Miami Beach & Fort Lauderdale Real Estate | Residential Inventory Report for May 2018

Miami Beach & Fort Lauderdale Real Estate | Residential Inventory Report for May 2018

Miami Beach Residential Highlights:

Miami Beach Condos

• The YTD Average Sale Price per square foot for a Condo in Miami Beach is ⬇ $556 psf.
• .93% (7%) is the average discount for a Miami Condo at ⬇ 132 days on market.
• The highest grossing condo sale this year (Miami-Dade County) $26M or $3,820 psf for a South Beach Penthouse at 321 Ocean.

Miami Beach Homes

• The Average Sale Price per square foot for a Home in Miami Beach this year is ⬆ $706 psf.
• .91% (9%) is the average discount for a Miami Single Family Home at ⬇ 169 days on market.
• The highest grossing SFH sale this year (Miami-Dade County) was $19.750M or $1,409 psf 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 ⬆ $377 psf.
• .94% (6%) is the average discount for a Fort Lauderdale Beach Condo at ⬇122 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 ⬆ $286 psf.
• .95% (5%) is the average discount for a Fort Lauderdale Single Family Home at ⬇ 84 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

Home For Sale in March 2018: 2036 units.
Up 1.1% compared to last month
Up 2.2% compared to last year

Home Closed in March 2018: 63 units.
Up 18.9% compared to last month
Down 11.3% compared to last year

Home Placed under Contract in March 2018: 81 units.
Up 26.6% compared to last month
Up 20.9% compared to last year

Average Days on Market in March 2018: 196
Down 9.3% compared to last month
Up 5.4% compared to last year

Sold/Original List Price % in March 2018: 83%
Down 2.4% compared to last month
0% compared to last year

Average Sold Price per Square Footage in March 2018: $1070
Up 5.3% compared to last month
Up 8.4% compared to last year

Average For Sale Price (in thousand) in March 2018: $3261
Down 0.7% compared to last month
Down 2.6% compared to last year

Average Sold Price (in thousand) in March 2018: $2539
Down 11% compared to last month
Down 13.4% compared to last year

Months of Inventory based on Closed Sales in March 2018: 32.3
Down 15% compared to last month
Up 15% 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

Whether you’re seeking the best new construction, a super Brickell penthouse property, a sensational waterfront estate, off-market & investment opportunities, vacant land for development, bulk condo sales, or relocation assistance for your family & team, I’ll have it customized and ready for you – contact me here and let’s discuss your ideas and a strategy here in South Florida!

Stop Searching. Start Living. Let’s talk, toll-free at #888.38.DREAM or contact me for a bullseye property list of exceptional residential opportunities matching your families wants & needs. Be sure to join the VIP group for monthly market insights and new coastal properties direct to your inbox – covering South Beach, Miami Beach, Sunny Isles Beach, Aventura, Bal Harbour, Bay Harbor Islands, Surfside, North Bay Village, Hollywood, Brickell, Downtown, Wynwood-Edgewater-Midtown, Key Biscayne, Coconut Grove, Coral Gables, Bay Harbour Islands, and coastal Fort Lauderdale (East of US1).

I’m connected with the world’s best luxury real estate brand and a vast global network of friends & colleagues who offer a bespoke experience wherever you are in the world. Locally, I offer the very best in real estate knowledge and client services as a master broker-associate with the leading firm, ONE Sotheby’s International Realty. Why Sotheby’s? Because of the brand heritage, prestige, their propensity for perfection, and quite simply, the immense global reach in curating luxury goods and real estate. Since 2002, I’ve been active in the South Florida residential market with knowledge, experience, and white-glove service that rarely disappoints.

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.🤔

1. MiamiDreamRealty.com
2. MiamiPenthousesandEstates.com
3. FortLauderdalePenthousesandEstates.com
4. Coleman.Properties
5. ONE Sotheby’s International Realty & Ashton Coleman
6. Jade Beach, Jade Ocean & Jade Signature Condos

• What’s My Home Worth Today?
• Marketing 101 by Ashton Coleman
• Marketing Your Luxury Property
• ONE Sotheby’s International Realty | Marketing Affiliates
• Client Reviews
• New Miami Listings
• Sold Miami Properties
• 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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