Moving to Bal Harbour | Everything You Need to Know Before you Move to Bal Harbour
Are you moving to Bal Harbour? Then this is a must-read for you!
The Miami condo market is officially in booming mode and we are noticing increased interest in Bal Harbour’s Luxury Condos. Almost 40% of our relocation buyers mention Bal Harbour. Those looking for ultra luxury condos in a sophisticated setting often opt for Bal Harbour. We have received an abundance of requests for buyers looking at condos in Bal Harbour, specifically at Oceana and St Regis. Although Bal Harbour is pre-dominantly a condo market, it also offers single family homes.
Why Bal Harbour?
Bal Harbour is one of Miami’s best places to live. It is a small and very safe area just north of Miami Beach which many buyers prefer over the rest of the Beach, because it has less tourists, it is less busy and offers very high-end condos with large floor plans. Bal Harbour is very prestigious and although it is a small neighborhood, there are plenty of restaurants, coffeeshops and stores to visit. The ultra-luxury Bal Harbour Shops, which is a source of top-of-the-line retail and entertainment in Miami are located in Bal Harbour. How far is Bal Harbour from Miami Beach? About 7 miles. You just have to cross Surfside, which is an equally small neighborhood and then you are in Miami Beach. While South of Fifth might take you up to 30 minutes, the rest of the beach will take much less than that. Bal Harbour’s beaches are public, but less crowded than the sections on the Beach. Most of the luxury condos offer private beaches often with beach service.
Moving to Bal Harbour with a Family.
Bal Harbour is a safe place to live and offers many condos with large floor plans and service quarters. There are several schools around Bal Harbour, although most of Miami’s best private schools are on the mainland. For residents of Bal Harbour one of the best private school options are Cushman or Miami Country Day School. Bal Harbour is minutes away from Haulover Park, a 177-acre urban beachfront park with a marina.
Bal Harbour’s Most Desired Luxury Condos and their Best Lines.
Bal Harbour is Home to many luxurious and good-quality condos. Some of the most preferred condos are Oceana Bal Harbour and The St Regis Bal Harbour.
Oceana Bal Harbour
Oceana Bal Harbour offers two towers and 141 units. The flow-thru units offer east and west exposure (both with balconies), 10 ft ceilings, oversized water facing balconies and private elevator galleries that open directly into the residence. Oceana is one of Miami’s most exclusive condos, located directly on the sand and offering 5 star amenities including 24 security and concierge, pool and beach service, world-class spa and gym, tennis courts, movie theatre and a poolside café by Stephen Starr. Oceana Bal Harbour is located near the world-famous Bal Harbour Shops, known for their exclusive shops and dining facilities. The best lines here are the 01 lines in the South and the North Tower; both are large corner residences with 4,185 SF of interior space, 1,595 SF terraces, 3 bedrooms and 4.5 bathrooms. If you are looking for larger residences this condo offers many 3 bedroom residences from the 14th floor till the 26th.
St Regis Bal Harbour
St Regis is also desired for its low-density living. The condo offers 270 units over 3 towers and 26 floors. This is not just a condo with a fancy name tag. The towers are known for its solid construction and those who buy here know they are buying quality and unique features such as private elevators, large floor plans, privacy and the best service levels. The St Regis hotel tower even received a Forbes accreditation.
Bal Harbour prices vary between $1,300 and $2,200 per SF while St Regis sells for an average price of $1,635 per SF. These are high-end condo towers that offer great quality while they are also offering units that are currently very well priced and can be bought under market value. Take a look at the below graph in which we compare the average sales prices per SF of Miami’s most desired and luxurious condos. St Regis is one of the ten most exclusive condos, but offers relatively a low price per SF. The best floor plans are the 01 Lines, preferably the one in the South Tower. It’s best to be on a higher floor to clear the neighboring building. This is a large double corner residence with 3,884 SF and 3 bedrooms.
Moving to Bal Harbour? The Best Bal Harbour Real Estate Agent.
The David Siddons Group is known for their high ranking website and out-of-the-box marketing approach. Many buyers think a buyer’s agent has little to add to a transaction. Nothing is less true! I always ask: “Would you buy stocks with your inexperienced neighbor as a broker?” When it comes to buying real estate you need to choose the agent who has the most experience and the agent who knows the market and its numbers. In essence you need a market analyst who protects your wealth! We live by our motto “Help the clients make better decisions“.
The Best Miami Real Estate Agent is the One with the Most Knowledge of the Market.For a buyer it should be clear that the agent with the most knowledge and understanding of the market (analytical, economic and human), would be the one you call. You want to hire the agent who knows the market and the numbers, the agent who can make sure you do not overpay for a property and the agent who understands where we are in the real estate cycle. Knowing the real estate cycle and its previous bottom and peak prices means you can anticipate at what price point you are getting a good deal and at what price point you are buying at the peak of the market. With other words: you need a real estate market analyst!
We are also off-market specialists. Why limit yourself to listed Miami homes if we can offer you so much more. Many of our clients bought a condo that wasn’t even on the market. As a team we will go out of our way to find your dream property even if it means approaching owners of off-market properties. We have a large database of Miami home owners and we often reach out to specific off-market properties upon request of potential buyers. Moreover as top producing Miami realtors we are constantly in contact with other agents communicating which new product is coming up and as a result we know about new properties before anyone else does.
Finally we are owners of our own Condo Software Analytics Tool called Condo Geeks. Condo Geeks is a brand new and sophisticated tool, which is essentially a Bloomberg terminal for real estate. The tool empowers you to analyze entire neighborhoods, individual condos or a selection of condos. It provides users with the ability to look at the performance of a neighborhood / condo over time (amount of sales, prices per SF, discounts given and days on market) or to compare neighborhoods / condos to one another. It is essentially the best tool for consumers to see what a market is doing.
Bal Harbour Market Statistics.
We follow the Bal Harbour market and its numbers. As true market analysts we know where the numbers should be.
Sales Volume in the last 6 Months vs the Last 6 Months last year at this moment (Nov 2020- May 2021 vs Nov 2019 – May 2020)
Prices per SF in the last 6 Months vs the Last 6 Months last year at this moment (Nov 2020- May 2021 vs Nov 2019 – May 2020)
Bal Harbour Luxury Condos ($1M+) and their 15 year real estate cycle
We analyze the Miami real estate market with our Condo Geeks Software. This highly advanced tool allows us to track the performance of the entire Bal Harbour condo market or to focus on specific condos. We can see the performance of all the buildings over time and therefore we can see the previous bottom and peak of the market. Being aware of both numbers allows us to better forecast where the market is going and what prices to pay for Bal Harbour condos.
The 15 year real estate cycle for Oceana and St Regis Bal Harbour
Buying a Miami Condo with Condo Geeks – A Brand New Condo Analytics Tool By David Siddons.
If you are looking to buy a Miami condo then using our Condo Geeks tool will be of the essence (see last two screen shots). Condo Geeks is a brand new and sophisticated tool, which is essentially a Bloomberg terminal for real estate. The tool empowers you to analyze entire neighborhoods, individual condos or a selection of condos. It provides users with the ability to look at the performance of a neighborhood / condo over time (amount of sales, prices per SF, discounts given and days on market) or to compare neighborhoods / condos to one another. It is essentially the best tool for consumers to see whether a market is going up, down or remains static and to select the best performing condo. This is really the most advanced tool we could deliver and will be extremely helpful in finding the best Miami condos to invest in. Miami condo investments have never been this smart!