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)
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 ⇓
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.
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.
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
Read our Quarterly Neighborhood analytics for:
♦ Bal Harbour
♦ Coconut Grove
♦ Coral Gables
♦ Downtown / Midtown Miami
♦ Fisher Island
♦ Key Biscayne Condos / Key Biscayne Homes
♦ Miami Beach Condos / Miami Beach Homes
♦ South Beach Condos / South Beach Homes
♦ South Miami
♦ Sunny Isles
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These are the most commonly asked Google Real Estate Related questions
1. What are the Current Best New Condos in Miami?
If you want to hear in more details our opinions on the best new Miami new construction condos. Please read this article:Best New Construction Condos 2022-2023.
2. What is the best New Construction Condo in Fort Lauderdale?
In our opinion, the Residences at Pier Sixty-six are certainly the most interesting and unique. Already well underway this 32 Acre project will be home to the first of its kind Marina where owners will be able to anchor up vessels up to a staggering 400 ft! For specifics of this project see our independent review of this project.
3. How can I compare the new luxury construction Condos to the best existing Luxury Condos in Miami?
Our Best Luxury Condos in Miami article will prove to be very useful to those looking to compare the existing to the new. You may also want to watch this video which shows the performance of the best Condos in Miami over the last 15 years!
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