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The Miami Beach Real Estate Report | Homes for sale in Miami Beach
Miami Beach is probably Miami's best known neighborhood. The beaches, nightlife and restaurants are what everyone thinks about when Miami is mentioned. Miami Beach however is more than just beaches .For this real estate report we analyze Miami Beach as the area North of Dade Blvd (Just south of the Miami Beach Golf Club) all the way up North to 88th street where it borders with Surfside.
South Beach is the most southern part of Miami Beach. While South Beach and South of Fifth are known for its glamorous lifestyle and nightlife, many parts of Miami Beach are more private and tranquil and cater to the single-family market. Miami Beach, FL is known for its many luxurious waterfront homes. High-end homes are located around the La Gorce Golf course, the Indian Creek Country club and waterfront streets like North Bay Road and Pine tree Drive. The many gated communities and waterfront lots make Miami Beach perfect for boaters or buyers that are looking for a more private and high-end lifestyle. Other luxurious Miami Beach properties can be found on the exclusive and private islands of Star Island, Palm Island, Hibiscus Island or the Venetian Islands, which are all in the area we cover as South Beach.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width="1/6"][/vc_column][vc_column width="2/3"][vc_single_image image="20632" img_size="600x400"][/vc_column][vc_column width="1/6"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The Miami Beach Real Estate Report – Inventory levels in 2015 – 2016
Inventory levels of Miami Beach real estate experienced a well-balanced market for the $500K - $1M price range. As Miami Beach is a desired market with high prices, the lower-end of the market is in demand with buyers who want to be close to the action yet cannot afford the luxury products near the water or in gated communities. The markets above $1M show a clear buyer's market Rule of Thumb- Below 6 months of inventory: More demand than supply, creating a seller’s market
- Between 6 and 9 months of inventory: A neutral market with a balanced relation between supply and demand
- More than 9 months of inventory: More supply than demand, creating a buyer’s market
Miami Beach Real Estate Report | The Average Sales Prices per Sq.Ft for the different price ranges
Below you can see what homes of different price ranges are selling for per Sq.Ft. Miami Beach price levels remained stable for all price ranges although the markets below $2M saw a slight increase, and the luxury market experienced a slight decrease. This is in line with what we experience in today's market; property prices don't see extremely high levels anymore and only the more modestly priced properties are selling.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width="1/6"][/vc_column][vc_column width="2/3"][vc_single_image image="20629" img_size="600x400"][/vc_column][vc_column width="1/6"][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Miami Beach Real Estate Report – The Average Sales Prices per Sq.Ft over the last 4 years Looking at the general growth of the market over the last years (made easier for the eye with the help of trend lines*) we see increasing prices in Miami Beach. Property prices between $500K and $1M increased by 25% from the low $300s to the higher $300s at approximately $375. Properties in the $1 – $2M range increased from $400 to $550 per Sq.Ft which is a 37.5% increase. The ultra-luxury segment saw a 35% increase in prices from $775 to $1,050 per Sq.Ft. *Especially in the luxury segment of the market prices might differentiate substantially from month to months due to limited sales or a sporadic sale of a property with features that are driving prices up (eg a private beach). Using automatically generated trend lines offers the reader a better idea of where the market is heading.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column width="1/6"][/vc_column][vc_column width="2/3"][vc_single_image image="20630" img_size="full"][/vc_column][vc_column width="1/6"][/vc_column][/vc_row][vc_row][vc_column width="1/6"][/vc_column][vc_column width="2/3"][vc_cta h2=""]Interesting Links and Related Miami Beach Real Estate News
The Miami Beach Neighborhood Blog The Miami Beach Real Estate Reports Miami Beach Neighborhood News Miami Beach – A Top 10 Selection of properties The Coconut Grove Real Estate Report 2016 The Coral Gables Real Estate Report 2016 The Pinecrest Real Estate Report 2016
[/vc_cta][/vc_column][vc_column width="1/6"][/vc_column][/vc_row]Read More Here: The Miami Beach Real Estate Report and Market Analysis July 2016
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