Condominium Market Update – March 2020Neighborhood Comparison We have yet to see more data in the upcoming months to quantify the effect of Covid-19 on local real estate. The initial data from online platforms indicate a surge in demand for real estate in the U.S. This will likely wear off though as we continue to…
Condominium Market Update – January 2020Neighborhood Comparison Inventory levels continue to decline across all markets compared to the previous month. Edgewater once again decreased its inventory level by almost 2 months from December 2019 and by almost 11 months from a year ago. Significant inventory level drops also took place in South Beach and Sunny Isles Beach where time…
CondominiumNeighborhood Comparison Data Source: SEF MLS, December 27, 2019 As the year-end approaches, many unsold listings are expiring compressing the inventory levels. Most of the surveyed markets have their inventory levels lower compared to not only the last month but also a year ago. The sole exception is Aventura, where the inventory level increased by 3.0% to 20.4 months…
AirBnb & Unfurnished Rentals GRMNeighborhood Comparison The table above originally included in our June Monthly Report has been updated with the latest data from MLS and AirDNA. We sorted the neighborhoods from highest to lowest premiums charged for short term furnished housing over median unfurnished rental rates. Please note that a significant section of Miami Beach prohibits short term…
Condominium Market Update – October 2019Neighborhood Comparison Data Source: SEF MLS, October 23, 2019 Most notable changes of available condominiums for sale took place in Coconut Grove where the number of available units increased by +9.4% to 233 and Edgewater where it decreased by -2.3% to 991. We show the changes of available units for…
CondominiumNeighborhood Comparison Data Source: SEF MLS, May 27, ,2019 Most notable decreases in the last 90-day sold prices have been observed in Sunny Isles and Key Biscayne. While the last 3 months of 2018 the median sold price in Sunny Isles was well over $400,000, the current median sold price dropped to $350,000. The median sold…
CondominiumNeighborhood Comparison Data Source: SEF MLS, April 22, ,2019 Number of active listings peaked around the end of last year and beginning of this year and has since dropped in all surveyed neighborhoods with the sole exception of Edgewater. Most notable decrease was in South Beach where the number of available condominiums dropped by 6.3%…
CondominiumsNeighborhood Comparison Data Source: SEF MLS, Mar. 19, ,2019 The largest increase of median sale price in 3-month trailing period year-over-year (Dec-Feb) has been observed in Coconut Grove (15.3%), followed by Key Biscayne (10.6%), and South Beach (8.9%). On the opposite side in the red is Aventura (-12.9%), Edgewater/ Midtown (6.9%), and Downtown/ Central Business…