Miami and Fort Lauderdale Real Estate Inventory Report | December 2016

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Miami and Fort Lauderdale Real Estate Inventory Report | December 2016

In today’s market, buyers have the clear upper-hand while sellers are forced to compete.

In the last 30 days, the Top 10 CONDOS Sold totaled $47.041M (last month $41.6M) with a median selling price per square foot of $1,101 (last month $1,489). It took an average of 128 days to sell, with a median sale price of $3.345M.

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 2,549 & 446 condos for sale over $1M with 40 & 23 sold in the last 30 days showing us an approximate 63.7 and 19.4 month supply, respectively.

In the last 30 days, the Top 10 HOMES that Sold totaled $49M (last month $63.6M) with a median selling price per square foot of $992 (last month $1064). It took an average of 183 days to sell, and the median sale price was $4M.

‘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 26 month and 24 month supply of Miami & Fort Lauderdale homes, respectively. There were 1373 & 622 homes with 52 & 26 sold in the last 30 days.

  • Miami Beach Homes | 439 Homes| $844 LP$/PSF | $2.845M Asking Price
  • Bal Harbour Homes | 17 Homes| $919 LP$/PSF | $5.3M Asking Price
  • Bay Harbour Homes | 18 Homes| $655 LP$/PSF | $2.749M Asking Price
  • Surfside Homes | 47 Homes| $454 LP$/PSF | $855K Asking Price
  • North Bay Village Homes | 20 Homes| $344 LP$/PSF | $788K Asking Price
  • Sunny Isles Homes | 45 Homes| $523 LP$/PSF | $1.550M Asking Price
  • Aventura Homes | 42 Homes| $411 LP$/PSF | $972K Asking Price
  • Coconut Grove Homes | 74 Homes| $529 LP$/PSF | $2.075M Asking Price
  • Coral Gables Homes | 345 Homes| $451 LP$/PSF | $1.249M Asking Price
  • Miami Shores Homes | 114 Homes| $318 LP$/PSF | $640K Asking Price
  • Eastern Shores Homes | 2 Homes| $524 LP$/PSF | $1.792M Asking Price
  • Key Biscayne Homes | 99 Homes| $1023 LP$/PSF | $3.549M Asking Price
  • Hallandale Beach Homes | 72 Homes| $374 LP$/PSF | $608K Asking Price
  • Golden Beach Homes | 43 Homes| $941 LP$/PSF | $4.5M Asking Price
  • Ft. Lauderdale Beach Homes | 235 Homes| $647 LP$/PSF | $2.795M Asking Price
  • Lauderdale-by-the-Sea Homes | 25 Homes| $399 LP$/PSF | $750M Asking Price
  • Hillsboro Beach Homes | 4 Homes| $1760 LP$/PSF | $16.850M Asking Price
  • Lighthouse Point Homes | 151 Homes| $414 LP$/PSF | $1.175M Asking Price

{Figures derived above from South Florida MLS Listing Database & below, TRENDGraphix ‘Miami Coastal Condos $1M+’}

Average Sold Price per Square Footage in November 2016: $1144
Up 7% compared to the last month
Up 14.3% compared to the last year

DEC 2016 Average PPSF

Home For Sale in November 2016: 1858 units.
Up 5.4% compared to the last month
Up 30.5% compared to the last year

Home Closed in November 2016: 31 units.
Down 11.4% compared to the last month
Down 31.1% compared to the last year

Home Placed under Contract in November 2016: 19 units.
Down 38.7% compared to the last month
Down 62% compared to the last year

DEC 2016 Number of Condos

Months of Inventory based on Closed Sales in November 2016: 59.9
Up 18.9% compared to the last month
Up 89.4% 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

DEC 2016 Months of Inventory

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