Miami and Fort Lauderdale Real Estate Inventory Report | August 2016

Sunny Isles Beach Real Estate

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.

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
 Miami HOME Inventory JUL 2016Home For Sale in July 2016: 1143 units.
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 Miami HOME Price per Square Foot JUL 2016Average 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
Miami HOME Months of Inventory JUL 2016
 Months of Inventory based on Closed Sales in July 2016: 14.5
Up 42.1% compared to the last month
Up 72.6% compared to the last year
{All figures derived from South Florida MLS Listing Database & TrendGraphix}

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