Miami Beach & Fort Lauderdale Real Estate | Residential Inventory Report for April 2018
Miami Beach Residential Highlights:
Miami Beach Condos
- The YTD Average Sale Price per square foot for a Condo in Miami Beach is ⬇ $562 psf.
- .94% (6%) is the average discount for a Miami Condo at ⬇ 136 days on market.
- The highest grossing condo sale this year (Miami-Dade County) $18.5M or $2,470 per square foot for a Surfside Penthouse at FENDI Château.
Miami Beach Homes
- The Average Sale Price per square foot for a Home in Miami Beach this year is ⬆ $689 psf.
- .91% (9%) is the average discount for a Miami Single Family Home at ⬇ 166 days on market.
- The highest grossing SFH sale this year (Miami-Dade County) was $19.750M or $1,409 per square foot for a modern home in Coconut Grove.
Fort Lauderdale Residential Highlights:
Fort Lauderdale Condos
- The YTD Average Sale Price per square foot for a Condo in Fort Lauderdale Beach is ⬇ $314psf.
- .94% (6%) is the average discount for a Fort Lauderdale Beach Condo at ⬇120 days on market.
- The highest grossing condo sale so far this year was $5.050M or $1,175 per square foot for a Penthouse condo at L’Hermitage.
Fort Lauderdale Homes
- The Average Sale Price per square foot for a Home in Fort Lauderdale this year is ⬇ $279 psf.
- .95% (5%) is the average discount for a Fort Lauderdale Single Family Home at ⬇ 82 days on market.
- The highest grossing SFH sale this year was $6.6M or $772 per square foot for a modern home on Isle of Palms Drive in Las Olas Isles.
In today’s residential market, buyers continue to have the upper-hand while sellers are forced to compete.
South Florida Condos for Sale | Find Motivated Sellers
In the last 30 days, the Top 10 CONDOS that Sold in Southeast Florida had a median selling price of ⬇ $1,628 per square foot. It took an average of ⬇194 days to sell, with a median sale price of $5.448M. Today we’re in a strong buyer’s market between Miami Beach & Fort Lauderdale. There are ⬇716 & ⬇223 condos for sale over $1M while in the last 30 days, 29 & 15 sold showing us an approximate 24 and 15 month supply, respectively.
Here are the monthly stats for a location by location study.
‘Total’ CONDOS for Sale | Median List Price Per Square Foot | Median Asking Price
- Miami Beach Condos | 2,983 Condos| $542 LP$/PSF | $475k Asking Price
- Bal Harbour Condos | 273 Condos| $900 LP$/PSF | $1.799M Asking Price
- Bay Harbour Condos | 182 Condos| $336 LP$/PSF | $495k Asking Price
- Surfside Condos | 126 Condos| $569 LP$/PSF | $850k Asking Price
- North Bay Village Condos | 219 Condos| $281 LP$/PSF | $330k Asking Price
- Sunny Isles Beach Condos | 1,474 Condos| $568 LP$/PSF | $793k Asking Price
- Aventura Condos | 1,551 Condos| $297 LP$/PSF |$420k Asking Price
- Downtown/Brickell Condos | 2,854 Condos| $469 LP$/PSF | $490k Asking Price
- Coconut Grove Condos | 59 Condos| $812 LP$/PSF | $2.099M Asking Price
- Coral Gables Condos | 219 Condos| $398 LP$/PSF | $450k Asking Price
- Key Biscayne Condos | 294 Condos| $683 LP$/PSF | $1.099M Asking Price
- Fisher Island Condos | 26 Condos| $1,599 LP$/PSF | $4.650M Asking Price
- Hallandale Beach Condos | 914 Condos| $264 LP$/PSF | $300k Asking Price
- Ft. Lauderdale Beach | 604 Condos| $414 LP$/PSF | $595k Asking Price
- Lauderdale-by-the-Sea Condos | 130 Condos| $339 LP$/PSF | $483k Asking Price
- Hillsboro Beach Condos | 70 Condos| $318 LP$/PSF | $400k Asking Price
South Florida Homes for Sale | Find Motivated Sellers
In the last 30 days, the Top 10 HOMES that Sold had a median selling price per square foot of ⬆$948. It took an average of 275 days to sell, and the median sale price was $8M. Again, we’re in a strong buyer’s market over $1M with an approximate 24.5 month and 16 month supply of Miami & Fort Lauderdale homes – there were ⬆1,814 & ⬇428 homes with 74 & 27 sold in the last 30 days, respectively.
