By Sunny Isles Real Estate Expert on January 23rd, 2011
Despite what may seem to be an ailing Miami real estate market
the recent interest in condominium properties in South Florida makes it a good time to list. Sales figures show that prices for some condominium properties, such as Jade Beach, have performed better than expected. The prices for properties such as this one, located in a towering glass building with views of the ocean and the city, rival those paid for properties in the traditionally more expensive real estate market of South Beach.
If you’re trying to calculate the amount of money you might get from your property, it’s easiest to arrive at a realistic figure by looking at the price per square foot. In the case of Jade Ocean condo, data for the third quarter of 2010 shows that buyers were paying $687 per square foot for real estate at the condominium. This is an excellent rate. In the fourth quarter of 2010, the average price paid for a property at Jade Ocean was $1.38 million, definitely a price that makes listing something worth considering.
While the economic news has generally been down lately, it’s important to remember that the luxury market continues to be active. Affluent buyers still have the power to acquire new properties and South Florida is still one of the most popular markets for such buyers. Listing a condo at a property such as Jade Ocean can be a very profitable proposition.
Jade Ocean is located in Sunny Isles Beach, Florida
This city is known primarily as a luxury resort community. It provides excellent access to the Intercostal waterway and there are ample upscale stores and clubs located in the area. Sunny Isles beach has a distinct advantage over some other luxury markets in the US. The city is known for being a draw for celebrities and for affluent individuals and families all over the world. This means that listing in this area have a potentially worldwide market.
The prices commanded by properties at this tower were well in excess of any paid for properties at other condominium towers in the area. The average price paid for condominiums in the area was $511 per square feet, putting Jade Ocean Sunny Isles in excess of $160 above the average paid for a square foot of luxury real estate in one of the areas fashionable high-rise condominium properties.
As an example of the differences between the luxury markets and the regular real estate market, consider how the affluent oftentimes purchase property. A Miami Heat basketball player recently bought a mansion, for well in excess of $10 million, without ever seeing the property in person. For those who have the means, buying real estate has not lost any of its appeal. What makes Jade Ocean itself so appealing most certainly includes the luxurious surroundings and high-tech amenities its residents enjoy. There is always the question of whether or not the prices will stay favorable, of course, and the question of whether or not inventory will move.
Jade Ocean has a sister property Jade Beach
where all of the properties have sold. The average price paid for properties at that building was $650 per square foot. With an improving market and the speed that properties in other units have moved, 2011 seems like a good time to list for those who are interested in moving their properties. The key to listing effectively, however, is to have a good Sunny Isles Beach realtor. In the luxury market, this is even more the case than it is on others.
have been bought up both by individuals and by developers. This audience, of course, has to be reached if you plan on being able to move your property. Without the right person to represent your property, it’s much harder to sell a condominium and it’s likely that you won’t get the amount of money you want, or expect, for your property. Realtors in the luxury market have the expertise to move condominium properties in Sunny Isles Beach or anywhere else, and properties will generally sell much faster with a realtor making sure they’re marketed properly.
With Jade Ocean and its sister property proving very desirable to individuals, and with property at the Jade Ocean development commanding such a high price, listing now has to potential to be very profitable. Remember that a realtor with experience in this region is the best to handle these properties. The market in Florida is famous for moving very fast and, at present, with prices for property increasing along with the interest in them, that means that a good realtor is a key element in making sure you make as much as possible off of your sale.