KB MONTHLY REAL ESTATE REPORT by Cristina Preti SINGLE FAMILY HOMES
Although sales in the luxury residential market are still flat, as we entered the second half of 2016, we have been seeing a slight change in the past few weeks, especially in condo sales. The average sale price for a condo in the second quarter of 2016 has decreased almost 25% compared to the previous quarter, resulting in an increase in closed sales. Price adjustment is the key to make the market move again. The high end market is definitely becoming a “buyer’s market” due to the high inventory that continues to put pressure on asking prices.
July 2016 2nd Quarter 1st Quarter Total number of Sales 7 1 9 Average sale price $2,687,500.00 $2,871,285.71 $4,621,944.44 Average price per sq.ft. $673.56 $860.74 $1,120.29 Average days on the market 9 92 244 Minimum days on the market 78 58 Maximum days on the market 667 873 Close price to List price ratio 92% 87% 249
READ THE FULL KEY BISCAYNE 2ND QUARTER 2016 RESIDENTIAL REPORT
CONDOS
Visit : www. cristin ap re ti. com
CRISTINA PRETI
305.815.5282
cristinapreti@me.com
GABLES EDGE
K E Y B I S C AY N E 445 Grand Bay Dr Unit #1009
Total number of Sales Average sale price Average price per sq.ft. Average days on the market Minimum days on the market Maximum days on the market Close price to List price ratio
$3,600,000
Gables Edge is a beautiful community consisting of eight amazing townhomes that delivers a classic design and modern lifestyle with luxury interiors. The project also incorporates comfort and privacy along with exclusivity.
CORAL GABLES, FL
Grand Bay. Gorgeous & spacious 3BR, 4.5BA corner unit w/ direct Ocean views and tastefully decorated. Private elevator opens to entrance foyer, family room, dining room, & breakfast area. Separate master bedroom comes w/ his/her marble bathrooms. Many closets & separate laundry room. Marble floors in living areas and all rooms open to large balconies facing East or South. This unit comes w/ a storage unit and 2 parking spaces. This unit is sold furnished.
605 Ocean Dr Unit #2L
July 2016 2nd Quarter 1st Quarter 52 12 38 $881,000.00 $1,014,361.02 $1,410,110.66 $508.76 $641.65 $714.45 38 252 140 64 20 36 583 342 536 86% 94% 168
Located one block away from Coral Gables, with close distance to Coral Gables Business District, Miracle Mile, and Ponce de Leon. One block away from Coral Gables Hospital, and Douglas Road.
Points Of Interest five minutes away from Village of Merrick Park, the Biltmore Hotel, Venetian pool, University of Miami, shopping, entertainment, and schools.
$1,650,000
Sands of Key Biscayne. One of a kind! Only 2 units per floor! Spacious and very sunny 3 BR, 3 BA with a huge living area ( balcony has been enclosed ), marble floors, Hurricane resistant windows. South exposure with garden & ocean views. Washer/dryer, wine cooler inside unit. Freshly painted. 1 Storage space. 1 parking space. A maximum of 2 vehicles may be registered per unit and an additional space is available for a second vehicle on a first come, first serve basis.
CORINA BETANCOURT 954.665.4162
MARIA LUCENA
305.815.6161
betancourt.c@ewm.com
COMPLETION SUMMER OF 2017
CO N T R AC T P E N D I N G
$2,995,000
17555 Collins Ave Unit #3901, Sunny Isles Beach $2,814,000
Gorgeous, light, bright, chic home on the water w/ no bridges to bay, inside prestigious gated Sunrise Harbour community. 120FT of water frontage located at the end of a cul de sac, will accommodate your sailboat or yacht. This house is ideal for a boating enthusiast, impact windows, 2 car garage, and an ample master BR/BA upstairs. Secured, gated tropical paradise in the heart of Coral Gables.
6935 Sunrise Ct, Coral Gables
The Pinnacle. Gorgeous, fully updated 4 BR, 4.5 BA corner Penthouse situated at the top of the Pinnacle! Direct Ocean, City & Intercostal views. Private elevators. Marble floors throughout & top-of-the-line Miele & Sub Zero appliances. Ultimate resort-style living in a full-service bldg w/ luxurious amenities. Rare opportunity to own a large luxury PH in Sunny Isles Beach w/ direct beach access. 2 assigned parking spaces. Minutes to Aventura, Bal Harbour Shops, & Ft. Lauderdale Airport.
FLORENCIA MONI
786.200.4867
SPENCER RAYMOND
305.951.5970
330 Fernwood Rd #1 & #2 Key Biscayne, FL
ISLAND LUXURY TOWNHOMES To be completed in 2017. 3 main levels featuring a large living and dining room, a spacious fully equipped kitchen, and a guest bathroom. 3 bedrooms, 3 bathrooms en-suite. Private pool and unique landscaping. Close to the Village Park, Rec Center, and beaches. Both townhouses are available for Sale!
$2,295,000
177 Ocean Lane Dr Unit #1212, Key Biscayne $3,950/mo
IFIGENIA GONZALEZ
Commodore Club East. Spacious and bright, totally renovated 2 BR, 2 BA unit, private balcony with ocean view. Washer and dryer inside unit. Close to the beach, tennis courts, party room and security.
786.302.0596 gonzalez.i@ewm.com
MARILYN BORROTO
K E Y B I S C AY N E 1111 Crandon Blvd #C202, Key Biscayne
$1,190,000
Towers of Key Biscayne. Totally remodeled unit w/ brand new kitchen and bathrooms. Top-of-the-line appliances. Originally deliverd as a 3 bedroom by developer. 2 covered parking spaces. Like a house in a condo setting.
SILVIA BERMUDEZ ADOLFO J. MALAVE
786.201.5757 305.213.9962
BRICKELL Ocean Club Cabana #410 210 Seaview Dr Unit #405, Key Biscayne
$2,950/mo
Cape Florida Club Condo. Enjoy 2 BR, 2 BA, pool, tennis court, clubhouse, BBQ, and green area. Private beach access, locker room, and bicycle locked section.
MARILYN BORROTO
305.496.1701
EWM Offers A World of Advantages For Realtors®, Too! If you would like to talk about the possibility of joining our EWM family, I’d be happy to hear from you. It’s a great time to be a Realtor® at EWM!
Call For Pricing
Located on the North side and completely private Grand Cabana For Sale. Fully furnished. For sale to Ocean Club owners only.
ROBERTA TAZZINI 786.970.3689 r tazzini@g m ail.com
305.496.1701
Vivian Galego-Mendez VP-Managing Broker Key Biscayne Office 305.361.5600
Key Biscayne Office • 644 Crandon Boulevard, Key Biscayne, FL 33149 • 305.361.5600