Bal Harbour
Introduction
General Overview
Bal Harbour provides quiet year-round coastal living for families. Although the village is a community with a relaxed vibe, it is close to Miami’s more lively metropolis and has its own vibrant shopping scene.
Location
Sitting between the ocean on one side and Biscayne Bay on the other, Bal Harbour is located on the northern tip of Miami Beach and is connected by a bridge to Haulover Park. It is around 40 minutes away by car from both downtown Miami and Fort Lauderdale.
The main thoroughfare passing through Bal Harbour is Collins Avenue or Florida State Highway A1A. Apart from Haulover Park, surrounding areas include Bay Harbor Islands and Surfside.
Real Estate Community in Bal Harbour
Average Land Area/House Square Feet
Condominiums have an average size of approximately 2,000 sq.ft. Single-family homes have a median size hovering at 6,000 sq.ft.
Common Property Types or House Styles
Luxe condominiums, large estates, single-family homes, and townhomes make up the village of Bal Harbour. These properties offer an oceanfront view and lush landscaping to complement the master-planned community’s charm. Only 10% of the properties in Bal Harbour are single-family homes. Condominiums feature complete amenities such as boating access, exclusive pools, and private tennis courts.
Average Market Pricing
As of 2021, Bal Harbour has a median listing home price of $1.2 million and a median sold home price of $1.7 million. Prices of Bal Harbour homes for sale range from upwards of $2 million and can reach over $30 million. The median list price of single-family homes is $4.99 million. Waterfront condos for sale in Bal Harbour cost anywhere from the $300,000 range to more than $20 million. The median list price of condos is just over $2 million.
Common Design, Construction, or Architectural Types
Condominiums overlooking the ocean have contemporary designs. Many single-family homes were constructed in the 1950s until the 1980s but most have already undergone renovations to include modern amenities and features. These homes vary in architectural styles. The common theme, however, is beautifully landscaped exteriors with tropical foliage and palm trees.
Notable Homeowners
Throughout the years, Bal Harbour has been a prime residential area for prominent personalities, from Hollywood bigwigs to various heads of state.
The CEO of Carnival Cruise and owner of Miami Heat, Micky Arison, also owns a property in the village. Capt. Martin Bayerle of History Channel’s Billion Dollar Wreck is also one of the names included in Bal Harbour’s roster of celebrity homeowners.
Edith Bouvier Beale, the socialite, fashion model, and cousin of Jacqueline Onassis, spent her last years in Bal Harbour as well.
Living in Bal Harbour
General Cost of Living
Bal Harbour has a cost of living index of 162 or over 60% more than the US average. Housing is the main factor that contributes to the high cost of living in the village. Transportation and groceries come in second and third as the main drivers of the high cost of living in the area.
Weather
January, February, and December are the most pleasant months in terms of weather. Meanwhile, weather in August and July is the least favorable. Temperatures range from 62°F to 89.9°F.
Employment/Job Opportunities
Average household income in Bal Harbour is $64,843. The most prominent industries in the area are accommodation and food services, retail, real estate, and rental and leasing.
Restaurants
Bal Harbour Shops is home to a large selection of dining options, from fine dining restaurants to outdoor cafes and bistros. Menu options include Italian, French, Japanese, and American cuisines. Restaurants include Carpaccio, Makoto, Hillstone at Bal Harbour, and Le Zoo.
Schools
There are several schools serving Bal Harbour. Some of these educational institutions are School for Advanced Studies, MAST Academy, Miami Beach Senior High School, Ruth K. Broad/Bay Harbor K-8 Center, Biscayne Beach Elementary School, Riviera Preparatory School, Blessed Trinity Catholic School, St. Lawrence Elementary School, Holy Family Catholic School, and St Patrick's School.
Transportation
Most people drive their own vehicles. The village also has access to several marinas, including the private Bal Harbour Marina and the Bill Bird Marina at Haulover Park.
Parks, Recreational Activities, and Attractions
Shopping is one of the main attractions in Bal Harbour. Bal Harbour Shops, a world renowned al fresco shopping mall carries a long list of designer brands for avid shoppers. Some of these brands are Ralph Lauren, Prada, Chanel, Giorgio Armani, Dolce & Gabbana, and Alexander McQueen.
Enjoy a seaside escape all year-round by living in Bal Harbour. If you are interested in purchasing a residential property in Bal Harbour, get in touch with The Jills Zeder Group at 305.722.5721 or 305.341.7447 to get started.