Neighborhood Economics for South Miami Real Estate – Quarter 1 2015
The South Miami Real Estate Market in a Nutshell
Get a quick overview of the South Miami Real Estate Market
See the quarter 2, 2015 update
The South Miami Real Estate Market in a Nutshell – Read our quarterly report here with all the key market data to be quickly updated on the South Miami Real Estate Market
The neighborhood economics blogs are excellent to gather a pulse on the South Miami Real Estate Market as we provide the market’s key indicators. This blog focuses on the last 6 months of South Miami Real Estate Data and is updated every quarter. All Data are derived from the MLS South Florida
Data are given for South Miami Homes in the price ranges of:
- $500,000 – $1M
- $1M – $2M
- $2M +
Summary of the South Miami Real Estate Market– Q1 2015
The amount of listings for sale as well as the sold properties stayed stable over the last 6 months and so did the months of inventory. The market segment of $500K – $1M homes however, saw an increase of listings but the market absorbed the supply rather quickly with an increase in sales.
Currently all South Miami markets are in a sellers market (6 Months or less of inventory), with an exception of the $2M+ market which is starting to experience a neutral market (6-9 months of inventory)
Despite being in a sellers market, the average prices per Sq.Ft saw a decline
Stayed tuned during the next quarters to see whether the above finding are new trends!
For Sale vs Sold Properties in South Miami
Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image
South Miami Real Estate Market of $1M- $2M
click to enlarge
South Miami Real Estate Market of $2M+
The Months of Inventory of South Miami Homes
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
South Miami Real Estate Market of $1M- $2M
click to enlarge
South Miami Real Estate Market of $2M+
The Sales Prices for South Miami Homes
Largest image is provided for the price range of $500,000 – $1M. For the other price ranges please click on the thumbnail image
South Miami Real Estate Market of $1M- $2M
click to enlarge
South Miami Real Estate Market of $2M+
As there were no sales in this category for the last 6 months, we are showing the listing prices
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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