Miami Ultra-Luxe Condo Inventory by Location
With Miami’s ultra-luxury condo inventory abundant, prices are coming down and awesome deals are being made. I’ve relayed often for the past few years, buyers are winning and will continue winning throughout next year.
Reasons Why:
- Ample new construction; speculators were told they should buy pre-construction before prices went up and make a profit on the resale. Now it’s time to deliver and with the South Florida residential market speaking volumes, the truth is revealed.
- Stronger US Dollar; International buyers wait & watch Miami patiently.
- Government Sanctions ie.) Russia & Sunny Isles Beach aka Little Moscow.
- FinCEN (now at $300k+); Gov’t agency scrutinizing all residential sales.
Here are the year-to-date sales figures on our 2018 Miami residential condo resales.
Fisher Island
$5 to $10M
- Available Units – 13
- 2018 SOLD (YTD) – 1
- Median SP$/PSF – $1,546 psf
- Average DOM – 108
- Ave. Buyer Discount – 13%
- Today’s Best Discounts.
$10M to $15M
- Available Units – 7
- 2018 SOLD (YTD) – 3
- Median SP$/PSF – $1,704 psf
- Average DOM – 498
- Ave. Buyer Discount – 16%
- Today’s Best Discounts.
$15M+
- Available Units – 4
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
Key Biscayne
$5 to $10M
- Available Units – 15
- 2018 SOLD (YTD) – 4
- Median SP$/PSF – $1,274 psf
- Average DOM – 327
- Ave. Buyer Discount – 10%
- Today’s Best Discounts.
$10M to $15M
- Available Units – 1
- 2018 SOLD (YTD) – 3
- Median SP$/PSF – $1,818 psf
- Average DOM – 74
- Ave. Buyer Discount – 21%
- Today’s Best Discounts.
$15M+
- Available Units – 1
- 2018 SOLD (YTD) – 1
- Median SP$/PSF – $1,818 psf
- Average DOM – 59
- Ave. Buyer Discount – 29%
- Today’s Best Discounts.
South Beach
$5 to $10M
- Available Units – 60
- 2018 SOLD (YTD) – 23
- Median SP$/PSF – $2,069 psf
- Average DOM – 237
- Ave. Buyer Discount – 8%
- Today’s Best Discounts.
$10M to $15M
- Available Units – 9
- 2018 SOLD (YTD) – 6
- Median SP$/PSF – $3,132 psf
- Average DOM – 307
- Ave. Buyer Discount – 14%
- Today’s Best Discounts.
$15M+
- Available Units – 7
- 2018 SOLD (YTD) – 1
- Median SP$/PSF – $3,820 psf
- Average DOM – 237
- Ave. Buyer Discount – 26%
- Today’s Best Discounts.
Miami Beach
$5 to $10M
- Available Units – 12
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
$10M to $15M
- Available Units – 0
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
$15M+
- Available Units – 1
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
Surfside
$5 to $10M
- Available Units – 19
- 2018 SOLD (YTD) – 10
- Median SP$/PSF – $1,943
- Average DOM – 214
- Ave. Buyer Discount – 6%
- Today’s Best Discounts.
$10M to $15M
- Available Units – 4
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
$15M+
- Available Units – 2
- 2018 SOLD (YTD) – 1
- Median SP$/PSF – $2,470 psf
- Average DOM – 277
- Ave. Buyer Discount – 26%
- Today’s Best Discounts.
Bal Harbour
$5 to $10M
- Available Units – 36
- 2018 SOLD (YTD) – 5
- Median SP$/PSF – $1,809 psf
- Average DOM – 235
- Ave. Buyer Discount – 8%
- Today’s Best Discounts.
$10M to $15M
- Available Units – 5
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
$15M+
- Available Units – 1
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
Sunny Isles Beach
$5 to $10M
- Available Units – 73
- 2018 SOLD (YTD) – 5
- Median SP$/PSF – $1,242 psf
- Average DOM – 166
- Ave. Buyer Discount – 14%
- Today’s Best Discounts.
$10M to $15M
- Available Units – 7
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
$15M+
- Available Units – 13
- 2018 SOLD (YTD) – 1
- Median SP$/PSF – unknown SF
- Average DOM – 7 days
- Ave. Buyer Discount – 6%
- Today’s Best Discounts.
Aventura
$5M+
- Available Units – 7
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
Edgewater/Midtown/Wynwood
$5M+
- Available Units – 6
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
Downtown Miami
$5M+
- Available Units – 4
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
Brickell & Brickell Key
$5M+
- Available Units – 24
- 2018 SOLD (YTD) – 1
- Median SP$/PSF – $934 psf
- Average DOM – 62
- Ave. Buyer Discount – 10%
- Today’s Best Discounts.
Coconut Grove
$5M+
- Available Units – 3
- 2018 SOLD (YTD) – 0
- Median SP$/PSF – n/a
- Average DOM – n/a
- Ave. Buyer Discount – n/a
- Today’s Best Discounts.
3-YEAR Miami (Areas Above) $5M+ Condo TRENDS
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This post first appeared on Miami Beach & Sunny Isles Real Estate, please read the originial post: here
