Miami and Fort Lauderdale Real Estate Inventory Report | June 2017

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Miami and Fort Lauderdale Real Estate Inventory Report | June 2017

In today’s market, buyers have the clear upper-hand while sellers are forced to compete. Here are the prior month stats on a location by location study.

South Florida Condos for Sale | Motivated Sellers

In the last 30 days, the Top 10 CONDOS Sold totaled $42M (APR $60M) with a median selling price per square foot of $1,448 (APR $1,614). It took an average of 160 days to sell, with a median sale price of $3.297M.

Today we’re in a strong buyer’s market between Miami & Fort Lauderdale. There were 2,632 & 456 condos for sale over $1M with 64 & 23 sold in the last 30 days showing us an approximate 41 and 20 month supply, respectively.

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

Miami Homes for Sale | Motivated Sellers

In the last 30 days, the Top 10 HOMES that Sold totaled $56.8M (APR $115M) with a median selling price per square foot of $826 (APR $859). It took an average of 201 days to sell, and the median sale price was $5.143M.

Again, we’re in a buyer’s market over $1M with an approximate 19 month and 20 month supply of Miami & Fort Lauderdale homes, respectively. There were 1748 & 1003 homes with 92 & 49 sold in the last 30 days.

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

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

Home For Sale in May 2017: 1955 units.
Down 1% compared to the last month
Up 4.5% compared to the last year

Home Closed in May 2017: 45 units.
Down 10% compared to the last month
Down 8.2% compared to the last year

Home Placed under Contract in May 2017: 58 units.
Down 1.7% compared to the last month
Up 26.1% compared to the last year

Miami Condo INVENTORY JUN 2017

Average Days on Market in May 2017: 167
Down 12.6% compared to the last month
Up 19.3% compared to the last year

May 2017 Sold/Original List Price Ratio is Rising*

Sold/Original List Price % in May 2017: 86%
Up 4.9% compared to the last month
Up 1.2% compared to the last year

Miami Condo INVENTORY SP-LP RATIO JUN 2017

Average Sold Price per Square Footage in May 2017: $1227
Up 43.2% compared to the last month
Up 14% compared to the last year

Miami Condo INVENTORY PPSF SOLD RATIO JUN 2017*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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