paramount-bay-condos-market-report-september-2014

Paramount Bay Condos – Market Report for September 2014

paramount bay condos by miamism.com

Paramount Bay Condos Real Estate Market Report

There are currently 33 Paramount Bay Condos for sale: (3 less than last month)

  • Highest priced listing is unit PH4702 $4.4 Million *4 bedroom / 4.5 bathroom penthouse
  • Lowest priced listing is unit 705 for $700,000 (1 bedroom / 2 bathrooms)
  • Pending Sales (properties under contract): 7 (3 more than last month)
  • Closed sales in September: 4 (compared to 1 in August)

The Paramount Bay Condos sold in September 2014 were the following:

  • PH4402 – developer unit originally listed in October of 2013 for $3.8 Million, and selling for $3.1 Million ($699/sq.ft.)
  • 3901 – listed in July for $1,350,000 and selling in September for $1,175,000 ($671/sq.ft.)
  • 2207 – originally listed in November of 2013 for $1,250,000, selling in May for $1,185,000 – listed again 2 weeks later for $,185,000 and selling for $1,160,000 ($643/sq.ft.)
  • 604 – listed in March of 2014 for $749,00, with several price reductions and selling for $650,000 ($524/sq.ft.)

The average price per square foot in September was $634 compared to this year’s average of $609 and 2013’s average of $596.  It is obvious that floor height, condition and views of the residence will ultimately determine the closing price, but Paramount Bay continues to show gradual appreciation. Everyone’s unanswered question is how the values will change once there is more ready inventory in the Edgewater area, like Icon Bay or The Paraiso project.  We will just have to wait and see.  The demand for land in the areas continues to be strong and The RELATED group just paid $29 million for a property on Biscayne Blvd, just north of The Arsht Performing Arts Center.   PLEASE CALL US FOR A LISTING PRESENTATION 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 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. Condo Name:  Paramount Bay Architecture:  Arquitectonica Interior Design:  Lenny Kravitz Location:  2020 N Bayshore Dr – Miami, FL 33137 Contact:  paramountbay@miamism.com

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