Ritz Carlton Bal Harbour vs. ONE Bal Harbour – No Rhyme or Reason?

Ritz Carlton Bal Harbour vs. ONE Bal Harbour – No Rhyme or Reason?

Savvy investors are watching the all new Ritz Carlton Bal Harbour very closely as it takes control of management for what was once known as ONE Bal Harbour. In researching the values for a friend, we find they are skewed with this new transition and yet speculative that very soon they may reach $1,500 plus per square foot. Today’s sellers have more confidence than ever in future values based on the strength of the brand known as Ritz-Carlton. Is there any rhyme or reason to today’s values? Where will these values be in a year from now after Ritz-Carlton shows how management is done correctly? Only time will tell but until then, select inventory is available under $1,500 per square foot.

ONE Bal Harbour Resale Overview | 5-Year Snapshot:

2014 (Year to Date) – 18 Sold – Median Sale Price $2.750M – Median SP$/PSF $1,185 – Ave Buyer Discount 7% (41% Appreciation YTD)
2013 – 12 Sold – Median Sale Price $1.187M – Median SP$/PSF $694 – Ave Buyer Discount 9% (14% Depreciation YTD)
2012 – 24 Sold – Median Sale Price $1.788M – Median SP$/PSF $803 – Ave Buyer Discount 11% (7% Appreciation YTD)
2011 – 39 Sold – Median Sale Price $1.130M – Median SP$/PSF $747 – Ave Buyer Discount 15% (18% Appreciation Year to Date|YTD)
2010 – 16 Sold – Median Sale Price $1.650M – Median SP$/PSF $611 – Ave Buyer Discount 15%

ONE Bal Harbour Condo Sales | Hotel vs. Residential Side:

4-Year Snapshot (Hotel Side 10 through 17 line):

• 2014 (Year to Date) – 6 Sold – Median Sale Price $850k – Median SP$/PSF $741 – Ave. Buyer Discount 2%
• 2013 – 5 Sold – Median Sale Price $780k – Median SP$/PSF $608 – Ave. Buyer Discount 16%
• 2012 – 7 Sold – Median Sale Price $315k – Median SP$/PSF $616 – Ave. Buyer Discount 15%
• 2011 – 10 Sold – Median Sale Price $638k – Median SP$/PSF $694 – Ave. Buyer Discount 10%

4-Year Snapshot (Residential Side 01-09 line):

• 2014 (Year to Date) – 11 Sold – Median Sale Price $3.463M – Median SP$/PSF $1,365 – Ave. Buyer Discount 8%
• 2013 – 5 Sold – Median Sale Price $1.975M – Median SP$/PSF $889 – Ave. Buyer Discount 6%
• 2012 – 12 Sold – Median Sale Price $2.150M – Median SP$/PSF $981 – Ave. Buyer Discount 8%
• 2011 – 17 Sold – Median Sale Price $2.250M – Median SP$/PSF $876 – Ave. Buyer Discount 9%