North Beach Condo Sales 2013April 17, 2014
Given this incredibly long and brutal winter for everyone in the United States, except for those of us lucky enough to live in Sunny SoFla, it’s no wonder we saw more buyers from more places this year, trying to find their winter haven in Miami Beach. And with prices in South Beach reaching an average of $373/sqft, a lot of buyers found that haven in North Beach with about 50% more stretch in their dollar. If you were considering an affordable condo in North Beach, units sold at an average below $200,000. As a second home buyer, you could finance 70% and it would cost you under $700/month (yes, less than a night in a swanky South Beach hotel) to own. Throw in the maintenance, taxes & insurance, and you’re within $1200/month for a 2 bedroom condo a couple of blocks from a 32 acre beachfront park in North Shore. For a look at the affordable condo deals that closed in 2013 and reported in the MLS, click on the link below:
In the first half of 2013, the average sale price of a condo in North Beach was $138,367, or $175.48 per square foot with a total of 158 sales. Included in this affordable review are waterfront condos like Aquasol, and gut renovated condo conversions like 401BLU. The second half of 2013 showed an increase of almost 20% on the price per square foot with the number of sales at 185. To sum it up, there were 343 affordable condos sold in North Beach for a total sales volume reaching of $50,846,503 in 2013 at an average price of $148,240 per unit, well below the starting price of a studio in South Beach.
But North Beach is not just about charming MiMo buildings. There are some wonderful luxury condos stretching along the ocean and bay that have attracted primary and seasonal residents alike. Most have been built after 1990. Besides the luxurious Canyon Ranch with it’s well known Spa and wonderful amenities, there are buildings like the St Tropez with only 4 residences per floor and endless views towards the ocean and the bay, or the Akoya which offers a tennis court, putting green, and indoor racquetball court. In the first half of 2013, there were only 25 sales in this category, while the last half saw 3 times as many sales. The average price per square foot is reaching $600. To see what sold in 2013 using MLS data, click on the link below:
If you’re wondering how 2014 has been fairing, already in this luxury market, there have been 76 sales for a total volume of $50,811,390. For the more affordable condos, there have been 149 sales for a total volume of $28,571,458.
I hope you enjoyed reading up on the latest sales activity in North Beach as much as we do at Urban Resource. It seems the word is spreading- North Beach has what you’re looking for – and Urban Resource can help you find it. Whether it be an affordable condo, a luxury residence, or a single family home in some of our beautiful islands, give us a call, or stop by our office in the neighborhood. We love showing North Beach off, and there’s plenty of exciting things to come.