Most people want to know what property values are doing in the time to come. Whether you own a Miami property or are looking to buy a Miami property, real estate forecasts are extremely important.
The David Siddons Group will soon launch the 2017 Miami Real Estate Report. This report covers 16 neighborhoods and 5 price ranges. For each of these sub-markets we provide you with
The average of the three lowest sales prices
The average of all the sales prices
The average of the three highest sales prices
The change in average price between 2017 and 2016
The months of inventory
Miami property value trends in 2017 – Our Report will reveal it all
If you want to know the value trends for Miami real estate in 2017 this report is definitely for you. It shows you the percentual changes in values from 2016 to 2017, together with months of inventory, which is one of the best indicators of future price movements.
To give you a good example: This report will show your that Coral Gables homes, valued between $500K and $1M are selling at average for $365 per SF. The most affordable or lesser finished homes sold for $224 per SF, while the homes with the best quality finishes or the best features sold for $531 per SF. It also shows you that these home values went up on average by 7%. The most exclusive homes in this price range even went up by 15%, meaning that buyers are willing to pay extra dollar for well finished homes in this section. Lastly, the inventory level shows 5 months, this means we are experiencing a seller’s market and there is still room for prices to increase.
Why is “Months of Inventory” such an important indicator for Miami Real Estate value trends
People often uniquely look at prices and price changes. Very few people check the months of inventory in a certain market, while this is one of the best future value predictors in the real estate industry
The months of inventory are the amount of months it take to sell all the inventory if no new listings would enter the market. It indicates the relation between supply and demand.
Below 6 months of inventory: There is more demand than supply, which creates a sellers market. This market indicated that prices have room to increase in order to stabilize the market:
Between 6 and 9 Months: A neutral or balanced market in which supply and demand is in equilibrium
Above 9 months of inventory: There is more supply than demand. We speak of a buyers market in which prices will have to come down in order to attract more demand and create balance in the market.
For the luxury market of $1M+ properties we see slightly different numbers
Buyers Market: 12 months or less
Neutral Market: 12 to 18 months
Sellers Market: 18+ months
The David Siddons Group is owned by David Siddons, a top-producing Miami real estate agent who is known for his market analysis and Miami real estate reports.
Contact the David Siddons Group for more information
David Siddons | firstname.lastname@example.org | +1.305.508.0899
WHY WORK WITH DAVID? THINGS YOU SHOULD KNOW...
For all our analytics we are agents driving some very unique and advanced tech. We Provide a granular and custom experience that empower our clients with the insight and tools to understand the most complex behaviors of any local markets.
We have only superlatives to describe how wonderful Cris Buzolin was throughout the process of selling our townhouse in Coral Gables. We were away in the UK while the transaction was taking place and Cris handled everything-from clearing out our house, selling contents when she could, arranging the moving and storage and dealing with some very difficult problems which arose. Always patient and very willing to help in every way, Cris is a consummate professional who really cares about her clients and worked extremely hard to get the price we had asked for and make things for us as easy as she could. Nothing was too much for her to handle.Cris and Marianela (who provided additional very helpful assistance to us during the transaction) are part of the team that David Siddons has assembled.When we decided to sell our property, we contacted David and he established the framework for the transaction and ensured that everything proceeded smoothly and in accordance with our wishes. In sum, David Siddons and his team are extremely competent and professional and we are totally satisfied with the service they provided. To repeat, Cris Buzolin in particular, went way beyond what one would expect from a real estate agent. The David Siddons Group has our highest recommendation!
Fantastic group of people to work with!! David and Adriana were responsive and professional throughout the entire process. We weren't familiar with South Florida so David took us under his wing and did a fabulous job giving us a tour of select neighborhoods in South Florida and shared a great deal of information about each. We fell in love with the Botaniko community in Weston and closed the deal with Adriana. If you are buying/selling this is the team you want to work with!! Thank you guys for helping us find our dream home.