Miami Beach and Fort Lauderdale Real Estate | Residential Inventory Report for February 2018
Miami Beach Residential Highlights:
- The Average Sale Price per square foot for a Condo in Miami Beach is $539 psf.
- .92% (8%) is the average discount for a Miami Condo at 129 days on market.
- The highest grossing condo sale this year (Miami-Dade County) $13.750M or $2,723 a square foot for a condo at Continuum South.
- The Average Sale Price per square foot for a Home in Miami Beach this year is $629 psf.
- .92% (8%) is the average discount for a Miami Single Family Home at 156 days on market.
- The highest grossing SFH sale this year (Miami-Dade County) was $14.375M or $2,085 per square foot for a modern home in Coral Gables.
Fort Lauderdale Residential Highlights:
- The Average Sale Price per square foot for a Condo in Fort Lauderdale is $306 psf.
- .95% (5%) is the average discount for a Fort Lauderdale Condo at 116 days on market.
- The highest grossing condo sale so far this year was $3M or $569 per square foot for a Penthouse condo at Harborage Place.
- The Average Sale Price per square foot for a Home in Fort Lauderdale this year is $258 psf.
- .95% (5%) is the average discount for a Fort Lauderdale Single Family Home at 107 days on market.
- The highest grossing SFH sale this year was $5.332M or $659 per square foot for a home on Isla Bahia Drive in Harbor Beach.
In today’s residential market, buyers continue to have the upper-hand while sellers are forced to compete.
Here are the monthly stats for a location by location study.
South Florida Condos for Sale | Explore Motivated Sellers
In the last 30 days, the Top 10 CONDOS that Sold in Southeast Florida had a median selling price per square foot of $1,597 (DEC $1,405). It took an average of 241 days to sell, with a median sale price of $3.1M.
Today we’re in a strong buyer’s market between Miami Beach & Fort Lauderdale. There are 1,148 & 675 condos for sale over $1M while in the last 30 days, 23 & 40 sold showing us an approximate 49 and 16.8 month supply, respectively.
‘Total’ CONDOS for Sale | Median List Price Per Square Foot | Median Asking Price
- Miami Beach Condos | 2,999 Condos| $548 LP$/PSF | $480k Asking Price
- Bal Harbour Condos | 281 Condos| $923 LP$/PSF | $1.9M Asking Price
- Bay Harbour Condos | 197 Condos| $339 LP$/PSF | $500k Asking Price
- Surfside Condos | 113 Condos| $599 LP$/PSF | $890k Asking Price
- North Bay Village Condos | 210 Condos| $281 LP$/PSF | $330k Asking Price
- Sunny Isles Beach Condos | 1,438 Condos| $562 LP$/PSF | $790k Asking Price
- Aventura Condos | 1,544 Condos| $304 LP$/PSF |$432k Asking Price
- Downtown/Brickell Condos | 2,803 Condos| $469 LP$/PSF | $487k Asking Price
- Coconut Grove Condos | 61 Condos| $838 LP$/PSF | $2.199M Asking Price
- Coral Gables Condos | 226 Condos| $392 LP$/PSF | $460k Asking Price
- Key Biscayne Condos | 324 Condos| $683 LP$/PSF | $1.040M Asking Price
- Fisher Island Condos | 26 Condos| $1,560 LP$/PSF | $4.350M Asking Price
- Hallandale Beach Condos | 911 Condos| $265 LP$/PSF | $300k Asking Price
- Ft. Lauderdale Beach | 510 Condos| $481 LP$/PSF | $754k Asking Price
- Lauderdale-by-the-Sea Condos | 186 Condos| $356 LP$/PSF | $549k Asking Price
- Hillsboro Beach Condos | 108 Condos| $346 LP$/PSF | $404k Asking Price
South Florida Homes for Sale | Explore Motivated Sellers
In the last 30 days, the Top 10 HOMES that Sold had a median selling price per square foot of $996 (DEC $851). It took an average of 259 days to sell, and the median sale price was $4.991M.
Again, we’re in a buyer’s market over $1M with an approximate 30.8 month and 15.4 month supply of Miami & Fort Lauderdale homes, respectively. There were 1,725 & 417 homes with 56 & 27 sold in the last 30 days.
