Real Estate Market Report, November 2018.

Only one unit sold this past November at Akoya condominium. Corner unit #2701 with 3 beds, 2 1/2 baths and 1,761 square foot of living area sold for $937 per square foot. This unit lasted 125 days on the market and sold for $199,000 less than original asking price. We must highlight that this unit was recently remodeled. Now, the active inventory of units for sale is at 34.

One unit and one cabana were offered for sale last month. Cabana 02 was offered for $225,900. This cabana doesn’t have direct access to the ocean. Unit #1903 is being offered for $1,650,000, and this owner is also selling the cabana #24 for an additional $235K.

As the winter begun, we can observe how much South Florida has appreciated at this time of the year. A total of 10 units got rented in November. These units rented for an average price of $3,250 a month. Most of these units rented seasonally and fully furnished.

A total of six units were listed for rent in November. Except for unit #4009, all of them were offered fully furnished. As we get close to the end of the year, the inventory is up to 36. However, most of these units are already rented.

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