Three units hit the for sale market last September. We have one northwest corner unit #7S, and two west facing units #6N and #10M. The average asking price for these new listings is $352 per square foot. The active inventory of units for sale is 31.

Only one unit was sold last month at 5600 Collins condominium. Unit 6B was an REO (a bank-owned property) that closed as a cash transaction for $250,000. The bank offered an incentive of $7,500 towards buyer’s closing costs. A deal like this one do not last long.

This past month two units found new tenants in the condominium. These units rented for an average price per month of $2,325. One of them rented furnished while the other one rented unfurnished. They both lasted an average of 124 days in the market before renting and for much lower prices than the original price requested.

Disclaimer: We are an independently operated company, and we are not directly affiliated with the building or area mentioned above. The information herein is derived from various sources that may include, but are not limited to, public county records and the Multiple Listing Service (MLS). Please do not make decisions or assumptions based on this information without seeking professional advice.