(305) 793-1365 restivomiami@gmail.com

Deering Bay – Market Analysis

July 15, 2011

P R O P E R T Y   S E A R C H

R E S T I V O – H E C H T M A N    T E A M

Deering Bay Golf and Tennis Resort consists of condos, homes and villas, built in stages beginning in the mid 1990’s.   Of the 19 currently listed condos and townhomes in Deering Bay the majority are 3 bedroom units and they range in asking price from $709,000.00 to $3,200,000.00 (the highest price unit being the penthouse in Milano #1202).

Recent sales  (within the past six months) of 3 bedroom condos in Deering Bay  SOLD  between $848,000.00 and $1,500,000.00.  That translates on paper to  an average list price per square foot of $354.00  and an average SOLD price of $352.00 a square foot. 

And here’s where that standardized analysis goes awry:  By calculating based solely on the information available in public records, the fact that  one unit  sold for $1,500,000.00 (but included furnishings, artwork, and required only that the buyers bring a toothbrush and clothing!)  isn’t information that most buyers or agents (looking through the MLS … or looking at other units in there)  might have.  But that effects any standardized ‘price per square foot’ calculation, does it not? 

Determines property value boils down to considerably more than mere statistics as to price per square foot.  And often, that price per square foot can be mis-leading.

What do you do, as a buyer, looking for information?

If you are looking for an experienced local real estate agent, we would love to help make your next move the best one yet.  Please contact the Restivo Team at EWM  any time that’s convenient for you …  Alexandra (305)  632-0164  and Vicki  (305) 793-1365.

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