Ocean Palms Condo is continuing to perform well with purchases and 10 Units were sold between the dates of October 6, 2010 – November 24, 2010. Of the 10 Units sold, all are indicated to have been Cash purchases except for one. Cash purchases continue to dominate our local Real Estate Market, particularly for Condo purchases, where Cash sales comprise 80% of all purchases.
Ocean Palms was built in 2006 and is a beautiful, DIRECT Oceanfront Luxury Condo on the Beach, located at 3101 S. Ocean Drive in Hollywood, Florida.
Condos Purchased in Ocean Palms
The purchase details are as follows:
|
Purchase Date |
Purchase Price |
Unit # |
Bedrooms & Baths |
Square Feet of Living Area |
| 11/12/10 | $1,212,500 | 2208 | 3/3.5 | 3,091 |
| 11/23/10 | $1,230,000 | 1508 | 3/3.5 | 3,091 |
| 11/10/10 | $712,500 | 1607 | 3/3.5 | 2,627 |
| 10/14/10 | $590,000 | 1702 | 3/3.5 | 2,308 |
| 11/24/10 | $660,000 | 3505 | 3/3.5 | 2,115 |
| 11/15/10 | $625,000 | 1701 | 3/3 | 2,308 |
| 10/27/10 | $605,000 | 2505 | 3/3 | 2,115 |
| 11/13/10 | $575,000 | 506 | 3/3 | 2,115 |
| 10/6/10 | $522,000 | 2203 | 2/2.5 | 1,733 |
| 11/1/10 | $485,000 | 1104 | 2/2.5 | 1,733 |
NOTE: All sales in Ocean Palms Condo are Resales. None of the Units are Developer Owned.
Price differences based on views, size, and quality
Units that are large, on high Floors, with the best views, and top of the line finishes continue to command premium prices. The “08” Line/Atlantic Model is the direct Oceanfront Model, so is THE most desired for those who want the best Ocean views. Units 2208 and 1508 sold for $1,212,500 and $1,230,000. Of the Units listed above that were purchased, the “08” line is the largest, however, it is the 2nd largest Model in the Building since the Mediterranean is the largest, with 4,114 total Square Feet.
Condos for Sale in Ocean Palms
Of 240 total Units in the Building, only 15 are currently listed for sale, so Inventory is low. Their price range is $450,000 – $1,799,000. Of the active listings, the Median price is $695,000 (I used Median instead of average since the average is affected by the $1,799,000 listing).
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Ocean Palms Foreclosures and Short Sales
Of the 10 Units that were purchased, 3 were Short Sales and none were Bank Owned Foreclosures. Of the 15 active listings, 4 are Short Sales and none are Bank Owned Foreclosures.
Pending Sales in Ocean Palms
Currently, 8 Units are listed as being under pending contract for purchase.
Location, Views, Amenities, and more!
Direct Oceanfront location on the Beach in Hollywood, FL, private Elevator entry into each Residence, spacious Balconies, Floor-to-Ceiling Windows, Ocean, Intracoastal, and/or City views, great Amenities, and close proximity to Shops, Restaurants, Golf Courses, Miami, Ft. Lauderdale, and the Hollywood-Ft. Lauderdale International Airport make Ocean Palms Condo an excellent choice to consider for Oceanfront Condos and Luxury Condos.
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