Miami and Fort Lauderdale Real Estate Inventory Report | September 2016
After completing both the Sunny Isles Beach Condo Index and Fort Lauderdale Condo Index in AUG 2016, I remain bearish on our local markets. Buyers have the clear upper-hand while sellers are forced to compete.
In the last 30 days, the Top 10 CONDOS Sold totaled $36.8M (last month $29.2M) with a median selling price per square foot of $987 (last month $1,133). It took an average of 163 days to sell, with a median sale price of $2.750M.
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 2,419 & 232 condos for sale over $1M with 40 & 9 sold in the last 30 days showing us an approximate 60 and 26 month supply, respectively.
- Miami Beach Condos | 2659 Condos| $571 LP$/PSF | $495K Asking Price
- Bal Harbour Condos | 223 Condos| $951 LP$/PSF | $1.579M Asking Price
- Bay Harbour Condos | 162 Condos| $308 LP$/PSF | $399K Asking Price
- Surfside Condos | 84 Condos| $552 LP$/PSF | $722K Asking Price
- North Bay Village Condos | 238 Condos| $289 LP$/PSF | $350k Asking Price
- Sunny Isles Beach Condos | 1389 Condos| $562 LP$/PSF | $795K Asking Price
- Aventura Condos | 1550 Condos| $315 LP$/PSF |$449K Asking Price
- Downtown/Brickell Condos | 2561 Condos| $463LP$/PSF | $470K Asking Price
- Coconut Grove Condos | 76 Condos| $430 LP$/PSF | $779K Asking Price
- Coral Gables Condos | 194 Condos| $412 LP$/PSF | $486K Asking Price
- Key Biscayne Condos | 268 Condos| $769 LP$/PSF | $1.150M Asking Price
- Fisher Island Condos | 53 Condos| $1,672 LP$/PSF | $5.6M Asking Price
- Hallandale Beach Condos | 1009 Condos| $257 LP$/PSF | $299K Asking Price
- Ft. Lauderdale Beach | 709 Condos| $346 LP$/PSF | $469K Asking Price
- Lauderdale-by-the-Sea Condos | 119 Condos| $339 LP$/PSF | $520K Asking Price
- Hillsboro Beach Condos | 77 Condos| $347 LP$/PSF | $499K Asking Price
In the last 30 days, the Top 10 HOMES that Sold totaled $41M (last month $68M) with a median selling price per square foot of $716 (last month $999). It took an average of 320 days to sell, and the median sale price was $5.017M.
‘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 25 month supply of Miami & Fort Lauderdale homes, respectively.
- Miami Beach Homes | 393 Homes| $838 LP$/PSF | $2.890M Asking Price
- Bal Harbour Homes | 13 Homes| $882 LP$/PSF | $4.549M Asking Price
- Bay Harbour Homes | 19 Homes| $655 LP$/PSF | $2.497M Asking Price
- Surfside Homes | 34 Homes| $492 LP$/PSF | $913K Asking Price
- North Bay Village Homes | 20 Homes| $343 LP$/PSF | $840K Asking Price
- Sunny Isles Homes | 40 Homes| $533 LP$/PSF | $1.837M Asking Price
- Aventura Homes | 46 Homes| $376 LP$/PSF | $899K Asking Price
- Coconut Grove Homes | 82 Homes| $482 LP$/PSF | $1.695M Asking Price
- Coral Gables Homes | 366 Homes| $437 LP$/PSF | $1.2M Asking Price
- Miami Shores Homes.. check back next month
- Eastern Shores Homes.. check back next month
- Key Biscayne Homes | 88 Homes| $1024 LP$/PSF | $3.438M Asking Price
- Hallandale Beach Homes | 58 Homes| $293 LP$/PSF | $510K Asking Price
- Golden Beach Homes | 36 Homes| $1048 LP$/PSF | $4.749M Asking Price
- Ft. Lauderdale Beach Homes | 438 Homes| $490 LP$/PSF | $1.599M Asking Price
- Lauderdale-by-the-Sea Homes | 25 Homes| $364 LP$/PSF | $629M Asking Price
- Hillsboro Beach Homes | 4 Homes| $1672 LP$/PSF | $16.850M Asking Price
- Lighthouse Point Homes | 144 Homes| $399 LP$/PSF | $1.130M Asking Price
Up 63% compared to the last month
Up 169% compared to the 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 – 6 months of inventory based on closed sales
Up 31.9% compared to the last month
Up 35.8% compared to the last yearJuly 2016 Sold/Original List Price Ratio is Falling*Sold/Original List Price % in July 2016: 83%
Down 3.5% compared to the last month
Down 3.5% compared to the last year
Down 10% compared to the last month
Up 4.5% compared to the last year
Down 1.7% compared to the last month
Up 48.2% compared to the last yearHome Closed in July 2016: 44 units.
Down 39.7% compared to the last month
Down 45% compared to the last yearHome Placed under Contract in July 2016: 47 units.
Down 21.7% compared to the last month
Down 46% compared to the last year
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