Latest Park West Condo Sales Report

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2017 continues to be a very interesting year for the Park West neighborhood of Downtown Miami. Nevertheless, the year has been an interesting one for all across South Florida to say the least.

Everything from pricing adjustments to hurricane disasters have shaped our attitudes and outlook of the tropical metropolis we all call home. With everything that has happened in our lives, the year has felt like a tale of two different years. One side of 2017 moved at a frenetic pace, with each week sprinting towards the other. Meanwhile, another feels so convoluted that events that happened just a few months back fade into what seems like a distant memory.

With its gleaming high rise towers filled with condos facing the bay, Park West has remained a staple in Downtown Miami’s real estate market. Its walkability to world class venues such as PAMM and the AAA, along with dozens of restaurants and nightlife nearby, it personifies the vibrant energy that reflects its status as one of Downtown’s newest neighborhoods. The charts below should help provide an idea on what to expect over the next upcoming months in Miami..

For Sale Vs Sold: Park West Miami

900 BISCAYNE, MARINA BLUE, MARQUIS, TEN MUSEUM


Single Family Homes and Condo/Coop/Villa/Twnhse Combined
Curnt vs. Prev Month: For Sale -4.9% | Sold 40% | Pended -58.3%
Curnt vs. Same Month 1 Yr Ago: For Sale -6.6% | Sold 250% | Pended -54.5%
* This representation is based in whole or in part on data supplied by the Realtor Association of Miami, the Greater Fort Lauderdale Realtors, or the Southeast Florida Multiple Listing Service (MLS).

Months Of Inventory

900 BISCAYNE, MARINA BLUE, MARQUIS, TEN MUSEUM


Single Family Homes and Condo/Coop/Villa/Twnhse Combined
Curnt vs. Prev Month: Months of Inventory (Closed Sales) -32.2%
Curnt vs. Same Month 1 Yr Ago: Months of Inventory (Closed Sales) -73.4%
* This representation is based in whole or in part on data supplied by the Realtor Association of Miami, the Greater Fort Lauderdale Realtors, or the Southeast Florida Multiple Listing Service (MLS).

Closed Sales (As Of 11/06/2017): 39

Unit #Subdivision/Complex List PriceSale Price#Beds#FBaths#HBathsSF
#PH6301Marquis3,745,0003,500,0003313831
#PH6101900 Biscayne Bay2,490,0002,100,0004413493
#3602Ten Museum Park1,149,000950,0002211802
#4206Ten Museum Park1,080,000940,0002212573
#4901900 Biscayne Bay939,000862,5002311796
#5002900 Biscayne Bay899,500860,000331575
#2801900 Biscayne Bay 855,000800,0002311796
#2402900 Biscayne Bay839,000750,0003301712
#5102900 Biscayne Bay815,000800,000331712
#2401900 Biscayne Bay800,000700,0003401796
#3302900 Biscayne Bay795,000729,0003301575
#3809900 Biscayne Bay789,000730,000231712
#2902900 Biscayne Bay770,000729,000331575
#TH903900 Biscayne Bay769,000700,000331694
#4308Marina Blue755,000695,0002211334
#5304Marina Blue745,000715,0002211663
#5303Marquis 699,000662,5002211498
#5102Marquis 699,000675,000221557
#1609Marina Blue659,000595,0002211323
#3804Marquis 650,000630,0002211477
#3008900 Biscayne Bay619,800607,0002301576
#2308900 Biscayne Bay598,900590,0002301579
#4805Marina Blue585,000520,000221322
#5005900 Biscayne Bay575,000505,00012929
#3005Marina Blue550,000500,000221322
#5112900 Biscayne Bay549,900520,0002211237
#2512900 Biscayne Bay499,900490,0002211237
#3605900 Biscayne Bay485,990430,00012929
#4005900 Biscayne Bay485,000445,00012929
#812Marina Blue479,000441,0002201327
#3905900 Biscayne Bay469,999445,000120929
#4310900 Biscayne Bay439,000410,0002201140
#2303900 Biscayne Bay430,000395,000120912
#2106Ten Museum Park429,500407,0002211123
#4604900 Biscayne Bay420,000405,000120938
#3507Marina Blue398,888385,000111833
#3008Ten Museum Park380,000320,000111850
#2808Ten Museum Park330,000320,000111808
#2608Ten Museum Park319,000319,000111850

Click here for more details. The link includes more details on each sale.

Additional Remarks:

  • As I mentioned on my last Park West report earlier this year, the neighborhood continues to be a buyer’s market. However, a great deal of improvement continues to be a recurring theme in this report, with a level of closes sales and activity that remains highly consistent. Much of this continues to be a result of more Sellers continuing to price their properties in accordance to our current market.
  • Please note that I omitted the overall $/SF chart for all four high rises combined on purpose. The reason I chose to omit it is simple: Each of the four buildings is unmistakably unique from one another despite the fact that each one stands within the same city blocks of Biscayne Blvd between 8th and 11th Street. In order to be more precise, the $/SF of each one should be reviewed individually, especially for purposes related to more accurate pricing. Please contact me directly for those figures.
  • Finally, with only two of the 39 properties having closed in the $1M and above range, the highest concentration of supply continues to lay on the luxury market of Park West. At the time that I wrote this report, there are over 42 properties for sale in Park West priced at $1,000,000 or above.

We are dedicated to providing the best information about Miami Real Estate. Call us today at 305-305-3885 or send us a message here if you’re interested in buying or selling in the area. Our local knowledge of the market, combined with our experience will enable us to provide you with the best possible results.

Please visit The Miami Observer regularly for other great stories.

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