Biscayne Beach Sales Market Update – October 2017
Just over a month after the first closed condo resale at Biscayne Beach (read more about the transaction here), we are patiently awaiting more resale transactions, with 0 units currently listed as pending, or under contract. There are currently 88 available units for sale, or 22.5% of the building inventory, with an average list price of $722 per square foot, and a minimum of $466 per square foot for unit 301, a 2-bed, 2.5 bath northwest corner residence. Thanks to the one closed resale at Biscayne Beach thus far, the average sales price per square foot remains $597. A huge portion of sales listings have been reduced from their original asking price, so it will be very interesting to track the average list price per square foot over the next few months and into the real estate busy season. No doubt some lucky buyers will be securing Biscayne Beach condos at great prices over the course of the next year, as more Miami condo developments are completed. Make sure to contact us if you’re interested in buying, selling, or renting at Biscayne Beach – we are your building experts!