Neighborhood Economics for Miami Beach Condos – Quarter 1 2015
The Miami Beach Condo Market in a Nutshell
Get a quick overview of the Miami Beach Condo Market
(From Dade Blvd to 88th Street)
See the quarter 2, 2015 update
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 3 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– Q1 2015
More Miami Beach Condos were for sale in Q1 2015 than in the last quarter of 2014, while less Miami Beach condos were sold. For this reason the months of Inventory rose to levels between 15 and 17 months in all price ranges. While Miami Beach condos were experiencing a sellers to neutral market in Q4 2014, the new year is indicating more of a buyers market. This movement was also noticeable in the average sales price per Sq.Ft which slightly decreased in Q1 2015
Stayed tuned during the next quarters to see whether the above finding are new trends!
For Sale vs Sold Condos in Miami Beach
Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image
Miami Beach Condo Market of $1M – $2M
click to enlarge
Miami Beach Condo Market of $2M+
The Months of Inventory in Miami Beach
Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image
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
Miami Beach Condo Market of $1M – $2M
click to enlarge
Miami Beach Condo Market of $2M+
The Sales Prices of condos in Miami Beach
Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image
Miami Beach Condo Market of $1M – $2M
click to enlarge
Miami Beach Condo Market of $2M+
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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