Miami Beach & Fort Lauderdale Real Estate | Residential Inventory Report for July 2018
Miami Beach Residential Highlights:
Miami Beach Condos
- YTD, 986 Miami Beach Condos have Sold.
- The YTD Average Sale Price per square foot for a Condo in Miami Beach is ⬇ $555 psf.
- .93% (7%) is the average discount for a Miami Condo at ⬇ 135 days on market.
- The highest grossing condo sale this year (Miami-Dade County) $26M or $3,820 psf for a South Beach Penthouse at 321 Ocean.
Miami Beach Homes
- YTD, 116 Miami Beach Homes have Sold.
- The Average Sale Price per square foot for a Home in Miami Beach this year is ⬇ $692 psf.
- .91% (9%) is the average discount for a Miami Single Family Home at ⬇ 157 days on market.
- The highest grossing SFH sale this year (Miami-Dade County) was $33M or $1,941 psf for Thomas Kramer’s Star Island estate.
Fort Lauderdale Residential Highlights:
Fort Lauderdale Condos
- YTD, 1081 Fort Lauderdale Condos have Sold.
- The YTD Average Sale Price per square foot for a Condo in Fort Lauderdale Beach is ⬆ $315 psf.
- .95% (5%) is the average discount for a Fort Lauderdale Beach Condo at ⬇ 96 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
- YTD, 1016 Fort Lauderdale Homes have Sold.
- The Average Sale Price per square foot for a Home in Fort Lauderdale this year is ⬆ $289 psf.
- .95% (5%) is the average discount for a Fort Lauderdale Single Family Home at ⬇ 82 days on market.
- The highest grossing SFH sale this year was $6.9M or $1,064 per square foot for a modern new home on Rio Vista Isles.
In today’s residential market, buyers continue to have the upper-hand while sellers are forced to compete.
South Florida Condos for Sale | Find Motivated Sellers
In the last 30 days, the Top 10 CONDOS that Sold in Southeast Florida had a median selling price of ⬇ $1,357 per square foot. It took an average of ⬇ 178 days to sell, with a median sale price of $5.815M. Today we’re in a strong buyer’s market in Miami Beach & a neutral market in Fort Lauderdale. There are ⬇661 & ⬇209 condos for sale over $1M while in the last 30 days, 29 & 40 sold showing us an approximate 22 and 5 month supply, respectively.
Here are the monthly stats for a location by location study.
‘Total’ CONDOS for Sale | Median List Price Per Square Foot | Median Asking Price
- Miami Beach Condos | 2,733 Condos| $533 LP$/PSF | $475k Asking Price
- Bal Harbour Condos | 253 Condos| $909 LP$/PSF | $1.840M Asking Price
- Bay Harbour Condos | 177 Condos| $313 LP$/PSF | $439k Asking Price
- Surfside Condos | 120 Condos| $569 LP$/PSF | $783k Asking Price
- North Bay Village Condos | 206 Condos| $280 LP$/PSF | $333k Asking Price
- Sunny Isles Beach Condos | 1,490 Condos| $568 LP$/PSF | $809k Asking Price
- Aventura Condos | 1,522 Condos| $300 LP$/PSF |$415k Asking Price
- Downtown/Brickell Condos | 2,799 Condos| $472 LP$/PSF | $497k Asking Price
- Coconut Grove Condos | 56 Condos| $808 LP$/PSF | $1.798M Asking Price
- Coral Gables Condos | 218 Condos| $393 LP$/PSF | $456k Asking Price
- Key Biscayne Condos | 270 Condos| $668 LP$/PSF | $1.052M Asking Price
- Fisher Island Condos | 35 Condos| $1,732 LP$/PSF | $5M Asking Price
- Hallandale Beach Condos | 849 Condos| $262 LP$/PSF | $305k Asking Price
- Ft. Lauderdale Beach | 521 Condos| $438 LP$/PSF | $618k Asking Price
- Lauderdale-by-the-Sea Condos | 129 Condos| $346 LP$/PSF | $488k Asking Price
- Hillsboro Beach Condos | 65 Condos| $339 LP$/PSF | $419k Asking Price
South Florida Homes for Sale | Find Motivated Sellers
In the last 30 days, the Top 10 HOMES that Sold had a median selling price per square foot of ⬇ $1,765 psf. It took an average of 248 days to sell, and the median sale price was $17.5M. Again, we’re in a strong buyer’s market over $1M with an approximate 28.9 month and 14 month supply of Miami Beach & Fort Lauderdale homes – there were 347 & 406 homes with 12 & 29 sold in the last 30 days, respectively.
