May 2016 Sales Report – Downtown Miami

May Miami Real Estate

Welcome to our latest monthly sales report for May 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 May 1st to May 31st, 2016.

May 2016 has officially wrapped up and we have now reached the halfway point of the year. Time has been going by very quickly this year for some reason!

As an individual month, it was incredibly robust if compared to the month of April. After breaking down the sales, I noticed that many of the listings on the sheet sold after going through one or two price reductions in addition to further negotiations from the buyers. There has also been a surprising amount of activity in the market below $350,000. The main advice I can offer to Sellers have not been able to sell their unit is the same old tale I often share with all my readers: Keep track of the comparable sales and adjust your pricing based on how the units are selling in your building.

One major concern I’ve heard from many sellers is the worry that there simply aren’t enough buyers looking to purchase in Miami. The truth is quite the opposite. Even with the decline of some foreign markets and the renewed strength of the US dollar, Downtown Miami continues to attract many interested parties from all around the world.

Interested in finding out how to attract those buyers? Start by speaking with an agent with the right international expertise. Give us a call today at 305-305-3885 and we’ll be happy to answer your questions.

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!)

May Downtown Miami

         May 2016 Sales Report – Downtown Miami

 

Total Transactions:27

($) Volume:$12,526,357

Highest Priced Sale: Parc Lofts – 1749 NE Miami Ct #604 – $1,100,000

May Parc Lofts
This huge NY style unit at Parc Lofts was May’s highest priced sale

1800 Biscayne Plaza

  • 275 NE 18th St #1403 – 2/2, $322,500

1800 Club

  • 1800 N Bayshore Dr #409 – 1/2, $332,500

50 Biscayne

  • 50 Biscayne Blvd #3803 – Studio, $210,000
  • 50 Biscayne Blvd #1509 – Studio, $228,000
  • 50 Biscayne Blvd #611 – Studio, $235,000
  • 50 Biscayne Blvd #914 – 1/2, $339,000
  • 50 Biscayne Blvd #1511 – 2/2, $390,000
  • 50 Biscayne Blvd #5201 – 2/2, $465,000

900 Biscayne Bay

  • 900 Biscayne Blvd #3208 – 2/3, $615,000

Epic Residences

  • 200 Biscayne Blvd Way #3111 – 1/1.5, $380,000
  • 200 Biscayne Blvd Way #4412 – 1/1.5, $395,000
  • 200 Biscayne Blvd Way #4612 – 2/3, $730,000
  • 200 Biscayne Blvd Way #4108 – 2/2.5, $850,000
Epic Residences Miami
#4108 at Epic, which sold last month, was a featured story earlier this week

The Loft I

  • 234 NE 3rd St #409 – 1/1, $170,000

The Loft II

  • 133 NE 2nd Ave #2217 – 1/1, $205,000
  • 133 NE 2nd Ave #2302 – 2/2, $330,000

Marina Blue

  • 888 Biscayne Blvd #3802 – 1/1.5, $392,000

One Miami

  • 335 S Biscayne Blvd #2409 – 3/2, $950,000
  • 325 S Biscayne Blvd #2715 – 2/2, $460,000
One Miami apartments
One Miami continues to be a very valuable option for waterfront condos

Opera Tower

  • 1750 N Bayshore Dr #2507 – Studio, $180,000

Parc Lofts

  • 1749 NE Miami Ct #604 – 2/2, $1,100,000

Quantum On The Bay

  • 1900 N Bayshore Dr #2609 – 1/1.5, $263,857
  • 1900 N Bayshore Dr #3202 – 2/2.5, $527,500

Ten Museum Park

  • 1044 Biscayne Blvd #1403 – 2/2.5, $850,000
  • 1044 Biscayne Blvd #2002 – 2/2.5, $850,000
Ten Museum Park Miami
Both sales in Ten Museum Park in May sold for $850,000

The Grand

  • 1717 N Bayshore Dr #A-1253 – 1/1, $295,000
  • 1717 N Bayshore Dr #A-3136 – 2/2, $461,000

 

As always, 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 June sales report.

Downtown Miami real estate is our expertise. As local specialists in the area, we strive to give you an advantage over the competition. Message us today or call us at 305-305-3885 to discuss. Thanks for reading The Miami Observer!

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