2009 Miami Beach Home Sales for La Gorce Island
January 5, 2010
La Gorce Island homes are known for their scale and “wow” factor. It is a guard-gated community in Miami Beach with some of the nicest landscaped streets you will see anywhere in South Florida and with large, luxurious homes. As for real estate sales in 2009, only 3 and none of them are waterfront. There are currently 10 homes listed for sale at La Gorce Island ranging in price between $19,500,000 and $1,600,000 – which is again evidence that the high-end Luxury inventory is not moving. Six of the 10 homes currently listed are above $5 million, all except one listed for sale for quite some time.
| Address | Bds | Bths | HBth | sqft | Water | Lot Size | List Price | Sale price | $/sq.ft |
| 6675 Windsor Ln | 5 | 5 | 1 | 4,347 | N | 13,125 | $1,500,000 | $1,450,000 | 334 |
| 6640 Pinetree Ln | 4 | 4 | 1 | 3,534 | N | 12,500 | $1,475,000 | $1,312,416 | 371 |
| 6630 Sheffield Ln | 5 | 4 | 1 | 3,515 | N | 13,125 | $1,300,000 | $1,200,000 | 341 |
The good news about La Gorce is that the average price per square foot is high for homes on dry-lots (non-waterfront homes) – putting the price per square foot based on those 3 sales at $349. I’m curious to see what happens with the Mega-home inventory in Miami Beach – will it start moving in 2010? I’m sure a lot of those home owners hope so.
**UPDATE** There were no additional sales in the month of December in La Gorce Island which makes this real estate market report the FINAL one for 2009.
South Beach Condo Real Estate Market Report – SoFi Luxury Condos – first half of 2009
July 27, 2009
This Miami Beach Real Estate Market Report shows and interesting first half of 2009 for South Beach Luxury condos in the SoFi area (South of Fifth). South Beach is always defying the odds but numbers are numbers and when you compare average sales in 2008 with the first half of this year, prices have gone down…..nothing considerable, but they have.
Make sure you take a look at the 2008 South Beach Condo Real Estate Market Report – (SoFi Luxury Condos) that I completed in January to be able to see the disparities.
- The average listing price in 2008 was $1,238,498 where in 2009 it’s $1,099,077
- The average sale price in 2008 was $1,110,344 whereas it’s $973,574 in 2009 (that’s over $130,000 difference)
- The average price per square foot decreased from $651.67 to $607.12
Because I sound like a broken record at times and tell you that real estate is “local” and it doesn’t do you any good to use general numbers. I am also comparing averages in 5 different South Beach Condos that I scrutinized back in January.
- Apogee South Beach – The average price per square foot in 2008 was $1,359 and although only one sale shows on the MLS in 2009 – it’s for $1330 per square foot (not much of a drop)
- Continuum South – went from $1,072 per square foot to $1,040 (also pretty strong)
- Continuum North – from $845 to $824 per square foot (not bad)
- Icon South Beach – from $725 to $716 per square foot
- Yacht Club at Portofino – stays exactly the same (big surprise for this one, since it’s the lease desirable of all the buildings in my opinion)
- Murano Grande – goes from $626 to $604 per square foot (no remarkable change)
I am beyond curious to see what the second half of 2009 brings us – now that we are seeing a decrease in inventory and less distress sales. I just wish the calls would stop for people wanting a 3 bedroom / 2 bathroom condo in a South Beach Luxury Condo for $250,000 ….PEOPLE!!! That’s only in fantasy land!