"Hot August Nights"

Neil Diamond & Florida
Picture is of the canal on one of our MI listings

It has been an eventful August so far in the Real Estate Market especially the condo market.
In the business we have all been moaning about the large condo inventory for the last 2 years. We get a lot of calls looking for large 3/2 direct ocean condos and at the present time the inventory of this type of condo is extremely limited. There is the Windrush on the 3rd floor 3/2 with new hurricane sliders priced at $329,000; I am surprised it is still available.

So far in August the following condos of interest have closed:

Palmas De Majorca, 3/2 2150 sq ft originally listed at $609,000, on the market for 2 years, closed for $400,000.

The Meridian, built in 2007, 3/2 2180 sq ft on the 3rd floor, on the market 1 year, original price $789,900, closed at $575,000.

Crescent Beach Club, 3/2 2278 sq ft on the 5th floor, on the market for 48 days listed at $499,900, closed for $425,000.

Constellation, 3/2 2419 sq ft on the 5th floor, on the market for 5 days, multiple offers, listed at $425,000 closed for $395,000.

Perlas Del Mar, this is a townhome built in 2006, the pre-construction prices of these townhomes were $299,900 with some flips in the mid 300’s. The townhome has 2350 sq ft, 2 car garage, built in vacum and upgrades everywhere. This one was a foreclosure that was listed at $175,725 and closed for $165,000, on the market for 10 days.

If you have an ocean front condo on the market, I believe the market will coming to you just be aggressive.

Thanks for your time.

Jim Bagwell