Paramount Bay

Three Hundred and Thirty-Eight Homes on North Bayshore Drive

I pulled every folio the Miami-Dade County Property Appraiser holds for Paramount Bay at 2020 N Bayshore Drive. The county returns 339 folios, of which 338 are residential dwellings and one is not. Every figure here is built on the 338.

Heated area runs from 1,128 to 4,055 square feet, median 1,666 — a large-format building with no small homes at all; the smallest floorplate in the declaration is over 1,100 square feet. The plates repeat in large blocks: 59 homes at 1,128 sq ft, 37 each at 1,588 and 2,201, and 35 at 1,708.

The bed mix is unusually even across three classes: 126 one-bedroom homes (37.3%), 102 three-bedroom (30.2%), 99 two-bedroom (29.3%), ten four-bedroom and a single five-bedroom home. A building where one-bedroom and three-bedroom homes are almost equally represented is rare, and it means the median price figure carries even less information here than usual.

On the 2026 tax roll, assessed values run from $250,986 to $4,074,403, median $947,392.

Year built, storey count, architect and amenity detail are not in the county file and are not on this page.

A Dip and a Recovery, Not a Trend

The two columns appear to disagree and it is worth resolving that before reading anything into either. Median price rises across the window — $1,340,700 to $1,500,000. Rate per square foot falls, then recovers — $925 down to $844, back up to $900. Both are true. The reconciliation is size: this building spans 1,128 to 4,055 square feet with a genuinely mixed bed distribution, so the years in which larger homes traded produced higher median prices without higher rates per foot.

The rate per foot is the measure to follow, and what it describes is a dip and a partial recovery rather than a direction. 2026 sits at $900, which is below 2023’s $925 and above the $844 low. My honest reading is that this building is roughly where it was three years ago, having been softer in between.

What makes that reading unusually reliable is the volume. 70 qualified sales closed across the four years — 19, 17, 19 and 15 — with double-digit counts in every year including the incomplete one. That is the most consistent transaction record in this batch, and it means none of these annual medians is being set by one or two unusual homes. Turnover works out to one home in 19 each year. The county carries 658 qualified sales at this address across its full record.

Ninety-Four Per Cent Gained, on a Nine-Year Hold

219 of the 338 homes — 64.8% — have a completed round trip on the county record, both legs qualified and arm’s-length.

Of those 219, 206 sold for more than the previous owner paid, 11 sold for less and two closed at an identical price. That is 94.1% gaining, one of the strongest rates I have measured. The median gain across all 219 is 46.2%; among the 206 that gained, 49.0%. The range runs from -23.2% to +155.9%, and the median hold is 9.1 years.

A 46.2% median over a nine-year median hold is a genuinely good record, and the reason it deserves weight is the sample: 219 documented round trips is a large set, so this is not a handful of lucky sales. The 11 losses are contained too — the worst is -23.2%, where several buildings in this series carry single losses beyond -50%.

One pattern in the record is worth naming because it cuts against the recent numbers. The three highest prices ever paid here — $4,825,000 (10 September 2021), $4,525,000 (14 February 2012) and $4,300,000 (20 March 2015) — were all for the same 4,055 sq ft floorplate, and none of them falls inside the last four years. The top of this building has not traded recently. That is not evidence the top has weakened; it is evidence there is no recent comparable for it, which is a different and more useful thing for a buyer or seller of one of those homes to know.

Who Paramount Bay Suits, and Who It Does Not

It suits a buyer who wants space and wants to be able to sell. There are no small homes here — the smallest plate is 1,128 square feet — and 70 sales in four years with double-digit volume every year means a genuine market rather than an occasional one. Combined with 94.1% of documented resales gaining, this is one of the more reassuring records in this series.

It suits a buyer who will do the work of comparing like with like. With one-bedroom, two-bedroom and three-bedroom homes almost equally represented, the building median is close to meaningless for any individual home; the four repeating plates are where the real comparables are.

It suits badly a buyer expecting a rising market. The rate per foot at $900 is still below the $925 of 2023. Three years have produced a round trip back to roughly the starting point, not growth.

It also suits badly a buyer of one of the largest homes who wants a recent benchmark — the 4,055 sq ft plate has not set a top price since 2021.

If you are selling: your band is $866 to $900 per square foot on your own plate, and the volume is on your side — this building trades and buyers can see that it does. If you own one of the largest homes, expect the absence of a recent comparable to be used against you, and be ready to argue from the plate’s own history rather than from the building’s recent median.

Interested in selling at Paramount Bay?

Learn more about selling your condo at Paramount Bay with Josh Stein.

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Edgewater Condo & Loft Buildings

Edgewater runs along Biscayne Bay between the Venetian Causeway and the Julia Tuttle. Every building below is covered in this series, with its own county sales record:

• 1800 Biscayne Plaza
• 1800 Club
• Aria on the Bay
• Bay House
• Biscayne Beach
• Blue Condominium
• Cite on the Bay
• City 24
• Edgewater Lofts
• Elysee Miami
• Gallery Art Condominium
• Gran Paraiso
• Icon Bay
• Moon Bay
• New Wave
• One Paraiso
• Onyx on the Bay
• Opera Tower
• Paraiso Bay
• Platinum Condo
• Quantum on the Bay
• The Crimson
• The Grand Condos Miami
• Uptown Lofts