First of all Happy Thanksgiving. I hope you will all enjoy this beautiful holiday with your family and friends. I’ve...Read More
Deals in the Portofino Yacht Club condo
Every one has his own opinion when it comes to the real estate market. Have we reached the bottom? Is there a crash coming? Are prices going down? Is the market saturated with inventory?
When we look at the sales volume at the Yacht Club at Portofino we are 18% down compared to 2018. However in terms of prices per square feet of sold units we are at flat. But this is an average and when you look in detail you will find the market is down.
For example two bayfront corner units #2612 and #2012 sold for $850,000 and $856,000 whereas these type of units were selling above $1M in 2017. That’s a great deal for the happy buyers! Also #1206 sold for $490,000 and #806 sold for $475,000 whereas no bay facing units sold for under $500,000 since 2012.
So on average the sales prices are flat but if you are looking to buy a condo in the Portofino Yacht Club you can definitely find deals nowadays. Let’s have a look at which condo can be a deal for you.
First #1007 is listed at $440,000 so even without negotiating on the price you can get an entry ticket to the best neighborhood of Miami for under half a million. If you have saved a little more then I would go for #2606 at $569,000. It is the only 1 bed facing the bay and the view is amazing. You can view the cruise ships getting to sea over the sunset on the downtown skyscrapers.
If you are looking to purchase a 2 bed condo at the Portofino Yacht Club then I would go for #2703 since it is the best priced condo with a view.
Finally the nicest condo at a reasonable price is #2202 since it is priced right under a million which is a great price for a corner unit facing the bay.