Bal Harbor Real Estate Market Report for March and May 2015

Bal Harbor Real Estate Market Report

There are currently 162  Bal Harbor condos for sale: (11 less than in March)

• Highest priced listing: St Regis residence 1701S for $25 million (7 bedrooms / 7 bathrooms / 2 half-baths, 13,254 sq.ft. of living space and over 3,500 sq.ft. of terrace)
• Lowest priced listing:  2 bedroom/1 bath unit at Bal Harbour Manors Co-op for $210,000
• Pending Sales: 17 (1 less than in March)
• Closed sales in April and May: 19

The 19 Bal Harbor Condos sold in April and May of 2015 were the following:

• Bal Harbour 101 – 1 Sale –  10155 Collins Ave – unit 810 – listed for $2.4 million and selling for $2.3 million ($697/sq.ft.)
• Balmoral Condo – 7 sales – 9801 Collins Av (average price/sq.ft. = $511)
  • unit 15V – 2 bedrooms / 2 bathrooms and 1,388 sq.ft. – listed for $625,000 and selling for $575,000 ($424/sq.ft.)
  • PH10 – 2 bedrooms / 2.5 bathrooms and 2,100 sq.ft. – listed for $1,349,999 and selling for $1,200,000 ($571/sq.ft.)
  • unit 6L – 3 bedrooms /3.5 bathrooms and 1,968 sq.ft. – listed for $1,299,000 and selling for $1,225,000 ($622/sq.ft.)
  • unit 14G – 2 bedrooms / 2 bathrooms and 1,388 sq.ft. – listed for $849,000 and selling for $815,000 ($587/sq.ft.)
  • unit 6C – 2 bedrooms / 2 bathrooms and 1,688 sq.ft. – listed for $859,000 and selling for $780,000 ($462/sq.ft.)
  • unit 8K – 2 bedrooms / 2 bathrooms and 1,776 sq.ft. – listed for $849,500 and selling for $849,500 ($478/sq.ft.)
  • unit 5Q – 2 bedrooms / 2 bathrooms and 1,388 sq.ft. – listed for $650,000 and selling for $600,000 ($432/sq.ft.)
• Harbour House – 4 Sales – 10275 Collins Av (average price / sq.ft. = $537)
  • unit 928 – 1 bedroom / 1.5 bathrooms and 896 sq.ft. – listed for $449,000 and selling for $445,000 ($497/sq.ft.)
  • unit 226 – 1 bedroom / 1.5 bathrooms and 896 sq.ft. – listed for $359,900 and selling for $325,000 ($363/sq.ft.)
  • unit 1001 – studio with 1 bathroom and 481 sq.ft. – listed for $289,000 and selling for $275,000 ($572/sq.ft.)
  • unit 518 – 2 bedrooms / 2 bathrooms and 1,056 sq.ft. – listed for $779,000 and selling for $745,000 ($714/sq.ft.)
• Kenilworth Condo – 2 Sales – 10205 Collins Av (average price / sq.ft. = $539)
  • unit 603 – 2 bedrooms / 2 bathrooms and 1,735 sq.ft. – foreclosure listed for $710,000 and selling for $750,000 ($432/sq.ft.)
  • unit 1202 – 2 bedrooms / 2.5 bathrooms and 2,325 sq.ft. – listed for $1,585,500 and selling for $1,500,000 ($645/sq.ft.)
• One Bal Harbor – 1 Sale – 10295 Collins Av – unit 1115 – studio with 1 bathroom and 510 sq.f.t – listed for $650,000 and selling for $630,000 ($1,235/sq.ft.)
• St Regis Bal Harbour – 2 Sales – 9701 Collins Ave (average price / sq.ft. = $2,028)
  • unit 1105N – 2 bedrooms / 2.5 bathrooms and 1,599 sq.ft. – listed for $3.5 million and selling for $3,275,000 ($2,048/sq.ft.)
  • unit 1901-S – 4 bedrooms / 4.5 bathrooms – 3,884 sq.ft. – listed for $8,995,000 and selling for $7,800,000 ($2,008/sq.ft.)
• The Plaza of Bal Harbour – 2 Sales – 10185 Collins Av (average price / sq.ft. = $441)
  • unit 1217 – 2 bedrooms / 2 bathrooms and 1,412 sq.ft. – listed for $875,000 and selling for $800,000 ($567/sq.ft.)
  • unit 1416 – 2 bedrooms / 2 bathrooms and 1,434 sq.ft. – listed for $489,000 and selling for $450,000 ($314/sq.ft.)

In the past 2 months, the building with the most sales volume is evidently Harbour House with an average price per square foot of $511.  The highest priced building continues to be St Regis as expected with an average price per square foot of $2,028.  The second highest priced building in the past 2 months is One Bal Harbor, followed by Bal Harbour 101 and close 4th place are Harbor House and Kenilworth. It’s important to note the disparity in building prices and hence sales history in each particular building is key for getting right comparables.  To compare these sales to 2014 figures, please visit Bal Harbour Real Estate Market Update for 2014.

To sign up to our Home Trend Reports, go to MiamismTRENDS.com and fill in your information. Call us Today for a listing appointment! If you are interested in getting a list of all properties currently for sale in Bal Harbor or your particular building, we will be happy to send you a digital copy at your request.  We can also send you monthly market reports directly to your inbox. Feel free to email us at BalHarbor@miamism.com