In Miami Beach's highly coveted South of Fifth Neighborhood, The Continuum Miami Beach condos continue to see impressive sales records. This type of waterfront condo sales momentum has not been seen since the market heights of 2006! In my opinion, and judging by my own team's very active first half of the year, this is due to the following reasons:
1. Most Miami Beach waterfront condo buyers are usually seeking a second or even third vacation home. These tend to be very affluent owners / buyers and are usually willing to purchase all cash.
2. Miami Beach condos, especially in the premier areas such as South of Fifth Street in South Beach, are unique. There will be almost NO further waterfront condo development in South Beach given the scarcity of land and Miami Beach's strict developement regulations / restrictions. This puts a permanent bottleneck on future supply & represents a strong upside for future real estate market appreciation.
3. Miami Beach attracts an international clientele / market that's less influenced by short term financial trends. Affluent USA Northeast second homeowners, Brazilians, Colombian, Russian, and general South American's are the majority of today's luxury condo Buyers in South of Fifth Street waterfront luxury buildings - such as The Continuum, Apogee, The Murano at Portofino, The Portofino Tower, The South Pointe Tower, Icon South Beach, and The Murano Grande.
4. All of the above cited South of Fifth waterfront condo buildings are impeccably maintained, architecturally unique, and provide residents with the latest modern luxury amenities. Most especially, The Continuum on South Beach offers twelve incredible oceanfront acres at the Southernmost tip of Miami Beach. This is as the equivalent of living at an Oceanfront resort, with features and a location that CANNOT be reproduced.
Below are the seven days CLOSED sales of Continuum Condos. Note that North Tower #2502 is a raw or "Decorator Ready" condominium, which sold for an incredible $1,469 per Square Foot of living space!
Continuum Miami Beach Condos- Last Seven Days Closed Sales
Closing Date ADDRESS Miami Beach Condo Building List Price Living Area LP$/SqFt Sold Price 6/27/2011 50 S POINTE DR # 1906 CONTINUUM ON SOUTH BEACH $ 2,005,000 1,698 $ 1,181 $ 1,700,000 6/27/2011 50 S POINTE DR # 2502 CONTINUUM ON SOUTH BEACH $ 4,431,000 3,017 $ 1,469 $ 3,850,000 6/22/2011 50 S POINTE DR # 511 Continuum North Tower $ 699,000 640 $ 1,092 $ 675,000 6/27/2011 50 S POINTE DR # 2802 CONTINUUM NORTH TOWER $ 3,999,999 2,621 $ 1,526 $ 3,836,000
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