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Miami Beach & Fort Lauderdale Residential Inventory Report | February 2019

Miami Beach & Fort Lauderdale Residential Inventory Report | February 2019

Miami Beach Residential Highlights:

Miami Beach Condos

  • YTD, 120 Miami Beach Condos have Sold.
  • The YTD Average Sale Price per square foot for a Condo in Miami Beach is  $404 psf.
  • .94% (6%) is the average discount for a Miami Condo at  134 days on market.
  • The highest grossing condo sale this year (Miami-Dade County) $21M or $2,643 psf for a Miami Beach Penthouse at L’Atelier.

Miami Beach Homes

  • YTD, 17 Miami Beach Homes have Sold.
  • The Average Sale Price per square foot for a Home in Miami Beach this year is $586 psf.
  • .91% (9%) is the average discount for a Miami Single-Family Home at  290 days on market.
  • The highest grossing SFH sale this year (Miami-Dade County) was $24.570M or $1,730 psf for a Palm Island Estate.

Fort Lauderdale Residential Highlights:

Fort Lauderdale Condos

  • YTD, 166 Fort Lauderdale Condos have Sold.
  • The YTD Average Sale Price per square foot for a Condo in Fort Lauderdale Beach is $293 psf.
  • .93% (7%) is the average discount for a Fort Lauderdale Beach Condo at  95 days on market.
  • The highest grossing condo sale so far this year was $4M or $1,169 per square foot for a 15th floor at Auberge Beach.

Fort Lauderdale Homes

  • YTD, 98 Fort Lauderdale Homes have Sold.
  • The Average Sale Price per square foot for a Home in Fort Lauderdale this year is $255 psf.
  • .95% (5%) is the average discount for a Fort Lauderdale Single Family Home at 98 days on market.
  • The highest grossing SFH sale this year was $3.860M or $594 per square foot for a modern new home on Las Olas/Seven Isles.

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 | Find Motivated Sellers

‘Total’ CONDOS for Sale | Median List Price Per Square Foot | Median Asking Price

  • Miami Beach Condos | 3,162 Condos| $527 LP$/PSF | $469k Asking Price
  • Bal Harbour Condos | 295 Condos| $853 LP$/PSF | $1.685M Asking Price
  • Bay Harbour Condos | 160 Condos| $348 LP$/PSF | $535k Asking Price
  • Surfside Condos | 133 Condos| $547 LP$/PSF | $730k Asking Price
  • North Bay Village Condos | 217 Condos| $287 LP$/PSF | $320k Asking Price
  • Sunny Isles Beach Condos | 1,650 Condos| $542 LP$/PSF | $774k Asking Price
  • Aventura Condos | 1,604 Condos| $291 LP$/PSF |$406k Asking Price
  • Downtown/Brickell Condos | 2,801 Condos| $469 LP$/PSF | $499k Asking Price
  • Coconut Grove Condos | 71 Condos| $922 LP$/PSF | $2.295M Asking Price
  • Coral Gables Condos | 220 Condos| $379 LP$/PSF | $450k Asking Price
  • Key Biscayne Condos | 293 Condos| $667 LP$/PSF | $1.149M Asking Price
  • Fisher Island Condos | 35 Condos| $1,913 LP$/PSF | $7.6M Asking Price
  • Hallandale Beach Condos | 947 Condos| $251 LP$/PSF | $290k Asking Price
  • Ft. Lauderdale Beach | 733 Condos| $435 LP$/PSF | $610k Asking Price
  • Lauderdale-by-the-Sea Condos | 131 Condos| $348 LP$/PSF | $495k Asking Price
  • Hillsboro Beach Condos | 84 Condos| $348 LP$/PSF | $427k Asking Price

South Florida Homes for Sale | Find Motivated Sellers

‘Total’ HOMES for Sale | Median List Price Per Square Foot | Median Asking Price

  • Miami Beach Homes | 467 Homes| $829LP$/PSF | $2.623M Asking Price
  • Bal Harbour Homes | 11 Homes| $1,036 LP$/PSF | $5.995M Asking Price
  • Bay Harbour Homes | 26 Homes| $674 LP$/PSF | $2.325M Asking Price
  • Surfside Homes | 57 Homes| $428 LP$/PSF | $799k Asking Price
  • North Bay Village Homes | 18 Homes| $352 LP$/PSF | $753k Asking Price
  • Sunny Isles Homes | 41 Homes| $497 LP$/PSF | $1.399M Asking Price
  • Aventura Homes | 44 Homes| $337 LP$/PSF | $824k Asking Price
  • Coconut Grove Homes | 51 Homes| $535 LP$/PSF | $1.745M Asking Price
  • Coral Gables Homes | 412 Homes| $501 LP$/PSF | $1.650M Asking Price
  • Miami Shores Homes | 122 Homes| $359 LP$/PSF | $775k Asking Price
  • Eastern Shores Homes | 38 Homes| $594 LP$/PSF | $2.550M Asking Price
  • Key Biscayne Homes | 128 Homes| $923 LP$/PSF | $3.348M Asking Price
  • Golden Beach Homes | 47 Homes| $886 LP$/PSF | $4.950M Asking Price
  • Hallandale Beach Homes | 59 Homes| $309 LP$/PSF | $480k Asking Price
  • Ft. Lauderdale Beach Homes | 126 Homes| $571 LP$/PSF | $1.823M Asking Price
  • Lauderdale-by-the-Sea Homes | 42 Homes| $383 LP$/PSF | $800k Asking Price
  • Hillsboro Beach Homes | 3 Homes| $1,967 LP$/PSF | $24.495M Asking Price
  • Lighthouse Point Homes | 137 Homes| $419 LP$/PSF | $1.199M Asking Price

 derived from South Florida MLS Listing Database

TRENDGraphix  FIVE Years of Miami-Dade Coastal Condos $1M+

Condos For Sale in January 2019: 2511 units.
Up 1.5% compared to last month
Up 5% compared to last year

Condos Closed in January 2019: 46 units.
Down 4.2% compared to last month
Down 24.6% compared to last year

Condos Placed under Contract in January 2019: 72 units.
Up 41.2% compared to last month
Down 7.7% compared to last year

Related Articles

Average For Sale Price (in thousand) in January 2019: $4016
Up 0.8% compared to last month
Down 2.5% compared to last year

January 2019 Average Sold Price is Appreciating*

Average Sold Price (in thousand) in January 2019: $3127
Up 17.4% compared to last month
Up 20.9% compared to last year

Average Sold Price per Square Footage in January 2019: $936
Up 14.6% compared to last month
Down 14.3% compared to last year

Months of Inventory based on Closed Sales in January 2019: 54.6
Up 5.8% compared to last month
Up 39.3% 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 to 6 months of inventory based on closed sales.

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This post first appeared on Miami Beach & Sunny Isles Real Estate, please read the originial post: here

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Miami Beach & Fort Lauderdale Residential Inventory Report | February 2019

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