‘Total’ HOMES for Sale | Median List Price Per Square Foot | Median Asking Price
- Miami Beach Homes | 393 Homes| $840 LP$/PSF | $2.850M Asking Price
- Bal Harbour Homes | 10 Homes| $910 LP$/PSF | $5.624M Asking Price
- Bay Harbour Homes | 23 Homes| $665 LP$/PSF | $2.4M Asking Price
- Surfside Homes | 42 Homes| $448 LP$/PSF | $855k Asking Price
- North Bay Village Homes | 22 Homes| $361 LP$/PSF | $899k Asking Price
- Sunny Isles Homes | 42 Homes| $538 LP$/PSF | $1.599M Asking Price
- Aventura Homes | 37 Homes| $355 LP$/PSF | $850k Asking Price
- Coconut Grove Homes | 50 Homes| $585 LP$/PSF | $1.645M Asking Price
- Coral Gables Homes | 370 Homes| $495 LP$/PSF | $1.693M Asking Price
- Miami Shores Homes | 108 Homes| $357 LP$/PSF | $749k Asking Price
- Eastern Shores Homes | 34 Homes| $533 LP$/PSF | $2.190M Asking Price
- Key Biscayne Homes | 117 Homes| $944 LP$/PSF | $3.295M Asking Price
- Golden Beach Homes | 44 Homes| $892 LP$/PSF | $4.775M Asking Price
- Hallandale Beach Homes | 49 Homes| $366 LP$/PSF | $1.185M Asking Price
- Ft. Lauderdale Beach Homes | 110 Homes| $586 LP$/PSF | $2.148M Asking Price
- Lauderdale-by-the-Sea Homes | 23 Homes| $394 LP$/PSF | $850k Asking Price
- Hillsboro Beach Homes | 4 Homes| $2,269 LP$/PSF | $17.622M Asking Price
- Lighthouse Point Homes | 136 Homes| $422 LP$/PSF | $1.249M Asking Price
⬆ derived from South Florida MLS Listing Database
TRENDGraphix ⬇ FIVE Years of Miami-Dade Coastal Condos $1M+
Average For Sale Price (in thousand) in March 2018: $3204
Down 0.7% compared to last month
Down 1.5% compared to last year
Average Sold Price (in thousand) in March 2018: $2519
Down 11% compared to last month
Down 9.3% compared to last year
Average Days on Market in March 2018: 194
Down 3% compared to last month
Up 5.4% compared to last year
March 2018 Sold/Original List Price Ratio Remains Steady*
Sold/Original List Price % in March 2018: 83%
Down 4.6% compared to last month
Up 1.2% compared to last year
Average Sold Price per Square Footage in March 2018: $1073
Up 5.6% compared to last month
Up 13.8% compared to last year
Condos For Sale in March 2018: 2012 units.
Up 1.1% compared to last month
Up 3.2% compared to last year
Condos Closed in March 2018: 64 units.
Up 23.1% compared to last month
Down 5.9% compared to last year
Condos Placed under Contract in March 2018: 79 units.
Up 23.4% compared to last month
Up 23.4% compared to last year
Months of Inventory based on Closed Sales in March 2018: 31.4
Down 18% compared to last month
Up 9.4% compared to 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 to 6 months of inventory based on closed sales.
Luxury Condos, Unique Penthouses, & Waterfront Homes
Stop Searching. Start Living. Let’s talk, toll-free at #888.38.DREAM or contact me for a bullseye property list of exceptional residential opportunities matching your families wants & needs. Be sure to join the VIP group for monthly market insights and new coastal properties direct to your inbox – covering South Beach, Miami Beach, Sunny Isles Beach, Aventura, Bal Harbour, Bay Harbor Islands, Surfside, North Bay Village, Hollywood, Brickell, Downtown, Wynwood-Edgewater-Midtown, Key Biscayne, Coconut Grove, Coral Gables, Bay Harbour Islands, and coastal Fort Lauderdale (East of US1).
Whether you’re seeking the very best of Miami condos for sale, a super deal on new construction, a beautiful waterfront estate, off-market & investment opportunities, vacant land for development, bulk condo sales, or relocation assistance for your family &/or team, I’ll have it customized and ready for you – contact me here and let’s discuss your ideas and a strategy here in South Florida!
Connect with me on Instagram | Twitter | Facebook | YouTube
I’m connected with the world’s best luxury real estate brand and a vast global network of friends & colleagues who offer a bespoke experience wherever you are in the world. Locally, I offer the very best in real estate knowledge and client services as a master broker-associate with the leading firm, ONE Sotheby’s International Realty. Why Sotheby’s? Because of the brand heritage, prestige, their propensity for perfection, and quite simply, the immense global reach in curating luxury goods and real estate. Since 2002, I’ve been active in the South Florida residential market with knowledge, experience, and white-glove service that rarely disappoints.
- Miami ▶ http://bit.ly/MiamiAlexaFlashBriefing
- Fort Lauderdale ▶ http://bit.ly/FortLauderdaleAlexaFlashBriefing
- @AshtonColeman’s Podcast
The Miami Beach Real Estate Blog is an excellent resource for Southeast Florida residential real estate data, trends, and property information. I’ll soon be researching South Florida’s population influx so check back soon to find out about South Florida’s anticipated growth.🤔
- MiamiDreamRealty.com
- MiamiPenthousesandEstates.com
- FortLauderdalePenthousesandEstates.com
- Coleman.Properties
- ONE Sotheby’s International Realty & Ashton Coleman
- Jade Beach, Jade Ocean & Jade Signature Condos
- What’s My Home Worth Today?
- Marketing 101 by Ashton Coleman
- Marketing Your Luxury Property
- ONE Sotheby’s International Realty | Marketing Affiliates
- Client Reviews
- New Miami Listings
- Sold Miami Properties
- TRENDS (2018) Report
- Sotheby’s International Realty History/Overview
- Sotheby’s – An Overview and the Auction House
- ONE Sotheby’s International Realty History/Overview
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
