South of Fifth Condo Analysis – Get the insights into the South of Fifth Condo market
The South of Fifth Condo Analysis
What are the average prices and what is you dollar worth in South of Fifth?
This blog explains the South of Fifth Luxury Condo Market. The South of Fifth Condo Market is very unique in the sense that there is a high demand for this unique lifestyle.
There is a huge difference in living South or North of 5th Street. Although the entire South Beach area is a playground for the rich and fabulous, living South of Fifth…is just a little better. As small as this area is, it is home to some of Miami’s swankiest condos, restaurants and bars. It is the place where everyone wants to be and what everyone wants to be associated with. Needless to say, the demand for luxury condos in this area is high and investors are motivated to pay top money for it (see below). Given its unique characteristics it has been performing like no other market but we can see some signs of an adjusting market.
This blog will provide you with average sales prices and average sales prices per Sq.Ft for the most sought-after condos in what is one of Miami’s most exclusive areas. We also show you the inventory levels in South of Fifth.
The South of Fifth Condo Analysis: The South of Fifth Condo prices – Then and Now
The average sales prices (per Sq.Ft) in the last years are given here for several South of Fifth condos
The South of Fifth Condo Analysis: The Months of Inventory in South of Fifth
The levels of inventory are a very important indicator in real estate. It forecasts how long it will approximately take to sell all current listings (if no new listings enter the market) based on sales numbers in past years.
Within South of Fifth, we see an increasing trend line in the inventory levels across all price ranges. This is a good sign for buyers but an alarming sign for sellers.
- 6 months of inventory or less: Seller’s market (Fewer listings than the demand requires)
- 6 – 9 months of inventory: neutral Market
- 9 Months of Inventory or more: Buyers Market (More listings than the demand is willing to absorb)
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