Hi friends,

Let’s locate and analyze the top ten Miami Beach luxury condo sales from 2007 to 2011 including the average selling price per square foot in the luxury tier for the year.

2007 (Average Price Per Square Foot = $1,243) -

1. 1500 Ocean Drive #T8 Sold at $12M ($1005 psf)
2. Fisher Island #7263 Sold at $9M ($1320 psf)
3. Fisher Island #7192 Sold at $8.9M ($na psf)
4. Icon South Beach #PH2 Sold at $7M ($876 psf)
5. Fisher Island #7142 Sold at $8.3M ($1181 psf)
6. Continuum #2803 Sold at $6.5M ($1361 psf)
7. Portofino Tower #4003 Sold at $6.472M ($1505 psf)
8. Fontainebleau II #PH3702 Sold at $6.4M ($1488 psf)
9. Fisher Island #7415 Sold at $7M ($1400 psf)
10. Fisher Island #7782 Sold at $6.5M ($1053 psf)

2008 (Average Price Per Square Foot = $1,333) -

1. Fisher Island #7274 Sold at $12.360M ($1389 psf)
2. Fisher Island #7111 Sold at $7.2M ($1429 psf)
3. Fisher Island #7453 Sold at $11.2M ($1383 psf)
4. Fisher Island #7191 Sold at $8M ($1356 psf)
5. Fisher Island #5031/2 Sold at $5.6M ($820 psf)
6. Continuum #1606/7 Sold at $6.025M ($1376 psf)
7. Apogee #2004 Sold at $7.3M ($1757 psf)
8. Setai #PH VC Sold at $6M ($1680 psf)
9. Bath Club #Villa 4 Sold at $6.7M ($1175 psf)
10. Bath Club #Villa 6 Sold at $5.5M ($967 psf)

2009 (Average Price Per Square Foot = $1,225) -

1. Continuum #PH 1 Sold at $9.9M ($1343 psf)
2. Il Villaggio #PH 6&7 Sold at $7M ($1228 psf)
3. Murano at Portofino #3801 Sold at $7.450M ($1557 psf)
4. Fisher Island #7712 Sold at $5.457M ($974 psf)
5. Apogee #1104 Sold at $6M ($1444 psf)
6. Apogee #1404 Sold at $6M ($1444 psf)
7. One Bal Harbour #2008 Sold at $5.2M ($987 psf)
8. Apogee #1201 Sold at $5.450M ($1312 psf)
9. Continuum #3804-5 Sold at $6.250M ($1179 psf)
10. Acqualina #PH 4506 Sold at $4.999M ($779 psf)

2010 (Average Price Per Square Foot = $1,651) -

1. Setai #B Sold at $15M ($2416 psf)
2. One Bal Harbour #PH 2108 Sold at $8.7M ($1653 psf)
3. Fontainebleau II #PH North Sold at $9M ($2000 psf)
4. Continuum #1804 Sold at $6.750M ($1622 psf)
5. Fisher Island #7223 Sold at $6.750M ($990 psf)
6. Apogee #904 Sold at $6.550M ($1577 psf)
7. Apogee #1801 Sold at $5.9M ($1420 psf)
8. Apogee #1104 Sold at $5.350M ($1288 psf)
9. W Hotel South Beach #UPH 1 Sold at $6.2M ($2253 psf)
10. Apogee #704 Sold at $5.3M ($1293 psf)

2011 (Average Price Per Square Foot = $1,657) -

1. Setai #PH A Sold at $21.5M ($3463 psf)
2. Apogee #PH A Sold at $11.5M ($1678 psf)
3. Continuum #3604-3 Sold at $10.576M ($1643 psf)
4. Fisher Island #7163 Sold at $8.150M ($1160 psf)
5. Fisher Island #7724 Sold at $7.724M ($1133 psf)
6. Fisher Island #7734 Sold at $7.250M ($1063 psf)
7. Apogee #2101 Sold at $7.5M ($1805 psf)
8. Apogee #1404 Sold at $7.350M ($1769 psf)
9. Continuum #801 Sold at $6.5M ($1226 psf)
10. Apogee #1001 Sold at $6.8M ($1637 psf)

Have we seen the bottom and when was it exactly? Is this the “bouncing bottom” or did “rock bottom” hit already with continued improvements in 2010 as South Beach condo inventory decreases? I’ve been wanting to know this too and we’ll soon discover South Beach condo pricing trends over the past 2.5 years and onwards as this year continues..

