Bal Harbour had a better month than most municipalities in the Miami area with 10 closed sales, which is down from March which had 13 sales. A year ago in April, there were only 3 closed sales. In the first four months of 2008, there were 51 residential sales in Bal Harbour that sold for an average price of $1.35 million, which was 89% of the list price and was on the market for an average of 174 days before going into contract.
There are currently 285 residential properties for sale in Bal Harbour of which 13 are single family homes. 107 are $1 million or more; 121 are between $500K and $999K with only 57 less than $500k.
Most of the positive activity is due to the sales of One Bal Harbour, a new, upscale condominium and hotel that includes The Regent Hotel. Half of last month's sales and most of March's sales were due to resales at One Bal Harbour. The location of this building is exceptional as it occupies the northeast corner of the beach before the Haulover Cut and Haulover Beach, which continues north for 2.5 miles offering unobstructed views in that direction.
For more information on Bal Harbour, Miami Beach or real estate in other cities in southeast Florida, please call me at 786.553.0697 or email me at Michael@HomesForVIPs.com. My website is www.HomesForVIPs.com. For information on distressed property or preforeclosures in the area, click on the hyperlinks.
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