Prices Bottom at Cosmopolitan Condo in South Beach

posted on March 19th, 2012 filed under: Properties in Focus, Real Estate Market Data

Here’s another sign of a bottom in Miami Real Estate: the price per square foot of condos sold at the Cosmopolitan Condo in South Beach.

The chart below shows the sales history going back to the building’s construction in 2004.  Blue represents individual unit sales, black is the 20-sale moving average.  Prices have broken above the moving average, reversing the downtrend.

Cosmopolitan -- South Beach -- Sales History -- By Date -- with Moving Average

The Cosmopolitan is located at 110 Washington Street in the very desirable SoFi (south of Fifth Street) neighborhood of South Beach, which is one of the most desirable locations in Miami Beach.  The Cosmo is a middle-market building, with units in nearby luxury condos like Continuum and Apogee selling for much higher prices per square foot, and units in the dwindling stock of old buildings in SoFi selling for less.

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posted by // This entry was posted on Monday, March 19th, 2012 at 7:52 am and is filed under Properties in Focus, Real Estate Market Data. You can follow any responses to this entry through the RSS 2.0 feed.

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