Yes, I have been absent from blogging. As KT once said, I’m a Realtor (Broker) first and blogger second (maybe third) but I will always have a passion voicing my opinions, analyzing the facts and speaking out loudly here for other to see and know. My personal business is explosive this year with normal sales, REO’s, short sales selling and buyers on an all time high with renewed confidence in the Miami “Beach” condo market since mid-2009. I believe it was the latest MiamiDreamRealty blog where I became overwhelmed, had to step back for awhile, and build a killer real estate team to handle the leads across the Miami Dade County beaches; finally finding & making time to blog here again!

South Beach (1st to 30th Streets) MIAMI Condo Pricing Trends:

2008 (873 total sales | Average SP/PSF $461)

January – 47 Sales at an average selling price per square foot of $515 and 92% SP/LP% (average buyer discount of 8%)

February - 48 Sales at an average selling price per square foot of $472 and 90% SP/LP% (average buyer discount of 10%)

March - 76 Sales at an average selling price per square foot of $467 and 91% SP/LP% (average buyer discount of 9%)

April - 86 Sales at an average selling price per square foot of $487 and 90% SP/LP% (average buyer discount of 10%)

May - 103 Sales at an average selling price per square foot of $492 and 91% SP/LP% (average buyer discount of 9%)

June - 98 Sales at an average selling price per square foot of $513 and 92% SP/LP% (average buyer discount of 8%)

July - 90 Sales at an average selling price per square foot of $468 and 92.5% SP/LP% (average buyer discount of 7.5%)

August - 80 Sales at an average selling price per square foot of $418 and 89% SP/LP% (average buyer discount of 11%)

September - 69 Sales at an average selling price per square foot of $470 and 92% SP/LP% (average buyer discount of 8%)

October - 62 Sales at an average selling price per square foot of $377 and 91% SP/LP% (average buyer discount of 9%)

November - 39 Sales at an average selling price per square foot of $364 and 91% SP/LP% (average buyer discount of 9%)

December - 75 Sales at an average selling price per square foot of $419 and 90% SP/LP% (average buyer discount of 10%)

2009 (912 total sales | Average SP/PSF $368)

January - 49 Sales at an average selling price per square foot of $457 and 88% SP/LP% (average buyer discount of 12%)

February - 55 Sales at an average selling price per square foot of $348 and 93% SP/LP% (average buyer discount of 7%)

March - 69 Sales at an average selling price per square foot of $368 and 91% SP/LP% (average buyer discount of 9%)

April – 71 Sales at an average selling price per square foot of $346 and 91% SP/LP% (average buyer discount of 9%)

May - 82 Sales at an average selling price per square foot of $381 and 89% SP/LP% (average buyer discount of 11%)

June - 104 Sales at an average selling price per square foot of $370 and 91% SP/LP% (average buyer discount of 9%)

July - 77 Sales at an average selling price per square foot of $356 and 90% SP/LP% (average buyer discount of 10%)

August - 80 Sales at an average selling price per square foot of $334 and 89% SP/LP% (average buyer discount of 11%)

September - 80 Sales at an average selling price per square foot of $396 and 92% SP/LP% (average buyer discount of 8%)

October - 75 Sales at an average selling price per square foot of $364 and 93% SP/LP% (average buyer discount of 7%)

November - 88 Sales at an average selling price per square foot of $334 and 90% SP/LP% (average buyer discount of 10%)

December - 82 Sales at an average selling price per square foot of $388 and 92% SP/LP% (average buyer discount of 8%)

2010 (so far.. 640 sales | Average SP/PSF $355)

January - 69 Sales at an average selling price per square foot of $353 and 92% SP/LP% (average buyer discount of 8%)

February - 75 Sales at an average selling price per square foot of $328 and 93% SP/LP% (average buyer discount of 7%)

March - 132 Sales at an average selling price per square foot of $335 and 94% SP/LP% (average buyer discount of 6%)

April - 89 Sales at an average selling price per square foot of $408 and 92% SP/LP% (average buyer discount of 8%)

PS. 2007 Sales Totaled 867 at an average PPSF of $504!

Check out more Miami Beach & Sunny Isles Real Estate juice here on Facebook! YouTube, Twitter, etc. Or you can easily reach me toll free at 1.888.383.DREAM (37326).

461 Ocean Boulevard

Rich and Famous Flock to Golden Beach.

Celebrities such as Bill Gates, Ricky Martin, Benjamin Rose, Paul Newman are just a few of the many past and present rich and famous residents of Golden Beach. Let’s not forget that famous Eric Clapton album and photo of 461 Ocean Boulevard, which was named after the Golden Beach house located at that address.

In fact, people from all over the world flock to Golden Beach, known not only for its luxury real estate and opulent life style, as well as its pristine sandy beaches with turquoise crystal clear waters, but also for the security and seclusion this community has to offer.

