Months of Inventory by South Florida Locations | Miami & Fort Lauderdale Condos

Months of Inventory by South Florida Locations | Miami & Fort Lauderdale CONDOS

South Florida Residential InventoryIn order to have a general idea on the amount of inventory available today, we simply take the last 30-day sales and divide into the total number of condos. For this research, I am taking the areas listed below and only looking at sales above $1M.

  • South Beach (1st through 25th Street) | 385 condos for sale / 11 sold in last 30 days or 35 Months {162 Sold or 26 Month Supply}
  • Mid-Beach (25th through 63rd) | 146 condos for sale / 4 sold in last 30 days or 36.5 Months {96 Sold or 17 Month Supply}
  • North Beach #NoBe (63rd through 87th) | 67 condos for sale / 1 sold in last 30 days or 67 Months {20 Sold or 37 Month Supply}
  • Surfside (87th through 94th) | 68 condos for sale / 0 sold in last 30 days or n/a {6 Sold or 126 Month Supply}
  • Bal Harbour (95th through 102nd) | 131 condos for sale / 3 sold in last 30 days or 43.6 Months {48 Sold or 30 Month Supply}
  • Bay Harbour Islands | 15 condos for sale / 0 sold in last 30 days or n/a {7 Sold or 25 Month Supply}
  • Sunny Isles Beach (150th through 195th) | 423 condos for sale / 7 sold in last 30 days or 60.4 Months {156 Sold or 30 Month Supply}
  • North Bay Village (Island off Miami Beach at 71st Street and Miami mainland at 79th) | 2 condos for sale / 0 sold in last 30 days or n/a
  • Fisher Island | 78 condos for sale / 1 sold in last 30 days or 78 Months {16 Sold or 56 Month Supply}
  • Key Biscayne | 117 condos for sale / 8 sold in last 30 days or 14.6 Months {99 Sold or 13 Month Supply}
  • Coral Gables | 28 condos for sale / 0 sold in last 30 days or n/a {20 Sold or 16 Month Supply}
  • Coconut Grove | 23 condos for sale / 2 sold in last 30 days or 11.5 Months {20 Sold or 13 Month Supply}
  • Aventura | 191 condos for sale / 8 sold in last 30 days or 23.9 Months {80 Sold or 27 Month Supply}
  • Hollywood | 72 condos for sale / 4 sold in last 30 days or 18 Months {48 Sold or 16.7 Month Supply}
  • Fort Lauderdale (Beaches) | 121 condos for sale / 5 sold in last 30 days or 24 Months {76 Sold or 17 Month Supply}

Wow, friends…

A lot of inventory! Assuming a “healthy” market is 6 months or less, I’ll reconfirm buyers have the advantage & leverage.

Considering averages, let’s take this research further and look at total sales over $1M from JAN 1st to NOV 30th 2015 then dividing by 11 months to look at an average monthly sales figure. It’s quite possible to have fluctuations with Holiday and seasonal shifts so this will help us determine how ‘real’ these figures are in 2015. I’ll indicate the 2015 Sold figures and Inventory {within brackets above}.

For further insights on your property, simply contact me to look at the finite details specific to your property. If you would like to discuss general Miami and Fort Lauderdale real estate, please contact my office toll-free at 888.38.DREAM or send me a note here. I’m a Miami area real estate broker-associate. Since 2002, I’ve marketed, sold & serviced Sunny Isles Beach to South Beach along with Aventura to Coral Gables. Whether you’re looking for the latest in new developments, off-market properties, condo resales, market trends, South Beach lofts or lofts for sale in Miami, I have it all for your convenience. Review new listings, property information & buying options on new Miami construction, the premier gated communitieswaterfront homesluxury townhomes, Miami Penthouses plus much more. Gain access to the latest in the news, listings, trends, sales & statistics by signing up to the Monthly e-Newsletter to the right.

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