2014 condo sales at Marquis Residences in Downtown Miami were off the charts! According to the statistics retrieved from the Multiple Listing Service (MLS) on January 9, 2015, the median sales price and median sales price per square of foot of Marquis condos skyrocketed in comparison to the sales in 2013.
In analyzing the Miami real estate market, it is imperative to analyze the numbers based on a year-over-year comparison. As I analyzed Marquis’ year-over-year comparison from 2014 to 2013, I noticed that the median sales price jumped $400,000. Not only did I see this huge increase, but I also found a tremendous increase in the median sales price per square foot, which exploded by $117.40 which equals an increase of 24.9%! These numbers are astounding and just further prove that Marquis Residences is a safe investment in Downtown Miami. Furthermore, Marquis Residences had ZERO foreclosures and/or short sales in all of 2013 AND 2014. No distressed sales + HUGE increases in value = Extraordinary Building!
2014 vs. 2013 Marquis Residences Sales Year-Over-Year Numbers:
- Total Number of Sales: ⇓ 12 Sales
- Average Sales Price: + $147,613
- Median Sales Price: + $400,000
- Average Sales Price Per SQ/FT: + $83.77 (+17.1%)
- Median Sales Price Per SQ/FT: + $117.40 (+24.9%)
2014 Marquis Residences Sales by the Numbers:
- Total Number of Sales: 21
- Average Sales Price: $1,179,881
- Median Sales Price: $1,150,000
- Average Sales Price Per SQ/FT: $573.11
- Median Sales Price Per SQ/FT: $588.79
- Highest Priced Sale of 2014: Unit 3106/07 (Combination) Closed on 07/18/2014 @ $2,600,000 ($688.56 per sq/ft)
- Lowest Priced Sale of 2014: Unit 1603 Closed on 10/21/2014 @ $697,500 ($423.50 per sq/ft)
2013 Marquis Residences Sales by the Numbers:
- Total Number of Sales: 33
- Average Sales Price: $1,032,268
- Median Sales Price: $750,000
- Average Sales Price Per SQ/FT: $489.34
- Median Sales Price Per SQ/FT: $471.39
- Highest Priced Sale of 2013: Unit 6101 (Penthouse) Closed on 12/20/2013 @ $2,675,000 ($717.35 per sq/ft)
- Lowest Priced Sale of 2013: Unit 1506 Closed on 05/10/2013 @ $470,000 ($285.37 per sq/ft)
If you, or someone you know, would like more information on Marquis Residences or any other condos in Downtown Miami, please contact me, Michael Light of Miami Luxury Homes. I have direct knowledge of the Downtown Miami condo market and have sold and rented many condo units at Marquis Residences. You may reach me directly at my office at 305-350-9842, on my cell phone at 786-566-1700 or via email at michael@miamiluxuryhomes.com.