Miami and Fort Lauderdale Real Estate Inventory Report | November 2016

Jade Trio Sunny Isles Beach

Miami and Fort Lauderdale Real Estate Inventory Report | November 2016

In today’s market, buyers have the clear upper-hand while sellers are forced to compete. The CEO of EWM was quoted this week for noting luxury seller’s who have not gotten the hint.

“When you have inventory growing to that level and sales falling off, the major motivator to buyers is going to be an adjustment in price.” – Ron Shuffield EWM

In the last 30 days, the Top 10 CONDOS Sold totaled $41.586M (last month $43.5M) with a median selling price per square foot of $1,489 (last month $1,192). It took an average of 193 days to sell, with a median sale price of $4.075M.

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 strong buyer’s market between Miami & Fort Lauderdale. There were 1,970 & 222 condos for sale over $1M with 32 & 2 sold in the last 30 days showing us an approximate 62 and 111 month supply, respectively.

In the last 30 days, the Top 10 HOMES that Sold totaled $63.6M (last month $41M) with a median selling price per square foot of $1,064 (last month $716). It took an average of 234 days to sell, and the median sale price was $5.524M.

‘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 24 month and 24 month supply of Miami & Fort Lauderdale homes, respectively. There were 1473 & 549 homes with 62 & 23 sold in the last 30 days.

  • Miami Beach Homes | 404 Homes| $820 LP$/PSF | $2.5M Asking Price
  • Bal Harbour Homes | 17 Homes| $919 LP$/PSF | $4.790M Asking Price
  • Bay Harbour Homes | 16 Homes| $643 LP$/PSF | $2.699M Asking Price
  • Surfside Homes | 41 Homes| $472 LP$/PSF | $899K Asking Price
  • North Bay Village Homes | 20 Homes| $344 LP$/PSF | $840K Asking Price
  • Sunny Isles Homes | 42 Homes| $530 LP$/PSF | $1.845M Asking Price
  • Aventura Homes | 39 Homes| $411 LP$/PSF | $963K Asking Price
  • Coconut Grove Homes | 75 Homes| $525 LP$/PSF | $1.999M Asking Price
  • Coral Gables Homes | 386 Homes| $456 LP$/PSF | $1.347M Asking Price
  • Miami Shores Homes | 107 Homes| $318 LP$/PSF | $695K Asking Price
  • Eastern Shores Homes | 6 Homes| $636 LP$/PSF | $1.948M Asking Price
  • Key Biscayne Homes | 96 Homes| $997 LP$/PSF | $3.495M Asking Price
  • Hallandale Beach Homes | 70 Homes| $347 LP$/PSF | $510K Asking Price
  • Golden Beach Homes | 41 Homes| $1024 LP$/PSF | $4.750M Asking Price
  • Ft. Lauderdale Beach Homes | 326 Homes| $582 LP$/PSF | $2.3M Asking Price
  • Lauderdale-by-the-Sea Homes | 27 Homes| $376 LP$/PSF | $750M Asking Price
  • Hillsboro Beach Homes | 5 Homes| $1510 LP$/PSF | $15.750M Asking Price
  • Lighthouse Point Homes | 147 Homes| $435 LP$/PSF | $1.275M Asking Price

Average Sold Price per Square Footage in October 2016: $1005
Up 22.3% compared to the last month
Down 2.7% compared to the last year
Miami CONDOS 1M plus Ave PPSF SOLD NOV 2016
Home For Sale in October 2016: 2317 units.
Up 0.3% compared to the last month
Up 28.4% compared to the last yearHome Closed in October 2016: 41 units.
Down 37.9% compared to the last month
Down 35.9% compared to the last yearHome Placed under Contract in October 2016: 32 units.
Down 52.9% compared to the last month
Down 46.7% compared to the last year


Average Days on Market in October 2016: 155
Up 5.4% compared to the last month
Up 0.6% compared to the last year

October 2016 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in October 2016: 85%
0% compared to the last month
Down 5.6% compared to the last year

Miami CONDOS 1M plus DOM and Dicount NOV 2016
{Figures derived from South Florida MLS Listing Database & TRENDGraphix Miami Coastal Condos $1M+}

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