‘Total’ HOMES for Sale | Median List Price Per Square Foot | Median Asking Price
- Miami Beach Homes | 454 Homes| $849 LP$/PSF | $2.693M Asking Price
- Bal Harbour Homes | 16 Homes| $884 LP$/PSF | $5.063M Asking Price
- Bay Harbour Homes | 21 Homes| $740 LP$/PSF | $2.5M Asking Price
- Surfside Homes | 44 Homes| $404 LP$/PSF | $744k Asking Price
- North Bay Village Homes | 25 Homes| $347 LP$/PSF | $730k Asking Price
- Sunny Isles Homes | 47 Homes| $461 LP$/PSF | $1.450M Asking Price
- Aventura Homes | 35 Homes| $386 LP$/PSF | $979k Asking Price
- Coconut Grove Homes | 67 Homes| $512 LP$/PSF | $1.399M Asking Price
- Coral Gables Homes | 368 Homes| $482 LP$/PSF | $1.5M Asking Price
- Miami Shores Homes | 97 Homes| $338 LP$/PSF | $640k Asking Price
- Eastern Shores Homes | 41 Homes| $542 LP$/PSF | $2.2M Asking Price
- Key Biscayne Homes | 106 Homes| $954 LP$/PSF | $3.575M Asking Price
- Golden Beach Homes | 38 Homes| $1,010 LP$/PSF | $5.310M Asking Price
- Hallandale Beach Homes | 55 Homes| $311 LP$/PSF | $456k Asking Price
- Ft. Lauderdale Beach Homes | 79 Homes| $659 LP$/PSF | $2.295M Asking Price
- Lauderdale-by-the-Sea Homes | 35 Homes| $361 LP$/PSF | $750k Asking Price
- Hillsboro Beach Homes | 4 Homes| $1,924 LP$/PSF | $14.613M Asking Price
- Lighthouse Point Homes | 126 Homes| $416 LP$/PSF | $1.570M Asking Price
{Figures above derived from South Florida MLS Listing Database & below, TRENDGraphix ‘Miami-Dade Coastal Condos $1M+‘}
Average Sold Price per Square Footage in December 2017: $1089
Up 12.5% compared to last month
Up 28% compared to last year
Average Days on Market in December 2017: 227
Up 24.7% compared to last month
Up 57.6% compared to last year
December 2017 Sold/Original List Price Ratio is Falling*
Sold/Original List Price % in December 2017: 78%
Down 6% compared to last month
Down 10.3% compared to last year
Average For Sale Price (in thousand) in December 2017: $4034
Up 2.4% compared to last month
Down 3.3% compared to last year
December 2017 Average Sold Price is Appreciating*
Average Sold Price (in thousand) in December 2017: $3751
Up 22.9% compared to last month
Up 70% compared to last year
Home For Sale in December 2017: 2381 units.
Up 2.2% compared to last month
Up 4% compared to last year
Home Closed in December 2017: 44 units.
Up 10% compared to last month
Up 7.3% compared to last year
Home Placed under Contract in December 2017: 61 units.
Up 3.4% compared to last month
Up 3.4% compared to last year
Months of Inventory based on Closed Sales in December 2017: 54.1
Down 7.2% compared to last month
Down 3% compared to last year
*Buyer’s market: more than 6 months of inventory based on closed sales. Seller’s market: less than 3 months of inventory based on closed sales. Neutral market: 3 – 6 months of inventory based on closed sales.
Say Hello On
Instagram | Twitter | Facebook | YouTube
Luxury Condos, Unique Penthouses, & Waterfront Homes
16 Years Experience – I’m a South Florida real estate broker-associate with the leading firm, ONE Sotheby’s International Realty. Why Sotheby’s? Because of the brand heritage, prestige, vast global reach in curating luxury goods including premier real estate, and their propensity for perfection. Since 2002, I’ve been active in the South Florida residential & commercial markets with experience and white-glove service that rarely disappoints.
Let’s Talk today, toll-free at #888.38.DREAM or contact me here for the broker list of all new residential opportunities.
Join the monthly VIP list here for valuable market insights and new properties sent to your inbox before they go live – covering South Beach, Miami Beach, Sunny Isles Beach, Aventura, Bal Harbour, Surfside, and North Bay Village. My area of specialty also includes Key Biscayne, Coconut Grove, Coral Gables and Bay Harbour Islands, and Fort Lauderdale (East of US1). The Miami Beach Real Estate Blog is an excellent resource for South Florida real estate data, trends, and property information.
No hassle. No pressure. Just honest advice!
- MiamiDreamRealty.com
- MiamiPenthousesandEstates.com
- FortLauderdalePenthousesandEstates.com
- Coleman.Properties
- ONE Sotheby’s International Realty & Ashton Coleman
- Jade Beach, Jade Ocean & Jade Signature Condos
- Turnberry Ocean Colony Condos
- What Is My Home Worth Today?
- Marketing by Ashton Coleman
- Marketing Your Luxury Property
- ONE Sotheby’s International Realty – Marketing Affiliates
- Client Reviews
- New Miami Listings
- Sold Miami Properties
- TRENDS (2017 Q3) Report
- Sotheby’s International Realty History/Overview
- Sotheby’s – An Overview and the Auction House
- ONE Sotheby’s International Realty History/Overview
Who You Are
You are a client – not a customer:
- Clients are under the protection of another.
- Customers purchase a commodity or service.
Knowledge is protection. As a client, you can expect confidentiality but also risk assessment with fully accurate information that you will understand, implement, and use to build your net worth.
Exclusive Listings & History Sales
This post first appeared on Miami Beach & Sunny Isles Real Estate, please read the originial post: here
