Real Estate Market Report, June 2018.

June was an excellent month for the 360 Condominium after 3 units were successfully sold. Two of these units are located in Building B, including corner unit #611, and only one unit is in Building A. These units were sold for an average price of $270 per square foot. Unit #1422 was an REO (Bank Owned) condominium and it was sold in cash after only 59 days on the market. Unit #611, with over 1,500 square feet of living area and two parking spaces, closed for $410,000 which made this a great deal.

A total of 9 units were offered for sale at the 360 Condominium this past month. Some of these units had been listed for sale on the market before. They have an average listing price of $403,529. With these new additions, we currently have a total of 39 units for sale in our inventory between the 3 buildings. This represents less than 10% of the total number of units existing in the building.

It was an excellent month for the rental activity at the 360 Condominium, after a total of 7 units were rented out to new tenants. These units were rented for an average of $2,414 per month after they spent approximately 86 days on the market. We must highlight that unit #209 was rented for $3,100 after being on the market for only 43 days. Another unit to mention is PH19, which lasted on the market for 229 days before being rented out for $550 less than its asking price. Landlords need to do their diligence before choosing their agents. That way, their unit doesn’t remain on the market for a long time and/or end up being rented out below market price.

If you 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