March 2016 Sales Report – Downtown Miami

Downtown Miami August 2016

Welcome to our latest monthly sales report for March 2016! Our reports take pleasure in including all the sales of each individual building in the Downtown 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! Properties were listed and sold by various South Florida MLS participants from March 1st to March 31st, 2016.

With many major sources now reporting the major abundance of supply affecting the Miami condo market, it is only natural for Buyers to be more cautious and for properties lasting longer on the market. After all, not only are we in an election year here in the States but are also in the midst of growing fear in other parts of the world. Even though I do agree that we currently are in a buyer’s market, my staff and I are still observing a steady stream of transactions as well as continued interest in Downtown condos, particularly the ones located in strategic lots and distinctive features such as waterfront views.

On a personal note, our belief still stands the same: The market has softened but is not set to crash.

For the month of March, we had a total of 35 transactions that sold which makes this the strongest sales month so far for 2016. Of the 35 units that sold, only 10 of those were over $500,000 or above. This stream of sales in the lower end of the market reflects that the demand for the more affordable units still remains very strong while the abundant supply of pricier units makes the sale of premium units take longer.

For the breakdown on sales please see below (buildings with no sales for the month are not included on the list, better luck next month!)

 

March Sales Report Downtown Miami

                                       

           March 2016 Sales Report – Downtown Miami

 

Total Transactions: 35

Dollar Volume: $14,358,299

Highest Priced Sale: Marquis Residences – 1100 Biscayne Blvd #6002 – $800,000

Marquis Miami condos for sale
#6002 at Marquis Miami was March’s highest priced sale. This listing was also an EWM Listing.

 

1800 Biscayne Plaza

  • 275 NE 18th St #1205 – 2/2, $299,000
  • 275 NE 18th St #1402 – 2/2, $300,000

50 Biscayne

  • 50 Biscayne Blvd #4102 – 3/2, $790,000
  • 50 Biscayne Blvd #1506 – 2/2,  $606,000

900 Biscayne Bay

  • 900 Biscayne Blvd #4804 – 1/2, $550,000
900 Biscayne condos for sale
900 Biscayne Blvd #4804, listing courtesy of One Sotheby’s.

Flagler First Condo

  • 101 E Flagler St #605 – 2/1, $195,000

Marina Blue

  • 888 Biscayne Blvd #2308 – 2/2.5, $655,000
  • 888 Biscayne Blvd #3312 – 2/2, $595,000
  • 888 Biscayne Blvd #702 – 1/1.5, $425,000
  • 888 Biscayne Blvd #3511 – 1/1.5, $360,000

Marquis Residences

  • 1100 Biscayne Blvd #6002 – 2/2.5, $800,000
  • 1100 Biscayne Blvd #5605 – 2/2.5, $725,000
  • 1100 Biscayne Blvd #3705 – 1/2, $620,000

One Miami

  • 325 S Biscayne Blvd #717 – 1/1, $335,000
  • 335 S Biscayne Blvd #3312 – 3/2, $627,299

Opera Tower

  • 1750 N Bayshore Dr #5202 – 2/2, $495,000
  • 1750 N Bayshore Dr #4809 – 1/1, $290,000

Quantum On The Bay

  • 1900 N Bayshore Dr #3201 – 2/2.5, $600,000
  • 1900 N Bayshore Dr #2608, 1/1, $280,000
  • 1900 N Bayshore Dr #4210 – 1/1, $270,000
Quantum On The Bay condos for sale
Quantum On The Bay #3201 sold in March for $600,000. Listing courtesy of Prime Location Realty.

The Grand

  • 1717 N Bayshore Dr #A-3750 – 2/2, $475,000
  • 1717 N Bayshore Dr #A-2227 – 2/2, $430,000
  • 1717 N Bayshore Dr #A-3738 – 1/1.5, $379,000

Loft II

  • 133 NE 2nd Ave #3408 – 1/1, $230,000
  • 133 NE 2nd Ave #3309 – 1/1, $225,000
  • 133 NE 2nd Ave #1510 – 1/1,  $219,000
  • 133 NE 2nd Ave #1105 – 1/1, $218,000

Venetia

  • 555 NE 15th St #20-B – 1/1.5, $312,000
  • 555 NE 15th St #30-H- 1/1.5, $245,000

Vizcayne

  • 244 Biscayne Blvd #248- Studio, $204,000
  • 244 Biscayne Blvd #344- Studio, $204,000
  • 244 Biscayne Blvd #346-Studio, $200,000
  • 253 NE 2nd St #315-Studio, $180,000

We hope you enjoyed this edition of our sales report and hope you find it useful! We look forward to hearing from you again for our April observations!

If you would like to buy or sell real estate in Downtown Miami contact us today at 305-305-3885 or send us a message here ! We specialize in the Downtown Miami market and our knowledge in the area has already helped dozens of others achieve their real estate goals!

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