of a small Volkswagen
12. Love Bugs can get so intense that there are windshield washing stations along the Florida Turnpike for the splattering nuisances
13. Dragon Flies are so fast that they can chase you down the expressway
14. You are not a Floridian if you have never gotten hit in the face by a flying Palmetto Bug
15. Florida Ticks don’t just suck blood, they are known to drink Mojitos
For those of you relocating to Miami, please realize that this article, although true, is for entertainment purposes – some of the descriptions given may be slight exaggerations.
Surfside Real Estate Market Report
There are currently 22 Surfside homes for sale (1 less than last month):
- Highest priced listing: $5,000,000 (waterfront fixer upper at 1332 Biscaya Dr)
- Lowest priced listing: $565,000 (9057 Carlyle Av)
- Pending Sales: 6 (1 less than last month)
- Closed sales in May: 4 (compared to 8 in the previous month)
The 4 Surfside homes sold in May were the following:
- 1236 Biscaya Dr – 6 bedrooms / 7.5 bathrooms, 6,723 sq.ft. of living space on the wide bay. Magnificent contemporary home originally listed for $6.9 Million in November of 2014, reduced to $6.6 Million in February of 2015 and finally selling for $5.9 Million ($878/sq.ft.)
- 8950 Byron Av – 4 bedrooms / 3 bathrooms, 2,073 sq.ft. of living space. Remodeled home listed for $749,900 in March of 2015 and selling for $715,000 ($345/sq.ft.)
- 9041 Emerson Av – 3 bedrooms / 2 bathrooms with 1,960 sq.ft. of living space. Originally listed for $729,000 in December of 2014, with a couple of price reductions and finally selling for $676,000 ($345/sq.ft.)
- 9272 Dickens Av – 3 bedrooms / 2 bathrooms with 1,600 sq.f.t of living space. Originally listed for $675,000 in January of 2015, reduced to $649,000 in February and sold for $600,000 ($375/sq.ft.)
The average selling price per square foot for Surfside homes (not on the water) in May was $355 compared to averages in other months:
- April $347
- March $363
- February $316
- January $321
- 2014 – $324
Inventory remains low in Surfside and buyers are just waiting for new properties to come on the market. Although we see a slight fluctuation in price per square foot, there’s an overall conservative increase in pricing. Call us for a listing appointment, your home may be perfect for one of our buyers.
Surfside Home of The Month
Miamism Sales Team recommends the Surfside home located at 9380 Bay Drive. Here’s a 2-story, waterfront home built in 1945 with 4,765 sq.ft. of living space. Beautifully scaled with 5 bedrooms and 5 bathrooms. It’s offered at $2,995,000 and we will be happy to send you photos and arrange a showing appointment.
To sign up to our Home Trends Reports, go to MiamismTRENDS.com and fill in your information.
Call us Today for a listing appointment!
If you are interested in getting a list of all properties currently for sale in Surfside, we will be happy to send you a digital copy at your request. We can also send you monthly market reports directly to your inbox. Feel free to email us at Surfside@miamism.com