Did you know that Golden Beach has the largest police force of all the surrounding communities? Boy do they do a great job monitoring the streets and main road running through Golden Beach, Collins Avenue (also known as State Road A1A and Beachfront Avenue). This stretch of Collins Avenue does not even have sidewalks. If you want access to the beach, you need an invitation from a Golden Beach resident. There is no high rise construction or commercial development even permitted within the town limits.

Golden Beach is bounded by the Atlantic Ocean to the East, the Intracoastal Waterway to the West, and the coastal cities of Hallandale Beach on the North and Sunny Isles Beach to the South. Just a short drive to Miami or Ft. Lauderdale as well.

Located next to Golden Beach, you will find the famous Shoppes of Bal Harbour and some of the finest area dining, cultural centers and sports venues. You will also find the historic beach pavilion, three parks and much more. Golden Beach real estate consists of some of the most exclusive, upscale oceanfront luxury properties in the area as well as Intracoastal and dry lot homes. Prices are hefty starting in the million range up to $18,000,000+.

If you are looking for the life of luxury, then Golden Beach real estate, Bal Harbour real estate,  Sunny Isles Beach real estate, Miami Beach real estate and South Beach real estate are some of the best places to start. Golden Beach is centrally located and convenient to local area local airports. Only 18 miles from Miami International Airport and 15 miles from Ft. Lauderdale International and the Everglades.

Call for further information on the Golden Beach residential oceanfront community! 1.888.383.7326

Bal Harbour residents have long advocated for improvements to their beach, which has shrunk to small dunes in some places thanks to natural erosion and several active hurricane seasons.

Bal Harbour real estate is placing a band-aid on its beaches which have seen major erosion in the past few years. Currently the replenishment project is underway with the city dumping money ($8.2 million!) and truck loads of sand to assist prior to the hurricane season in an effort to remedy the problem and prepare for any additional erosion. Congress woman Ileana Ros-Lehtinen has been working diligently with the US Army Corps of Engineers to allow foreign sand to be brought in thus speeding up the re-nourishing process. Last week, one of many Caterpillar trucks hauling beach quality sand from Orlando to Miami Dade began dumping it’s cargo on Bal Harbour’s beach. The sand is being dumped to add height and width to beaches in Bal Harbour, Sunny Isles Beach and Miami Beach. State and county funds are being used for the re-nourishment project, which will cost an estimated $10 million and expected to last six more weeks. The beaches are open to the public except for the immediate areas where dumping is taking place.

Are you a resident concerned on the erosion of Bal Harbour? I’ve noticed Bal Harbour beaches have it the worst out of all Miami Dade Beaches with very little room for additional erosion as you can see in the picture above. An additional concern is seeking quality sand and where this source may be found. Let the readers hear your thoughts and suggestions on the erosion remedy.. Inquiring minds would like to know!

Trump Royale North East Views

Hello friends.. I would imagine the famous Miami problogger is doing a stellar business even with the start of the summer months as regular blog postings from my favorite Downtown expert Lechuga have gone from daily to… every so often. I do wonder the state of the Downtown Miami market? I can attest the consumer confidence is much higher along the beaches with fantastic deals from $50k to $10M. I’ve been very busy promoting real estate package deals to my database, selling great properties, listing new buys and leasing with very little time to post. I’ve also had writers block yet have new ideas on great posts to implement soon. Most of my posts include research, statistics, analysis plus my opinions & outlook on the data while I also like to throw in the pretty photos to entice the right brain thinkers. There are a few new trophy properties that I’m looking forward to promoting here soon such as a luxurious 4,000 SqFt. oceanfront townhome  and another distressed sale on a luxurious 4,000 SqFt 2 Story Penthouse property along with a 5 unit package deal with immediate flip potential.

I do believe resort towns such as Miami Beach FL & Sunny Isles Beach attract a more affluent crowd as we have a tremendous amount of wealth here with many “locals” coming for 6 months each year (winter) and staying at their other homes during the rest of the year. Just a decade ago, higher income earners were concentrated in counties with large numbers of financial, real estate and professional jobs. But the Internet & wireless technology, plus the ability to fly in and out of almost any airport in the country have freed the entrepreneur to move where they like in significant numbers. With condo values going down 30% to 50% since 2005, many are now finding awesome oceanfront opportunities for a new life and business operation at a distance. It’s great to bring your clients down here, when you say you’re in South Beach, Miami Beach, Bal Harbour or Sunny Isles Beach and your clients are up north, it’s not too hard to get them to come visit you to see what your offer is. People from all over the globe choose to live here with the average tropical temperature at 80 degrees, orange sunshine, blue skies & green palms. This paradise is topped with an amazing lifestyle offering just about anything the affluent could want from golf, boating, fine dining, arts & entertainment galore. When earning an income significantly above the norm, why not live in the most desirable locations to enjoy life’s successes.

Write in and Speak Your Mind…