Neighborhood Economics for South Beach Condos – Quarter 1 2015
The South Beach Condo Market in a Nutshell
Get a quick overview of the South Beach Condo Market
(South Beach Condos South of Dade Blvd and the venetian Islands
Zip Code 33139)
See the Quarter 2, 2015 update
The South Beach Condo Market in a Nutshell – Read our quarterly report here with all the key market data to be quickly updated on the South Beach Condo Market
The Quarterly Update on South Beach Homes
The Quarterly Update on Miami Beach Condos
The neighborhood economics blogs are excellent to gather a pulse on the South Beach Condo Market as we provide the market’s key indicators. This blog focuses on the last 3 months of South Beach Real Estate Data and is updated every quarter. All Data are derived from the MLS South Florida
Data are given for South Beach Condos in the price ranges of:
- $750,000 – $1,5M
- $1,5M – $3M
- $3M +
Summary of the South Beach Condo Market– Q1 2015
Although Miami Beach experienced an increase in the amount of condos for sale, the market perfectly absorbed this by a growing demand for Miami Beach Condos. Overall we saw a decrease in the level of inventory for Miami Beach condos in the price range of $3M or less, which is a promising sign for sellers. For the $3M+ market the inventory levels increased slightly compared to Q4 2014, although the months of inventory came down to 18 months in March 2015.
This first quarter showed a small decrease in average sales prices per Sq.Ft across all price ranges
Stayed tuned during the next quarters to see whether the above finding are new trends!
For Sale vs Sold Condos in South Beach
Largest image is provided for the price range of $750,000 – $1,5M. For the other price ranges please click on the thumbnail image
South Beach Condo Market of $1,5 – $3M
click to enlarge
South Beach Condo Market of $3M+
The Months of Inventory in South Beach
Largest image is provided for the price range of $750,000 – $1,5M. 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
South Beach Condo Market of $1,5 – $3M
click to enlarge
South Beach Condo Market of $3M+
The Sales Prices of condos in South Beach
Largest image is provided for the price range of $750,000 – $1,5M. For the other price ranges please click on the thumbnail image
South Beach Condo Market of $1,5 – $3M
click to enlarge
South Beach Condo Market of $3M+
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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