‘Total’ HOMES for Sale | Median List Price Per Square Foot | Median Asking Price
- Miami Beach Homes | 458 Homes| $825 LP$/PSF | $2.648M Asking Price
- Bal Harbour Homes | 14 Homes| $910 LP$/PSF | $6M Asking Price
- Bay Harbour Homes | 21 Homes| $712 LP$/PSF | $2.5M Asking Price
- Surfside Homes | 52 Homes| $416 LP$/PSF | $799k Asking Price
- North Bay Village Homes | 25 Homes| $331 LP$/PSF | $730k Asking Price
- Sunny Isles Homes | 41 Homes| $498 LP$/PSF | $1.5M Asking Price
- Aventura Homes | 41 Homes| $375 LP$/PSF | $890k Asking Price
- Coconut Grove Homes | 65 Homes| $547 LP$/PSF | $1.598M Asking Price
- Coral Gables Homes | 404 Homes| $477 LP$/PSF | $1.563M Asking Price
- Miami Shores Homes | 110 Homes| $345 LP$/PSF | $749k Asking Price
- Eastern Shores Homes | 43 Homes| $568 LP$/PSF | $1.890M Asking Price
- Key Biscayne Homes | 120 Homes| $952 LP$/PSF | $3.495M Asking Price
- Golden Beach Homes | 41 Homes| $939 LP$/PSF | $4.925M Asking Price
- Hallandale Beach Homes | 54 Homes| $347 LP$/PSF | $440k Asking Price
- Ft. Lauderdale Beach Homes | 122 Homes| $627 LP$/PSF | $2.1M Asking Price
- Lauderdale-by-the-Sea Homes | 33 Homes| $399 LP$/PSF | $925k Asking Price
- Hillsboro Beach Homes | 5 Homes| $2,269 LP$/PSF | $10.750M Asking Price
- Lighthouse Point Homes | 133 Homes| $416 LP$/PSF | $1.350M Asking Price
⬆ derived from South Florida MLS Listing Database
TRENDGraphix ⬇ NINE Years of Miami-Dade Coastal Condos $1M+
Home For Sale in March 2018 (End of Qtr): 2032 units.
Up 3.5% compared to last quarter
Up 2% compared to last year
Home Closed in March 2018 (Quarterly): 158 units.
Up 46.3% compared to last quarter
Up 9% compared to last year
Home Placed under Contract in March 2018 (Quarterly): 202 units.
Up 48.5% compared to last quarter
Up 11.6% compared to last year
Average Sold Price per Square Footage in March 2018 (Quarterly): $1060
Up 2.8% compared to last quarter
Up 3.1% compared to last year
Average For Sale Price (in thousand) in March 2018 (Quarterly): $3265
Up 0.3% compared to last quarter
Down 2.4% compared to last year
Average Sold Price (in thousand) in March 2018 (Quarterly): $2656
Up 3.8% compared to last quarter
Down 2.1% compared to last year
Months of Inventory based on Closed Sales in March 2018 (Quarterly): 38.6
Down 29.2% compared to last quarter
Down 6.5% compared to 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 to 6 months of inventory based on closed sales.
Luxury Condos, Unique Penthouses, & Waterfront Homes
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The Miami Beach Real Estate Blog is an excellent resource for Southeast Florida residential real estate data, trends, and property information. I’ll soon be researching South Florida’s population influx along with pre-construction profits vs. loss so check back soon to find out about South Florida’s anticipated growth and how preconstruction buyers are doing with their intent to flip their ‘investments’ for a profit.🤔
My other awesome sites include…
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- Coleman.Properties
- ONE Sotheby’s International Realty & Ashton Coleman
- Jade Beach, Jade Ocean & Jade Signature Condos
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- ONE Sotheby’s International Realty | Marketing Affiliates
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- TRENDS (2018) Report
- Sotheby’s International Realty History/Overview
- Sotheby’s – An Overview and the Auction House
- ONE Sotheby’s International Realty History/Overview
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