South Miami Homes For Sale – The Investment Value of South Miami Real Estate
Investing in South Miami Real Estate
An Independent guide to the value of South Miami Homes for sale
South Miami is located just South-West of Coral Gables and North of Pinecrest and is known to be one of Miami’s most desired neighborhoods. The South Miami Real Estate Market is dominated by Single Family homes and attracts mainly families with (younger) kids.
The area of South Miami concentrates around the Shops at Sunset Place and many of the South Miami homes are within walking distance to South Miami’s many restaurants, bars and shops. There is still a considerable amount of older homes in Miami and people looking to invest in South Miami Real Estate often buy older properties to build a brand new South Miami home for themselves or for investment and resell purposes. Because of these older homes prices can vary considerably from below $500K to over $2M. In this research we only take homes of $500K+ in consideration.
Read our Investors Guide to South Miami Real Estate – Q1 2015 Update here
What did the market do in the last 6 months | Inventory levels and price changes for different budgets
Furthermore, South Miami is a desired neighborhood because it offers some great “A-Rated” public Schools and because of its proximity to the business and financial districts of Coral Gables and Brickell
Investing in South Miami Real Estate – The Average Sales Prices
South Miami homes have seen a steady increase in the sales prices per Sq.Ft in the last 4 years. The Investment value of South Miami homes for sale increased by more than $75 per Sq.Ft.
The actual sales prices have also been increasing with a slight decrease in 2012.
Investing in South Miami Homes – What are the values compared to other Miami Areas
Despite increasing values, investing in South Miami Homes is still more affordable than investing in any of the other much desired Miami areas such as Coral Gables or Coconut Grove.
Investing in South Miami Real Estate – Low Inventory Levels
South Miami Real Estate shows a very neutral or balanced market that tends to go towards a sellers market.
Inventory levels are expressed in a number of months and this important Real Estate indicator shows the amount of months it takes to sell all current listings if no new listings would enter the market.
♦ < 6 Months ⇒ Sellers Market (Favorable for sellers as there is lack of inventory)
♦ Between 6 − 9 Months ⇒ Neutral Market (A Very well Balanced Market)
♦ > 9 Months ⇒ Buyers Market (Favorable to buyers as there is an oversupply on the market)
Please Read our South Miami Neighborhood Analytics for Inventory levels and prices in South Miami during Q1 2015 (Provided for homes of different budgets)
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No generalized opinions but an analytic approach