Real Estate Market Report, March 2019

Two units were sold this past March at The Collins condominium. Both of these units are located on line 11, offering direct pool and ocean views. They both closed for a median asking  price per SqFt of $553 and lasted an average of 83 days in the market. Penthouse #11 sold through financing for $425,000 while unit #511 sold cash for $480,000. This clearly illustrates that choosing the right listing agent matters. 

Three units hit the For Sale market at The Collins condominium this past March. These new listings have an average asking price per SqFt of $518. Unit #424 has the lowest asking price in the building, making it very attractive to prospective buyers, the reason why this unit is already under contract. We also have unit #402 a two bedroom, 2 bathroom with direct unobstructed views to the Atlantic Ocean offered at $790,000.

Two fully furnished units hit the For Rent market last month. Unit L-103 located right on the pool deck is offered for $2,500. We must state that these units are not very common to hit the market.

Two units were successfully rented last month. These condos rented for a median monthly price of $3,000. #407 was offered furnished and took more than a year to be rented for $300 less than original asking price. #811 was offered unfurnished and rented after only 56 days for full asking price. Pricing your unit correctly is extremely important, that will defined how long your unit will be on the market. Your agent should have extensive knowledge on the building’s market, so he/she can help you choose the correct listing price.