Real Estate Market Report, January 2019

One unit and one cabana successfully sold in the first month of the year at the Akoya condominium. Cab #24 sold after only 13 days on the market for the full asking price. This cabana with direct access to the beach closed as a cash transaction. #3603 sold after 936 days, which is more than three years, of being on the market. It sold for $652 per square foot as a cash transaction as well.

Homeowners got a lot of motivation to put their units on the market this first month of the year. A total of seven units hit the market for sale. These new listings have an average asking price per square foot of $742. These increased our active inventory of units for sale to 37.

Three units rented on January at Akoya. These units were all offered fully furnished and rented seasonally. The average rented price for these units is $4,717 and lasted approximately 172 days on the market.

It is a great way to start the year for the rentals at the Akoya as a total of 16 units hit the market for rent. Most of these units were offered fully furnished with an average monthly asking price of $3,536. These new listings increased our active inventory of units for rent to 48 in total.

If you have any further questions regarding this report, you may contact    
Nivaldo Soria, P.A. or Claudia Serpa, P.A.
at 305-219-8343 or nivaldosr@SouthFloridaInvestments.com