What is 2018 bringing to Continuum South Beach?

The 2018 Condo Forecast for Continuum South Beach

The David Siddons Group is known for his constant and up-to-date market analysis and Miami real estate market reports. We spend as much time selling real estate as we spend analyzing the different markets, identifying trends and forecasting performances, all of it with the purpose to give our audience a good overview of whatever investment, sale or purchase they are considering.

In our most recent blog we have analyzed the South of Fifth condo market in detail, looking at trends for the whole neighborhood and nailed it down to specific buildings. In this article our focus is one of the most desired condos in SoFi; Continuum South Beach. (Continuum North Tower and Continuum South Tower)

Even after the latest completion of some of the most exclusive and top priced boutique condos in the neighborhood, there is no doubt that Continuum stands as a real estate cornerstone. No other complex offers the beach resort lifestyle with full amenities and a tremendous location.

Prices and Price Changes at Continuum, South of Fifth

The 2018 Condo Forecast for Continuum South Beach

It seems that the Continuum market is picking up again after the necessary price corrections in the condo. The graph above shows you the average sales prices per SF and we can see the downward curve for both the North and South Tower since the peak of the market in 2015. For us, who carefully look at each and every sale in the building (and oftentimes know about the negotiation behind many of those) it is not just the average sales price that has dropped. Nowadays, buyers are far more conscious of market performances and not as willing to pay over market price. In 2018, the new price levels are creating a bigger pool of demand, which resulted in more activity in the condo. We see more deals happening again as the market has stabilized.

Comparing Continuum Prices with other South of Fifth Condos

The 2018 Condo Forecast for Continuum South Beach

Months of Inventory at Continuum

What is even more important is the increase in the months of inventory, which is a crucial indicator to forecast this year’s performance. Months of inventory looks at how fast the market will absorb current inventory under current market conditions.

Inflated prices as well as the new construction of exclusive condos like 321 Ocean, Glass, One Ocean, Louver House and 300 Collins, has definitely contributed to offset the sales of Continuum. However we want to add that, while the buyer in pre-construction can be sold the mystery of the unknown when buying on paper, now that everything is built and tangible in the neighborhood, the strong buildings like Continuum are likely to win the competition on several points.

What does sellers or buyers market mean?

  • A sellers market (12 or less months in the Luxury $1M+ market) means that there is more demand than supply, mostly leading to an increase in prices and providing sellers with an advantage.
  • A buyers market (8 or less months in the Luxury $1M+ market) means that there is more supply than demand. Prices are likely to decrease in order to absorb the supply.
  • A neutral market provides for a perfect balance in which neither party has an advantage and prices are likely to remain stable
The 2018 Condo Forecast for Continuum South Beach

The Continuum Condo Market in 2018

Our conclusion is that we are seeing more stability in the market again. Inventory is lower and we have noticed more movement in 2018. There has always been a large demand for condos like Continuum just not at the inflated prices we saw in the last few years. It seems that after a year of price adjustments we are seeing the buyers come in again with more confidence. The most realistic sellers are adjusting the price of their units, and that is why we keep on having a good pace of sales compared to other buildings that have had almost no sales in the last 12 months.

The 2018 Condo Forecast for Continuum South Beach
The 2018 Condo Forecast for Continuum South Beach

 Tips for Buyers at Continuum South of Fifth in 2018

Be conscious of the fact that you are buying in a unique building, which is very likely to hold its value in the long run. Therefore, be mindful of the market trends, but keep a close look at the actual sales in the building. Be mindful about the more and the less desirable lines and views and how that would affect the appreciation and the resale value. When buying an original unit put into account that a full renovation might range around the $300 per SF. When buying a well renovated unit put that into account as well. In one of the tables above we provided you with average sales prices as well as the lower and higher ranges. This table helps to navigate through the prices and to avoid you paying top dollar for a unit that needs full renovation. For a full price analysis call us for expert advise to make sure you wont overpay!

Stop and feel the breeze: being on the ocean will give you the gift of the constant breeze. Just make sure that those amazing terraces are not too windy if you are planning to actually live and enjoy the outdoor space.

 Tips for Sellers at Continuum South of Fifth in 2018

Once you decide to sell, look for as much education as possible on the recent sales as well as market trends. Do not stick with one good comparable sale if you know that the market is adjusting. Fishing the market might make you waste some precious time. Make sure to give your property the best and highest exposure, mainly on the web and social media, which is what selling real estate is all about today.  The David Siddons Group is known for their out-of-the-box marketing (Professional videos and pictures)  and knows this market like nobody else. We have a global network of top ranking realtors and clients as well as a very highly visited website and social media channels.

The David Siddons Group is a top-performing Miami real estate group with over $65M in yearly sales. David is known as a market analyst and his expert opinion has been used by the CNBC, Bloomberg, The Real Deal and Curbed Miami. Stefania Cambarau is David’s Miami Beach expert, who lives in Continuum. She is very active in the South of Fifth market and is behind some of the area’s record deals

Contact David or Stefania today

David Siddons | +1.305.508.0899 | David@siddonsgroup.com
Stefania Cambarau | +1.305.965.1232 | Stefania@siddonsgroup.com


These are the most commonly asked Google Real Estate Related questions

1. What are the Current Best New Condos in Miami?

If you want to hear in more details our opinions on the best new Miami new construction condos. Please read this article:Best New Construction Condos 2022-2023

2. What is the best New Construction Condo in Fort Lauderdale?

In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.

3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami? 

Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!


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David Siddons

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