With prices ranging from $150,000 to over $30,000,000, surely there must be something for everyone. Here’s a list and brief description of the most recent condos and homes to come onto the market. Let me know if yours is one of them.
Typically rare to come on the market, the One Bedroom units at Murano boast just 1008 SF, but enjoy the same benefits and amenities of the much larger units. So why are there now 4 such units on the market at once? Perhaps because there is a Special Assessment in place to renovate the 3rd floor Pool deck, and it is possible they do not wish to look at construction below them for another 18 months. It’s less likely that they did not wish to absorb the cost of that Assessment, because most residents believe that the price improvement that will be realized will far outweigh the costs to implement them. So, with units priced from $1,499,000 to $2,290,000, and located from the PH level down to the 5th floor (where 4th floor is the lowest) are they being offered at a fair market price today or do they reflect the value added that is to come with the improvement that are underway. The Penthouse and Lower Penthouse units have been dramatically renovated while the other two have not and this accounts for much of the pricing range.
Click the Link below to see all four of them:
https://portal.onehome.com/en-US/share/2477145R37217
The recently opened 5 Park is the latest addition to the local neighborhood. While it seems that new owners are moving in every day, there are also quite a number of owners who are putting their units on the market for sale. Today there are 29 such units available ranging in price from just over $1 million for a 1 bedroom, 2 bath unit with 878 SF of living area to $20 million for a lower penthouse unit with 4 bedrooms, 7 baths and 5,888 sf of living area.
My personal favorite is unit 3701, a 4 bedroom, 5 bath unit with 3,186 SF of living area.
Take a peek at all of them with the link below.
The chart below represents the last 14 months of Condo Sales in the South of Fifth neighborhood priced at over $1,000,000. In early 2023, 14 such units sold in the month of January and 8 in the month of February. This year the numbers were 12 and 6 for the same 2 months. Generally, the first 6 months performed better than the last 6 months of the year, with 68 units selling from January through June and just 37 for the remainder of the year. The Median sales price averaged about $2.3 million for the year, with a high median over $4.4 million and a low of $1.4 million.
The Median Sales price of a Condominium in the South of Fifth Neighborhood was $1,650,000, and at its highest level, for the months of October and November, 2023. That contrasted significantly with a Median price of $450,000 in the previous month of September. The Median Sales Price was over $1 million for half of the year.
Today there are about 204 units for sale in the South of Fifth neighborhood. This is how they are priced:
Under $ Million 73 Units
$1-2 Million. 39 Units
$2-4 Million. 50 Units
$5 Million plus. 42 Units
The least expensive unit is priced at $199,000, while the most expensive is priced at $47,500,000. Almost twice as many units are selling for more than $1 million than are selling for less, and the number of units selling for more than $5 million is becoming increasingly significant.
