Paramount Bay Condos – Market Report for January 2014

Paramount Bay Condos Real Estate Market Report

There are currently 31 Paramount Bay Condos for sale: (3 more than last month)

• Highest priced listing is unit PH4602 for $4,899,000 (4 bedrooms / 4.5 bathrooms)
• Lowest priced listing is loft unit 705 for $699,000 (1 bedrooms / 2 bathrooms)
• Pending Sales (properties under contract): 10 (4 more than last month)
• Closed sales in January: 2 (compared to 6 in December)

The 2 Paramount Bay Condos sold in January 2014 were the following:

• Unit 1805 – 2 bedroom / 2 bathroom 1,214 sq.ft. listed for $699,000 and selling for $699,000 ($576/sq.ft.)
• Unit 602 – 3 bedroom / 3.5 bathroom 2,353 sq.ft. listed for $1,595,000 and selling for $1,475,000 ($627/sq.ft.)

The average sold price per square foot in January of 2014 was $602 which is higher than 2013’s average of $596.  As we said last month, we expect the average price per square foot to continue to increase gradually.  Demand continues to grow in the Edgewater area of Miami and it’s believed to be Miami’s next “Trendy Place to Live.” The Miamism Sales Team specializes in Paramount Bay and can represent you in the sale or purchase of a condo.  Please contact us ParamountBay@Miamism.com.  We prepare monthly market reports to keep you informed of sales stats at Paramount Bay.

What can you buy for under $1 Million at Paramount Bay Condo

Let me start off by saying that the photos for most of these properties are atrocious – but it gives you an idea of what you can buy at Paramount Bay for under $1 Million right now.

• unit 705 – 1 bedroom / 2 bathrooms – 1,214 sq.ft. listed for $699,000 ($576/sq.ft)
• unit 2405 – 2 bedrooms / 2 bathrooms – 1,147 sq.ft. listed for $745,000 ($650/sq.ft.)
• unit 1108 – 1 bedroom / 2 bathrooms – 1,128 sq.ft. listed for $759,000 ($673/sq.ft.)
• unit 2004 – 2 bedrooms / 2 bathrooms – 1,240 sq.ft. listed for $765,000 ($617/sq.ft.)
• unit 1809 – (no photos of interiors) 2 bedrooms / 2 bathrooms – 1,128 sq.ft. listed for $790,000 ($700/sq.ft.)
• unit 1708 – 1 bedroom / 2 bathrooms 1,128 sq.ft. – listed for $797,000 ($707/sq.ft.)
• unit 1709 – 1 bedroom / 2 bathrooms 1,128 sq.ft. – listed for $819,000 ($726/sq.ft.)
• unit 3308 – 2 bedrooms / 2 bathrooms 1,128 sq.ft. – listed for $940,000 ($833/sq.ft.)
• unit 1601 – 2 bedrooms / 2.5 bathrooms 1,751 sq.ft. – listed for $995,000 ($568/sq.ft.) <<BEST PURCHASE!!

For more information about this Miami condo building, take a look at  Paramount Bay Condos written after my visit in September of 2012.  You can also visit www.Paramount-Bay-Condos.com to go straight to source of information. For further information, please email us at ParamountBay@miamism.com Condo Name:  Paramount Bay Architecture:  Arquitectonica Interior Design:  Lenny Kravitz Location:  2020 N Bayshore Dr – Miami, FL 33137 Contact:  paramountbay@miamism.com