Real Estate Market Report, August 2018.

One unit sold last month at The Bridgewater condominium. Corner unit #1802 with 2 BD / 2 1/2 BA sold for $349,500 after more than a year on the market. This unit is located on one of the most desirable lines of the building offering an unobstructed view of the northeast of Biscayne Bay and Miami Beach. This condo was finally sold as a cash transaction for $160K lesser than its original asking price. Sale prices in the condominium have been affected by the HOA prices, causing prospective buyers to walk away from the building.

Two units hit the market for sale last month. They listed for an average price per square foot of $302. With these new listings, the inventory of units active for sale is up to 16.

Three units hit the open market for rent last August at The Bridgewater.  With an average list price of $2,750 a month, we must mention that one of these units is already rented and another one is under contract.

A fantastic month of August with a total of 4 units rented. These condos lasted an average of 64 days on the market, renting for approximately $2,500 a month. We most highlighted unit #2102 that rented for $450 lesser than the asking price but lasted only 13 days in the market.