Neighborhood Economics for Bal Harbour Condos – Quarter 1 and 2 of 2015

The Bal Harbour Condo Market in a Nutshell

Get a quick overview of the Bal Harbour Real Estate Market in the first half year of 2015

The Bal Harbour Condo Market in a Nutshell – Read our quarterly report here with all the key market data to be quickly updated on the Bal Harbour Condo Market.

The ‘neighborhood economics’ blogs are excellent to gather a pulse on the Bal Harbour Condo Market because we provide the market’s key indicators. This blog focuses on the last half year of Bal Harbour Real Estate Data and is updated every quarter. All data are derived from the MLS South Florida.

Data are given for Bal Harbour Condos in the price ranges of:

$500,000 – $1M
$1M – $2M
$2M +

Summary of the Bal Harbour Condo Market– Q2 2015

Overall the Bal Harbour Condo market saw a steady first half year of 2015. The amount of listings as well as the condos sold remained stable and therefore we saw little change in the inventory levels. The luxury market of $2M+ condos saw a small decrease in sales therefore causing the inventory levels to increase.

Besides the luxury markets, the Bal Harbour condo market is experiencing a neutral market (6 to 9 months of inventory), meaning sellers and buyers have the same bargaining power.

Sales prices have increased slightly within the first half year.

Stayed tuned during the next quarters to see whether the above finding are new trends!

Overview of Bal Harbour condo data for the first half year of 2015. The data are provided for three price ranges.

For Sale vs Sold Properties in Bal Harbour

An overview of how many properties were listed for sale as well as how many properties were sold per month in each price range.

How many condos were listed and how many condos sold in Bal Harbour in 2015 (first half year)?

The Months of Inventory in Bal Harbour

The months of inventory is an important indicator in real estate. It indicates how many months it takes to sell all the current listings under the assumption that no new listings will enter the market.

The months of inventory for Bal Harbour real estate.

Rules of Thumb

Buyer’s market: more than 9 months of inventory based on closed sales
Seller’s market: less than 6 months of inventory based on closed sales
Neutral market: 6 – 9 months of inventory based on closed sales