Miami and Fort Lauderdale Real Estate Inventory Report | June 2017

In the last 30 days, the Top 10 CONDOS Sold totaled $42M (APR $60M) with a median selling price per square foot of $1,448 (APR $1,614). It took an average of 160 days to sell, with a median sale price of $3.297M.

Today we’re in a strong buyer’s market between Miami & Fort Lauderdale. There were 2,632 & 456 condos for sale over $1M with 64 & 23 sold in the last 30 days showing us an approximate 41 and 20 month supply, respectively.

‘Total’ CONDOS for Sale | Median List Price Per Square Foot | Median Asking Price

• Miami Beach Condos | 2955 Condos| $553 LP$/PSF | $485k Asking Price
• Bal Harbour Condos | 273 Condos| $890 LP$/PSF | $1.750M Asking Price
• Bay Harbour Condos | 182 Condos| $333 LP$/PSF | $520k Asking Price
• Surfside Condos | 105 Condos| $599 LP$/PSF | $899k Asking Price
• North Bay Village Condos | 239 Condos| $289 LP$/PSF | $335k Asking Price
• Sunny Isles Beach Condos | 1467 Condos| $570 LP$/PSF | $790k Asking Price
• Aventura Condos | 1678 Condos| $306 LP$/PSF |$429k Asking Price
• Downtown/Brickell Condos | 2761 Condos| $460 LP$/PSF | $465k Asking Price
• Coconut Grove Condos | 86 Condos| $523 LP$/PSF | $1.095M Asking Price
• Coral Gables Condos | 211 Condos| $383 LP$/PSF | $470k Asking Price
• Key Biscayne Condos | 300 Condos| $759 LP$/PSF | $1.199M Asking Price
• Fisher Island Condos | 36 Condos| $1,579 LP$/PSF | $4.695M Asking Price
• Hallandale Beach Condos | 989 Condos| $250 LP$/PSF | $299k Asking Price
• Ft. Lauderdale Beach | 623 Condos| $390 LP$/PSF | $525k Asking Price
• Lauderdale-by-the-Sea Condos | 128 Condos| $352 LP$/PSF | $538k Asking Price
• Hillsboro Beach Condos | 93 Condos| $329 LP$/PSF | $425k Asking Price

Miami Homes for Sale | Motivated Sellers

In the last 30 days, the Top 10 HOMES that Sold totaled $56.8M (APR $115M) with a median selling price per square foot of $826 (APR $859). It took an average of 201 days to sell, and the median sale price was $5.143M.

Again, we’re in a buyer’s market over $1M with an approximate 19 month and 20 month supply of Miami & Fort Lauderdale homes, respectively. There were 1748 & 1003 homes with 92 & 49 sold in the last 30 days.

‘Total’ HOMES for Sale | Median List Price Per Square Foot | Median Asking Price

• Miami Beach Homes | 424 Homes| $822 LP$/PSF | $2.595M Asking Price
• Bal Harbour Homes | 14 Homes| $858 LP$/PSF | $4.5M Asking Price
• Bay Harbour Homes | 17 Homes| $794 LP$/PSF | $2.350M Asking Price
• Surfside Homes | 53 Homes| $422 LP$/PSF | $770k Asking Price
• North Bay Village Homes | 24 Homes| $354 LP$/PSF | $873k Asking Price
• Sunny Isles Homes | 45 Homes| $498 LP$/PSF | $1.550M Asking Price
• Aventura Homes | 37 Homes| $400 LP$/PSF | $1.025M Asking Price
• Coconut Grove Homes | 58 Homes| $474 LP$/PSF | $1.675M Asking Price
• Coral Gables Homes | 388 Homes| $459 LP$/PSF | $1.325M Asking Price
• Miami Shores Homes | 98 Homes| $324 LP$/PSF | $692k Asking Price
• Eastern Shores Homes | 38 Homes| $595 LP$/PSF | $2.148M Asking Price
• Key Biscayne Homes | 111 Homes| $995 LP$/PSF | $3.490M Asking Price
• Hallandale Beach Homes | 58 Homes| $352 LP$/PSF | $399k Asking Price
• Golden Beach Homes | 42 Homes| $964 LP$/PSF | $4.825M Asking Price
• Ft. Lauderdale Beach Homes | 82 Homes| $563 LP$/PSF | $1.985M Asking Price
• Lauderdale-by-the-Sea Homes | 27 Homes| $371 LP$/PSF | $609k Asking Price
• Hillsboro Beach Homes | 5 Homes| $1,507 LP$/PSF | $10.750M Asking Price
• Lighthouse Point Homes | 136 Homes| $401 LP$/PSF | $1.319M Asking Price

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

Home For Sale in May 2017: 1955 units.
Down 1% compared to the last month
Up 4.5% compared to the last year

Home Closed in May 2017: 45 units.
Down 10% compared to the last month
Down 8.2% compared to the last year

Home Placed under Contract in May 2017: 58 units.
Down 1.7% compared to the last month
Up 26.1% compared to the last year

Average Days on Market in May 2017: 167
Down 12.6% compared to the last month
Up 19.3% compared to the last year

May 2017 Sold/Original List Price Ratio is Rising*

Sold/Original List Price % in May 2017: 86%
Up 4.9% compared to the last month
Up 1.2% compared to the last year

Average Sold Price per Square Footage in May 2017: $1227
Up 43.2% compared to the last month
Up 14% 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