Miami Beach and Fort Lauderdale Real Estate | December 2017

Miami Beach and Fort Lauderdale Real Estate‘s Residential Inventory Report for December 2017. In today’s Miami Beach and Fort Lauderdale Real Estate market, buyers continue to have the upper hand while sellers are forced to compete.

Miami Beach Real Estate Highlights:

  • The Average Sale Price per square foot for a home in Miami Beach this year is $634 psf.
  • .90% is the average ask/sell discount for a Miami Single Family Home at 185 days on the market.
  • This year’s highest-grossing SFH sale (Miami-Dade) was $43.7M or $2,095 a square foot for a home in Coral Gables.
  • The Average Sale Price per square foot for a condo in Miami Beach is $517 psf.
  • .94% is the average ask/sell discount for a Miami Condo at 137 days on the market.
  • This year’s highest-grossing condo sale (Miami-Dade) is $31.262M or $3,218 a square foot for a condo at Palazzo Del Sol on Fisher Island.

Fort Lauderdale Real Estate Highlights:

  • The Average Sale Price per square foot for a home in Fort Lauderdale this year is $257 psf.
  • .96% is the average ask/sell discount for a Fort Lauderdale Single Family Home at 81 days on the market.
  • The highest-grossing SFH sale this year: $20M or $1,562 a square foot for a home on Del Lago Drive in Fort Lauderdale Beach.
  • The Average Sale Price per square foot for a condo in Fort Lauderdale is $287 psf.
  • .95% is the average ask/sell discount for a Fort Lauderdale Condo at 108 days on the market.
  • This year’s highest-grossing condo sale is $4M or $663 a square foot for a condo at Harbourage Place.

Here are the monthly stats for a location-by-location study.

South Florida Condos for Sale | Explore Motivated Sellers

In the last 30 days, the Top 10 CONDOS Sold in Southeast Florida totaled $50.265M (NOV $47.5M) with a median selling price per square foot of $1,405 (NOV $1,037). It took an average of 164 days to sell, with a median sale price of $3.650M.

Today we’re in a strong buyer’s market between Miami & Fort Lauderdale. In the last 30 days, there were 2,685⬆ & 219⬆ condos for sale for over $1M, with 39 & 8 sold, showing us an approximate 69 and 27.4-month supply, respectively.

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

South Florida Homes for Sale | Explore Motivated Sellers

In the last 30 days, the Top 10 HOMES that Sold totaled $76.5M (NOV $96M) with a median selling price per square foot of $851 (NOV $658). It took an average of 163 days to sell, and the median sale price was $5.248M.

Again, we’re in a buyer’s market of over $1M with an approximate 38.6-month and 22.5-month supply of Miami & Fort Lauderdale homes, respectively. There were 1,660⬆ & 406⬇ homes, with 43 & 18 sold in the last 30 days.

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

  • Miami Beach Homes | 422 Homes| $834 LP$/PSF | $2.499M Asking Price
  • Bal Harbour Homes | 15 Homes| $857 LP$/PSF | $5.250M Asking Price
  • Bay Harbor Homes | 18 Homes| $723 LP$/PSF | $2.389M Asking Price
  • Surfside Homes | 42 Homes| $426 LP$/PSF | $855k Asking Price
  • North Bay Village Homes | 22 Homes| $352 LP$/PSF | $872k Asking Price
  • Sunny Isles Homes | 49 Homes| $475 LP$/PSF | $1.5M Asking Price
  • Aventura Homes | 32 Homes| $387 LP$/PSF | $989k Asking Price
  • Coconut Grove Homes | 67 Homes| $472 LP$/PSF | $1.335M Asking Price
  • Coral Gables Homes | 320 Homes| $487 LP$/PSF | $1.597M Asking Price
  • Miami Shores Homes | 112 Homes| $341 LP$/PSF | $628k Asking Price
  • Eastern Shores Homes | 43 Homes| $552 LP$/PSF | $1.795M Asking Price
  • Key Biscayne Homes | 105 Homes| $947 LP$/PSF | $3.5M Asking Price
  • Golden Beach Homes | 36 Homes| $1,015 LP$/PSF | $5.3M Asking Price
  • Hallandale Beach Homes | 50 Homes| $397 LP$/PSF | $1.224M Asking Price
  • Ft. Lauderdale Beach Homes | 93 Homes| $644 LP$/PSF | $2.195M Asking Price
  • Lauderdale-by-the-Sea Homes | 26 Homes| $426 LP$/PSF | $998k Asking Price
  • Hillsboro Beach Homes | 5 Homes| $1,924 LP$/PSF | $10.750M Asking Price
  • Lighthouse Point Homes | 131 Homes| $419 LP$/PSF | $1.545M Asking Price

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

Miami Coastal CONDOS 1M plus - DEC 2017 - INVENTORY

Home For Sale in November 2017: 1988 units.
Up 4.2% compared to last month
Up 2.3% compared to last year

Home Closed in November 2017: 25 units.
Down 43.2% compared to last month
Down 28.6% compared to last year

Home Placed under Contract in November 2017: 45 units.
Up 15.4% compared to last month
Up 73.1% compared to last year

Miami Coastal CONDOS 1M plus - DEC 2017 - Average Days On Market

Average Days on Market in November 2017: 156
Down 24.6% compared to last month
Down 3.7% compared to last year

November 2017 Sold/Original List Price Ratio Remains Steady*

Sold/Original List Price % in November 2017: 83%
Up 3.8% compared to last month
Up 2.5% compared to last year

Miami Coastal CONDOS 1M plus - DEC 2017 - AVE PPSF SOLD

Average Sold Price per Square Footage in November 2017: $1040
Up 7.5% compared to last month
Down 4.7% compared to last year

Miami Coastal CONDOS 1M plus - DEC 2017 - INVENTORY for Sale and Sold

Average For Sale Price (in thousand) in November 2017: $3212
Down 3.3% compared to last month
Down 2.4% compared to last year

November 2017 Average Sold Price is Neutral*

Average Sold Price (in thousand) in November 2017: $2510
Up 7.3% compared to last month
Down 15.4% compared to last year

*Buyer’s marketmore than 6 months of inventory based on closed sales. Seller’s marketless than 3 months of inventory based on closed sales. Neutral market: 3 – 6 months of inventory based on closed sales.

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