Real Estate Market Report, February 2018.

Only one unit sold last month at The Collins Condominium. Unit #704 an REO (Bank Owners) sold after only 60 days of being in the market for $315,000 through conventional financing. Deals like this one do not last long in the market.

A total of three units became active for sale last month. Corner unit PH02 with two bedrooms and two bathrooms listed at $895 per square foot, much higher than the average price for the building. Another unit to highlight is #909, with one bedroom plus a den and 943 square feet of living area, this unit listed for $507,000. With direct ocean views, this condo is already under contract. 

Last month was an excellent month for rentals, as a total of three units found new tenants. These one bedroom condos rented for an average monthly price of $1,983 after approximately 122 days on the market. Most of them were offered completely furnished.

Only one unit was offered for rent in February at The Collins. Unit #807, fully remodeled and tastefully furnished, is offered either seasonally or annually. The active inventory of units for rent in the building is now at 17 in total.