Neighborhood Economics for Miami Beach Condos – Quarter 1 and 2 of 2015

The Miami Beach Condo Market in a Nutshell

Get a quick overview of the Miami Beach Condo Market in the first half year of 2015

(From Dade Blvd to 88th Street)

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

Check here for the Miami Beach Home Market

The ‘neighborhood economics’ blogs are excellent to gather a pulse on the Miami Beach Condo Market as we provide the market’s key indicators. This blog focuses on the last 6 months of Miami Beach Real Estate Data and is updated every quarter.  All Data are derived from the MLS South Florida

Data are given for Miami Beach Condos in the price ranges of:

• $500,000 – $1M
• $1M – $2M
• $2M +

Summary of the Miami Beach Condo Market– Q2 2015

The Miami Beach condo market remained fairly stable. Inventory levels remained at a steady average level (Besides the jump in inventory in April for the luxury market). Generally speaking Miami Beach condos are in a buyers market albeit not a strong buyers market. Sales prices remained at an average level over the second quarter of 2015.

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

⇓ All the data in a nutshell ⇓

Overview of the Miami Beach Condo market in the first half year of 2015. We provide the market’s key data for three budgets.

For Sale vs Sold Condos in Miami Beach

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 Miami Beach in 2015 (first half year)?

The Months of Inventory in Miami Beach

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 Miami Beach condos.

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

The Sales Prices of condos in Miami Beach

Miami Beach sales prices (per Sq.Ft) in the first 6 months of 2015.

Read our Quarterly Neighborhood analytics for:

♦ Aventura
♦ Bal Harbour
♦ Brickell
♦ Coconut Grove
♦ Coral Gables
♦ Downtown / Midtown Miami
♦ Fisher Island
♦ Key Biscayne Condos / Key Biscayne Homes
♦ Miami Beach Condos / Miami Beach Homes 
♦ Pinecrest
♦ South Beach Condos / South Beach Homes 
♦ South Miami
♦ Sunny Isles

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