Is it time to buy a Luxury Oceanfront Condo in South Florida?

Coastal Views of Oceanfront Condos

The economy and housing situation has been very well documented in all forms of the media. However, Many people see this as a time of opportunity, especially in the luxury oceanfront condo market.

In the luxury oceanfront condo market in a first class building, there have been some incredible opportunities. We recently worked with a buyer at the Diplomat in Hollywood and were able to negotiate an oceanfront condo at an incredible price. This was a high floor direct ocean views. Regardless of what the market does over the next few months, this was a great deal.

There are some very shrewd buyers out there taking advantage of spectacular opportunities.

At this point in time, I wanted to take a look at pending contracts in south Florida in Miami, Bal Harbour, Sunny Isles, Hollywood, Hallandale, and Fort Lauderdale. There are 55 luxury oceanfront condos listed above $1million under contract. There are buyer’s out there seizing the moment…….

Here is a list of oceanfront condo’s over $1million under contract as of today, July 30, 2008:

Luxury Oceanfront Condo Asking Price
W SOUTH BEACH 9,000,000
COCONUT GROVE RESID 6,200,000
ONE BAL HARBOUR 5,995,000
ONE BAL HARBOUR 5,995,000
Palazzo Del Mare 4,950,000
Continuum on South Beach 4,750,000
COCONUT GROVE RESID 3,800,000
Continuum on South Beach 2,950,000
TURNBERRY OCEAN COLONY 2,850,000
ONE BAL HARBOUR 2,699,000
continuum 2,598,336
ONE BAL HARBOUR 2,475,000
Villas of Positano 2,395,000
The Bath Club 2,375,000
W SOUTH BEACH 2,099,900
VILLAS OF POSITANO 1,999,999
ACQUALINA 1,980,000
Solimar 1,950,000
AZURE CONDOMINIUM 1,900,000
MOSAIC ON MIAMI BEACH 1,799,999
OCEAN FOUR 1,799,000
ACQUALINA 1,775,000
TRUMP PALACE 1,750,000
ONE BAL HARBOUR-FINISHED 1,750,000
Aquazul 1,650,000
Canyon Ranch Living 1,595,000
OCEAN TWO 1,575,000
OCEAN FOUR 1,559,000
COCONUT GROVE RESID 1,500,000
ocean place 1,495,000
OCEAN FOUR CONDO 1,495,000
TURNBERRY OCEAN COLONY 1,495,000
IL VILLAGGIO 1,455,000
OCEAN TWO 1,450,000
ACQUALINA marmol 1,440,000
TRUMP PALACE 1,425,000
Murano 1,399,000
Las Olas River House 1,395,000
SAYAN 1,349,000
ONE BAL HARBOUR 1,299,000
CANYON RANCH LIVING 1,299,000
OCEAN III THREE 1,290,000
DIPLOMAT OCEAN RESID 1,289,000
REGENT ONE BAL HARBOUR 1,250,000
POINT OF AMERICAS 1,195,000
Ocean Palms 1,149,900
CASA DEL MAR 1,149,000
OCEANIA III CONDO 1,100,000
Trump Palace 1,100,000
BALMORAL CONDO 1,100,000
Diplomat Residences 1,099,000
BEACH CLUB I 1,099,000
KEY COLONY II 1,095,000
GREEN DIAMOND 1,050,000
PINNACLE 1,049,000

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