Miami and Fort Lauderdale Real Estate Inventory Report | January 2017

Trump Royale TS6 Sunny Isles Beach

Miami and Fort Lauderdale Real Estate Inventory Report | December 2016

In today’s market, buyers have the clear upper-hand while sellers are forced to compete.

Here we are for the month on a location by location study.

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

In the last 30 days, the Top 10 CONDOS Sold totaled $36M (last month $47M) with a median selling price per square foot of $956 (last month $1,101). It took an average of 112 days to sell, with a median sale price of $2.6M.

Today we’re in a strong buyer’s market between Miami & Fort Lauderdale. There were 2,563 & 448 condos for sale over $1M with 28 & 12 sold in the last 30 days showing us an approximate 91.5 and 37 month supply, respectively.

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

In the last 30 days, the Top 10 HOMES that Sold totaled $43.1M (last month $49M) with a median selling price per square foot of $853 (last month $992). It took an average of 171 days to sell, and the median sale price was $4.480M.

Again, we’re in a buyer’s market over $1M with an approximate 56 month and 23 month supply of Miami & Fort Lauderdale homes, respectively. There were 1351 & 768 homes with 24 & 33 sold in the last 30 days.

  • Miami Beach Homes | 427 Homes| $838 LP$/PSF | $2.7M Asking Price
  • Bal Harbour Homes | 16 Homes| $930 LP$/PSF | $5.2M Asking Price
  • Bay Harbour Homes | 20 Homes| $644 LP$/PSF | $2.749M Asking Price
  • Surfside Homes | 48 Homes| $439 LP$/PSF | $797K Asking Price
  • North Bay Village Homes | 18 Homes| $332 LP$/PSF | $788K Asking Price
  • Sunny Isles Homes | 45 Homes| $529 LP$/PSF | $1.6M Asking Price
  • Aventura Homes | 38 Homes| $413 LP$/PSF | $975K Asking Price
  • Coconut Grove Homes | 72 Homes| $520 LP$/PSF | $2.1M Asking Price
  • Coral Gables Homes | 365 Homes| $458 LP$/PSF | $1.4M Asking Price
  • Miami Shores Homes | 116 Homes| $319 LP$/PSF | $650K Asking Price
  • Eastern Shores Homes | 2 Homes| $524 LP$/PSF | $1.792M Asking Price
  • Key Biscayne Homes | 106 Homes| $994 LP$/PSF | $3.493M Asking Price
  • Hallandale Beach Homes | 64 Homes| $375 LP$/PSF | $900K Asking Price
  • Golden Beach Homes | 46 Homes| $928 LP$/PSF | $4.375M Asking Price
  • Ft. Lauderdale Beach Homes | 214 Homes| $632 LP$/PSF | $2.710M Asking Price
  • Lauderdale-by-the-Sea Homes | 25 Homes| $392 LP$/PSF | $829K Asking Price
  • Hillsboro Beach Homes | 4 Homes| $1760 LP$/PSF | $16.850M Asking Price
  • Lighthouse Point Homes | 154 Homes| $414 LP$/PSF | $1.162M Asking Price

{Figures derived above from South Florida MLS Listing Database & below, TRENDGraphix ‘Miami Coastal Condos $1M+’}

Average Sold Price per Square Footage in December 2016: $843
Down 23.2% compared to the last month
Down 17.7% compared to the last year

JAN 2017 Ave PPSF TRENDS

Home For Sale in December 2016: 1763 units.
Up 1% compared to the last month
Up 19.6% compared to the last year

Home Closed in December 2016: 24 units.
Down 27.3% compared to the last month
Down 48.9% compared to the last year

Home Placed under Contract in December 2016: 34 units.
Up 47.8% compared to the last month
Down 33.3% compared to the last year

JAN 2017 FSS

Months of Inventory based on Closed Sales in December 2016: 73.5
Up 38.9% compared to the last month
Up 134.2% compared to the last year

JAN 2017 MOI

*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

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