Miami & Fort Lauderdale Real Estate Inventory Report | August 2016
After completing both the Sunny Isles Beach condo index and Fort Lauderdale condo index for AUG 2016, I remain bearish on the local markets.
In the last 30 days, the Top 10 CONDOS Sold totaled $29.2M (last month $81.5M) with a median selling price per square foot of $1,133 (last month $1,677). It took an average of 152 days to sell, with a median sale price of $2.550M.
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
Today we’re in a definitively strong buyer’s market between Miami & Fort Lauderdale. There were 1,973 & 217 condos for sale over $1M with 29 & 6 sold in the last 30 days showing us an approximate 68 and 36 month supply, respectively.
- Miami Beach Condos | 2697 Condos| $573 LP$/PSF | $495K Asking Price
- Bal Harbour Condos | 212 Condos| $812 LP$/PSF | $1.497M Asking Price
- Bay Harbour Condos | 153 Condos| $303 LP$/PSF | $395K Asking Price
- Surfside Condos | 92 Condos| $558 LP$/PSF | $755K Asking Price
- North Bay Village Condos | 237 Condos| $294 LP$/PSF | $360k Asking Price
- Sunny Isles Beach Condos | 1383 Condos| $577 LP$/PSF | $805K Asking Price
- Aventura Condos | 1541 Condos| $318 LP$/PSF |$450K Asking Price
- Downtown/Brickell Condos | 2578 Condos| $462LP$/PSF | $470K Asking Price
- Coconut Grove Condos | 76 Condos| $402 LP$/PSF | $699K Asking Price
- Coral Gables Condos | 186 Condos| $413 LP$/PSF | $492K Asking Price
- Key Biscayne Condos | 254 Condos| $759 LP$/PSF | $1.190M Asking Price
- Fisher Island Condos | 58 Condos| $1,606 LP$/PSF | $5.425M Asking Price
- Hallandale Beach Condos… check back next month
- Ft. Lauderdale Beach | 703 Condos| $345 LP$/PSF | $465K Asking Price
- Lauderdale-by-the-Sea Condos… next month
- Hillsboro Beach Condos… next month
- Lighthouse Point Condos… next month
In the last 30 days, the Top 10 HOMES that Sold totaled $68.013M (last month $65M) with a median selling price per square foot of $999 (last month $905). It took an average of 303 days to sell, and the median sale price was $5.970M.
‘Total’ HOMES for Sale | Median List Price Per Square Foot | Median Asking Price
Again, we’re in a buyer’s market over $1M with an approximate 27 month and 26 month supply of Miami & Fort Lauderdale homes, respectively.
- Miami Beach Homes | 352 Homes| $908 LP$/PSF | $3.397M Asking Price
- Bal Harbour Homes | 14 Homes| $900 LP$/PSF | $4.415M Asking Price
- Bay Harbour Homes | 19 Homes| $655 LP$/PSF | $2.595M Asking Price
- Surfside Homes | 39 Homes| $462 LP$/PSF | $890K Asking Price
- North Bay Village Homes | 22 Homes| $343 LP$/PSF | $830K Asking Price
- Sunny Isles Homes | 37 Homes| $538 LP$/PSF | $1.999M Asking Price
- Aventura Homes | 45 Homes| $396 LP$/PSF | $929K Asking Price
- Coconut Grove Homes | 82 Homes| $497 LP$/PSF | $1.697M Asking Price
- Coral Gables Homes | 404 Homes| $449 LP$/PSF | $1.395M Asking Price
- Key Biscayne Homes | 96 Homes| $1008 LP$/PSF | $3.495M Asking Price
- Hallandale Beach Homes… check back next month
- Golden Beach Homes… next month
- Indian Creek Island Homes.. next month
- Ft. Lauderdale Beach Homes | 435 Homes| $492 LP$/PSF | $1.625M Asking Price
- Lauderdale-by-the-Sea Homes… next month
- Hillsboro Beach Homes… next month
- Lighthouse Point Homes… next month
Down 1.7% compared to the last month
Up 30.8% compared to the last yearHome Closed in July 2016: 79 units.
Down 30.7% compared to the last month
Down 24% compared to the last year Average Sold Price per Square Footage in July 2016: $691
Up 37.9% compared to the last month
Up 22.3% compared to the last year
Up 42.1% compared to the last month
Up 72.6% compared to the last year
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