Downtown Miami July 2016 Sales Report

Downtown Miami topics
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Welcome to our latest monthly sales report for July 2016! Our reports take pleasure in including all the sales of each individual building in the Downtown Miami area. If you’re interested in a personal copy or would like an extensive report on any of the featured developments call us today at 305-305-3885 or send us a message here. Don’t see your community? Let us know and we will have it featured for you! The properties seen here were listed and sold by various South Florida MLS participants from July 1st to July 31st, 2016.

Summer this year has certainly been interesting for Downtown Miami real estate. After a huge surge of sales as seen in June’s report, July dialed the action down a bit. Compared  to last month, July 2016 had 22 sales with a total dollar volume of around $8.4 million dollars in total. This may seem like a lot  but as I said before, summer months are often less active than the winter months in our market. Nevertheless, I do want to point out that there are 59 units listed as pending as of today’s date. There’s a good chance that July could’ve been a lot more active than it seems on paper and some of these units have simply not closed yet. I will make updates to this post if any of these units actually closed beforehand.

Despite the figures and the statistics, there’s a silver lining to having a slow summer. Sellers still looking to sell before the end of the year should take advantage of this time to make any price corrections now rather than later. I’m ashamed to admit that as of late, the amount of overpriced inventory I’ve seen is quite high, which makes those units impossible to sell to buyers looking to finance a purchase. My advice is simple: Price your homes where they should be priced.

Doing the right corrections now will definitely help sell the unit by the end of the year if not before. My phone has continued ringing with many prospects from all around the world who would love to buy.

Please see the table below for the breakdown in sales (buildings with no sales for the month are not included on the list, better luck next month!).

Downtown Miami July 2016

 

 

 July 2016 Sales Report – Downtown Miami

 

Total Transactions: 22

($) Volume: $8,455,500

Highest Priced Sale: Ten Museum Park #1602 – $840,000

 

Ten Museum Park Miami
Ten Museum Park’s #1602 was July’s highest priced sale

 

Complex NameList Price#BR#FB #HBUnit #Sale Price
900 Biscayne Bay69900023 #3308680000
One Miami65000032#1912650000
Marina Blue60000022#2812585000
1800 Club54699922 #905545000
900 Biscayne Bay520000111#2707500000
Ten Museum Park495000221#2607467000
One Miami45990022 #1707450000
Marina Blue41500011 #1710370000
Epic410000111#3312390000
Epic385000111#3210396000
Met 1325000111#T-1801305000
50 Biscayne 31000011#3507275000
VIZCAYNE28450001 #3005285000
The Loft II Downtown27500022#902240500
50 BISCAYNE CONDO25500001#705250000
Quantum On The Bay25500011 #4610250000
Loft II25490011 #2608240000
Venetia24800011#PH-D219000
Opera Tower 18900001 #2807180000
Loft II18550011 #815183000
Flagler First Condo17200011 #902155000

Source: Miami Association of Realtors. Information deemed reliable but not guaranteed

Finally, we hope this information is useful for your real estate search. Our August sales report is already in the works. We look forward to hearing from you again soon! We’re also open to any questions about any of the deals mentioned above. You can contact us directly at the information below.

Downtown Miami real estate is our expertise. As local specialists, we strive to give you a superior advantage over the competition. Email us today or call us at 305-305-3885 if you’re looking to buy or sell in Miami!

Lastly, thanks for reading The Miami Observer!

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