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.
- Miami Beach Condos | 2956 Condos| $560 LP$/PSF | $490K Asking Price
- Bal Harbour Condos | 236 Condos| $937 LP$/PSF | $1.723M Asking Price
- Bay Harbour Condos | 163 Condos| $314 LP$/PSF | $445K Asking Price
- Surfside Condos | 106 Condos| $599 LP$/PSF | $799K Asking Price
- North Bay Village Condos | 255 Condos| $282 LP$/PSF | $329k Asking Price
- Sunny Isles Beach Condos | 1400 Condos| $551 LP$/PSF | $769K Asking Price
- Aventura Condos | 1597 Condos| $312 LP$/PSF |$439K Asking Price
- Downtown/Brickell Condos | 2737 Condos| $462 LP$/PSF | $465K Asking Price
- Coconut Grove Condos | 80 Condos| $517 LP$/PSF | $962K Asking Price
- Coral Gables Condos | 199 Condos| $396 LP$/PSF | $465K Asking Price
- Key Biscayne Condos | 269 Condos| $743 LP$/PSF | $1.150M Asking Price
- Fisher Island Condos | 53 Condos| $1,679 LP$/PSF | $5.750M Asking Price
- Hallandale Beach Condos | 1077 Condos| $250 LP$/PSF | $299K Asking Price
- Ft. Lauderdale Beach | 659 Condos| $359 LP$/PSF | $495K Asking Price
- Lauderdale-by-the-Sea Condos | 95 Condos| $361 LP$/PSF | $549K Asking Price
- Hillsboro Beach Condos | 88 Condos| $350 LP$/PSF | $455K Asking Price
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
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
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
Luxury Real Estate in Southeast Florida
The Miami Beach Real Estate Blog is an awesome online database for Sunny Isles & Miami Beach real estate information. Contact me for the perfect properties along Miami Beach, Sunny Isles Beach, Aventura, Bal Harbour, Surfside, North Bay Village and South Beach. I also cover the most desirable areas of Fort Lauderdale, Key Biscayne, Coconut Grove, Coral Gables and Bay Harbour Islands. Whether you’re looking for the latest in waterfront estates, condo resales, land for development, corporate relocation, market trends, off-market properties, new construction, bulk sales, or just plain good deals, I’ll have it customized and ready for you.
Gain fast access to the latest in real estate trends, new listings, preferred developments, important news updates, sales & statistics by signing up to the Monthly VIP Buyer Alert. Explore new listings, property information & buying options on Miami construction developments, gated communities, waterfront homes, luxury townhomes, Miami Penthouses plus so much more.
Over 14 Years Experience – I’m a Southeast Florida real estate broker-associate with the leading firm – ONE Sotheby’s International Realty. Why Sotheby’s? Because of the brand heritage, prestige, global reach and their propensity for perfection. Since 2002, I’ve been active in the Southeast Florida market with experience that rarely disappoints. No hassle. No pressure. Just honest advice.
Social Media, Stay Connected.
- Subscribe to the monthly alert for updates on SoFla’s best neighborhoods
- Like Coleman Properties Group (#CPG) on Facebook
- Follow AshtonColeman on Instagram
- Follow AshtonColeman’s Twitter for the latest in South Florida news
- SnapChat Ashton.Coleman for behind the scenes real estate adventures
List Your Property to Sell:
ONE Sotheby’s International Realty & Ashton Coleman | Global Marketing. Local Prestige.
- Marketing by Ashton Coleman
- Marketing Your Luxury Property
- Marketing Presentation – 2016
- ONE Sotheby’s International Realty Marketing & Affiliates
- CPG YouTube Channel
- Client Reviews
- Sold Miami Properties
- Sotheby’s International Realty History/Overview
- Sotheby’s – An Overview and the Auction House
- ONE Sotheby’s International Realty History/Overview
- New Miami Listings
Miami Luxury Condos & Waterfront Homes for Sale:
Southeast Florida Real Estate | Websites & Blogs
- MiamiDreamRealty.com
- MiamiPenthousesandEstates.com
- Coleman.Properties (Fort Lauderdale Specific)
- ONE Sotheby’s International Realty – Agent Site
- Jade Beach, Jade Ocean & Jade Signature Condos
- Turnberry Ocean Colony Condos
- MiamiDreamRealty.com/blog
- blog.JadeCondosSunnyIsles.com
- blog.TurnberryOceanColonySunnyIsles.com
Who You Are:
You are a client – not a customer:
- Clients are under the protection of another
- Customers purchase a commodity or service
Knowledge is protection. As a client, you can expect fully accurate information that you will understand, implement, and use to build your net worth.