Miami Luxury Real Estate Trends | A Decade In Review

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Miami Luxury Real Estate Trends | A Decade In Review

Let’s keep this study simple.

  1. Miami-Dade County’s 10-Year History
  2. All Properties $1 Million and Up
  3. From 2006 to 2016

July 2016 (Quarterly) is a Buyer’s market*

Home For Sale in July 2016 (Quarterly): 7545 units.
Up 1.5% compared to the last quarter
Up 52.8% compared to the last year

Home Closed in July 2016 (Quarterly): 181 units.
Down 15% compared to the last quarter
Down 30.9% compared to the last year

Home Placed under Contract in July 2016 (Quarterly): 170 units.
Down 28.6% compared to the last quarter
Down 37.3% compared to the last year

10 Year INVENTORY History MIAMI

July 2016 (Quarterly) Average Sold Price per Square Footage is Neutral*

Average Sold Price per Square Footage in July 2016 (Quarterly): $925
Down 5.8% compared to the last quarter
Up 9.9% compared to the last year

*Based on 6 quarter trend – Appreciating/Depreciating/NeutralMiami 10 Year History 2006-2016

July 2016 (Quarterly) Average For Sale Price is Depreciating*

Average For Sale Price (in thousand) in July 2016 (Quarterly): $2993
Down 0.6% compared to the last quarter
Down 2.6% compared to the last year

July 2016 (Quarterly) Average Sold Price is Neutral*

Average Sold Price (in thousand) in July 2016 (Quarterly): $2336
Down 7.2% compared to the last quarter
Up 14.5% compared to the last year

*Based on 6 quarter trend – Appreciating/Depreciating/Neutral10 Year History 2006-2016 Ave Price for Sale and Sold

July 2016 (Quarterly) is a Buyer’s market*

Months of Inventory based on Closed Sales in July 2016 (Quarterly): 41.7
Up 19.5% compared to the last quarter
Up 121.5% compared to the 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 sales10 Year History Miami - Months of Inventory

(All Figures Derived from Trendgraphix)

Luxury Real Estate in Southeast Florida

The Miami Beach Real Estate Blog is an awesome data source for Sunny Isles & Miami Beach real estate information. Contact me for the perfect properties along Miami BeachSunny Isles BeachAventuraBal HarbourSurfsideNorth Bay Village and South Beach. I also cover the most desirable areas of Fort LauderdaleKey BiscayneCoconut GroveCoral Gables and Bay Harbour Islands.

Over 14 Years Experience! I’m a Southeast Florida real estate broker-associate with the leading firm – ONE Sotheby’s International Realty. Why Sotheby’s? Because of the brand heritage, global reach and their propensity for perfection. Since 2002, I’ve been active in the Southeast Florida market with experience that rarely disappoints. Whether you’re looking for the latest in waterfront estates, condo resales, land for development, corporate relocation, market trends, off-market properties, new construction, bulk sales, or just plain good deals, I’ll have it customized and ready for you. Gain fast access to the latest in real estate trends, new listings, preferred developments, important news updates, sales & statistics below. Explore new listings, property information & buying options on new Miami construction and developments, gated communitieswaterfront homesluxury townhomesMiami Penthouses plus so much more.

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