Paramount Bay Condos – Market Report for July 2014

Paramount Bay Condos Real Estate Market Report

There are currently 35 Paramount Bay Condos for sale: (same as last month)

• Highest priced listing is unit PH4602 for $4,899,000 (4 bedrooms / 4.5 bathrooms) **developer unit
• Lowest priced listing is unit 2109 for $695,000 (2 bedrooms / 2 bathrooms)
• Pending Sales (properties under contract): 3 (1 less than last month)
• Closed sales in July: 4 (2 more than last month)

The 4 Paramount Bay Condos sold in July 2014 were the following:

• Residence 4003- originally listed for $1,625,000 in April of 20014, with several price reductions and finally selling at $1,225,000 ($570/sq.ft.)
• Residence 2006 – originally listed in September of 2013 and then again in January of 2014, for $1,450,000, reduced to $1,250,000 in June and closing at $1,200,000 ($720/sq.ft.)
• Residence 706 – originally listed for $1,290,000, reduced a few times and selling for $900,000 ($540/sq.ft.)
• Residence 2405 – listed for $745,000 and selling for $715,000 ($623/sq.ft.)

The average price per square foot at Paramount Bay from January to July 2014 has been $662, compared to 2013’s average of $596 per square foot. Average price per square foot on a monthly basis continues to fluctuate but when you look at the overall picture, you see appreciating prices – these are not conservative considering a $66/sq.ft. increase in 7 months.  There are amazing projects being sold in pre-construction in the Edgewater area right now, but this just makes Paramount Bay the more desirable – it is built, you know what to expect, and your water views will never change because of the flow-through units. 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. We are now also providing these quick services to help with your real estate needs: CHECK YOUR CURRENT HOME VALUE GET A FREE SELLER GUIDE NAME YOUR SELLING PRICE 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