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During a recent conversation with a client who is considering buying a condo at The Ocean Club, he mentioned that the Ocean Club had plenty of listings and some were selling at aggressive discounts. Although I was not surprised by his comments, I decided to update my database on the Ocean Club. Below please find a link to my most recent Market Analysis Report on the Ocean Club.

However, as a brief summary for this posting, only 6 units have been SOLD during 2008 as of March 29th. I am not considering Cabanas or Hobby rooms, just Condos.

Note that the percentage reduced is calculated from the original listing date.

For 2007 we had 31 sales excluding Cabanas and Hobby Rooms.

The Ocean Club currently has 70 properties listed for sale.

Read my complete market analysis report at: “The Ocean Club Market Analysis Report as of 30 March 2008″

If you have any questions, please send me an e-mail to: michael.schnabel@mac.com or call me at 305.450.0036

The Key Biscayne single family home market managed to booked 3 closed sales – all three in the entry level price range for single family homes – for the month of October 2007, after having zero (0) closed sales for August 2007 and September 2007 for single family homes. See the following table for a summary of these three closed sales or download a copy at: Oct07 clsd sales

For interest to some, October also managed to booked the lowest closing price for a listed single family home since August 30, 2005 at $925,000.00The following table shows a snapshot of the Key Biscayne single family home market as of November 4th, 2007. You can also download a copy at: Oct07 KB summary

The property highlighted in green is an incredible buying opportunity.472 Warren Ln. (MLS#D1193828) is a two story 4/5 on 3,775 SqFt LA.Appraised at $2,450,000 its vailable today for $2,153.024 or a 12% discount to appraised value. At 88 cents on the dollar, this is a true bargain!

RELOCATION OPPORTUNITY! Owners needs to sell quickly. Originally listed for $2,625,000.00 it has been reduced 6.67% to $2,450,000.00 or $649.01 Sq Ft well below Key Biscayne’s average of $809.00 Sq Ft for residences not on the water. With 3,775 Sq Ft (350.71 Sq Meters) of living area under air, 4 bedrooms including an in-laws quarters on the 1st floor, and 5 bathrooms including a cabana bath on the downstairs spacious back terrace, this house has it all. Just bring your tooth brush!Care to know more about Key Biscayne current market conditions, browse my Key Biscayne CMA report below. Just click on the link. If you can’t download a copy, ask me for one via e-mail at: michael.schnabel@mac.comKey Biscayne CMA