Miami Beach and Fort Lauderdale Real Estate | Residential Inventory Report for March 2018

Sunny Isles Beach Miami Coastline

Miami Beach & Fort Lauderdale Real Estate | Residential Inventory Report for March 2018

Miami Beach Residential Highlights:

Miami Beach Condos

  • The YTD Average Sale Price per square foot for a Condo in Miami Beach is ⬆ $570 psf.
  • .92% (8%) is the average discount for a Miami Condo at ⬆ 138 days on market.
  • The highest grossing condo sale this year (Miami-Dade County) $17M or $2,130 per square foot for a Sunny Isles Beach Penthouse at Mansions at Acqualina.

Miami Beach Homes

  • The Average Sale Price per square foot for a Home in Miami Beach this year is ⬇ $602 psf.
  • .92% (8%) is the average discount for a Miami Single Family Home at ⬇ 134 days on market.
  • The highest grossing SFH sale this year (Miami-Dade County) was $19.750M or $1,409 per square foot for a modern home in Coconut Grove.

Fort Lauderdale Residential Highlights:

Fort Lauderdale Condos

  • The YTD Average Sale Price per square foot for a Condo in Fort Lauderdale Beach is ⬆ $371 psf.
  • .93% (7%) is the average discount for a Fort Lauderdale Beach Condo at ⬆122 days on market.
  • The highest grossing condo sale so far this year was $5.050M or $1,175 per square foot for a Penthouse condo at L’Hermitage.

Fort Lauderdale Homes

  • The Average Sale Price per square foot for a Home in Fort Lauderdale this year is ⬆ $326 psf.
  • .95% (5%) is the average discount for a Fort Lauderdale Single Family Home at ⬇ 97 days on market.
  • The highest grossing SFH sale this year was $5.332M or $659 per square foot for a home on Isla Bahia Drive in Harbor Beach.

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 | Explore Motivated Sellers

In the last 30 days, the Top 10 CONDOS that Sold in Southeast Florida had a median selling price per square foot of $2,055 (JAN $1,597). It took an average of 350 days to sell, with a median sale price of $7.8M.

Today we’re in a strong buyer’s market between Miami Beach & Fort Lauderdale. There are 2,760⬆ & 449⬇ condos for sale over $1M while in the last 30 days, 62 & 18 sold showing us an approximate 44.5 and 24.9 month supply, respectively.

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

South Florida Homes for Sale | Explore Motivated Sellers

In the last 30 days, the Top 10 HOMES that Sold had a median selling price per square foot of $854 (JAN $996). It took an average of 124 days to sell, and the median sale price was $6.150M.

Again, we’re in a buyer’s market over $1M with an approximate 22 month and 23 month supply of Miami & Fort Lauderdale homes, respectively. There were 1,762⬆ & 442⬆ homes with 79 & 19 sold in the last 30 days.

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

⬆ derived from South Florida MLS Listing Database

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

January 2018 (Quarterly) is a Buyer’s market*

Months of Inventory based on Closed Sales in January 2018 (Quarterly): 51
Up 12.8% compared to last quarter
Down 11.8% compared to last year

MAR 2018 For Sale and Sold

January 2018 (Quarterly) Average For Sale Price is Appreciating*

Average For Sale Price (in thousand) in January 2018 (Quarterly): $3915
Up 1.1% compared to last quarter
Up 0.6% compared to last year

January 2018 (Quarterly) Average Sold Price is Appreciating*

Average Sold Price (in thousand) in January 2018 (Quarterly): $3029
Up 22.6% compared to last quarter
Up 16.5% compared to last year

MAR 2018 Days On Market and Sale Price to List Price Ratio

January 2018 (Quarterly) Average Days on Market trend is Rising*

Average Days on Market in January 2018 (Quarterly): 202
Up 4.7% compared to last quarter
Up 27% compared to last year

January 2018 (Quarterly) Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in January 2018 (Quarterly): 81%
Down 1.2% compared to last quarter
Down 3.6% compared to last year

MAR 2018 Average Price per Square Foot

January 2018 (Quarterly) Average Sold Price per Square Footage is Appreciating*

Average Sold Price per Square Footage in January 2018 (Quarterly): $1011
Up 18.7% compared to last quarter
Up 8.6% compared to last year

MAR 2018 For Sale and Sold

Home For Sale in January 2018 (End of Qtr): 2381 units.
Up 5.9% compared to last quarter
Down 1.9% compared to last year

Home Closed in January 2018 (Quarterly): 140 units.
Down 6% compared to last quarter
Up 11.1% compared to last year

Home Placed under Contract in January 2018 (Quarterly): 206 units.
Up 42.1% compared to last quarter
Up 32.9% compared to last year

*Buyer’s marketmore than 6 months of inventory based on closed sales. Seller’s marketless than 3 months of inventory based on closed sales. Neutral market: 3 – 6 months of inventory based on closed sales.

Say Hello On… Instagram | Twitter | Facebook | YouTube

Luxury CondosUnique Penthouses, & Waterfront Homes

Whether you’re seeking a stunning Miami Beach penthousethe ultimate waterfront estate, land for development, off-market & investment opportunities, new construction, bulk condo sales, or relocation assistance, I’ll have it customized and ready for you.

Over 16 Years Experience – I’m a South Florida real estate broker-associate with the leading firm, ONE Sotheby’s International RealtyWhy Sotheby’s? Because of the brand heritage, prestige, vast global reach in curating luxury goods including premier real estate, and their propensity for perfection. Since 2002, I’ve been active in the South Florida residential & commercial markets with experience and white-glove service that rarely disappoints.

Let’s Talk today, toll-free at #888.38.DREAM or contact me here for the broker list of all new residential opportunities.

Join the monthly VIP list here for valuable market insights and new properties sent to your inbox before they go live – covering South BeachMiami BeachSunny Isles BeachAventuraBal HarbourSurfside, and North Bay Village. My area of specialty also includes Key BiscayneCoconut GroveCoral Gables and Bay Harbour Islands, and Fort Lauderdale (East of US1). The Miami Beach Real Estate Blog is an excellent resource for South Florida real estate data, trends, and property information.

No hassleNo pressure. Just honest advice!

Who You Are

You are a client – not a customer:

  • Clients are under the protection of another.
  • Customers purchase a commodity or service.

Knowledge is protection. As a client, you can expect confidentiality but also risk assessment with fully accurate information that you will understand, implement, and use to build your net worth.

Exclusive Listings & History Sales

Powered by RealBird.com