As of November 4, 2010 there are 1468 condominiums and 380 single family homes for sale in the Miami Beach, 33139, 33140 and 33141 zip codes.*
Of these 3% are bank owned properties and 14% are short sales.
The lowest priced property currently on the market is a 295 sq foot hotel unit at The All Seasons Hotel on 3621 Collins Avenue for $42,000.
The highest priced condominium unit for sale is a 3 bedroom, 2.5 bathroom, penthouse suite at The Setai, 101 20th Street, with 6,209 square feet listed for $27,000,000. A 7 bedroom, 8 bathroom single family home at 5800 North Bay Road is listed for sale at $29,000,000.
The year so far: January 2010 – November 2010; has seen the sale of 916 condominium units in the Miami Beach region. This is a 24% increase on the 740 condominium units that sold in Miami Beach during the same period last year. There has been a 13% increase in the number of single family homes sold this year over the same period last year, with 171 closed sales.
A bank owned studio at 818 Pennsylvania Avenue sold in September for $31,500. A 10 bedroom, 12 bathroom waterfront estate at 88 La Gorce Island sold for $16,000,000 after 287 days on the market and an original list price of $19,500,000. Of all condominium sales in Miami Beach, the median sales price is $269 per square foot with an average listing period of 84 days. For single family homes the median selling price this year is $284 per square foot with 120 days on the market.
*All numbers and data in this report are pulled from the MLS (multiple listing service) and do not include sales directly by owner.
Report produced by Kelly Charles of Gary Hennes Realtors.
786 469 9594. contact@kellycharles.com
Tuesday, November 9, 2010
Thursday, August 5, 2010
Miami Beach Market Activity - July 2010
Created by Kelly Charles with Gary Hennes Realtors. 786 469 9594.
As of August 3rd, 2010 there are 2925 condos and 379 homes for sale* in the Miami Beach region (zip codes 33139, 33140, 33141).
Current condominium listings range from $50,000 to $27,000,000.
Current single family homes for sale are priced from $135,000 to $29,000,000.
Closed Condominium Sales
164* Condominiums/Co-operatives sold in July 2010 at an average of $279 per square foot. Sales prices ranged from $170,000 to $5.35m. The average number of days on the market for condominiums was 142.
This demonstrates a 3% increase in the number of condos that sold, a reduction in the number of days on the market from 153 and a decline from a sales price of $301 per square foot, indicating that condominium prices are moving closer in line to realistic selling prices.
Buildings that saw the most activity in July were:
‘5600 Condo’ located at 5600 Collins Avenue. This is a 288 unit condominium built in 1967. This year there have been 19 sales at an average of $211 per square foot. In July alone there were 4 sales in this building from $156,500 (bank owned) to $410,000 for a completely renovated 2 bed, 2 bath with panoramic views.
‘The Floridian’ located at 650 West Avenue. Built in 1997 with 335 units this is a luxury building equipped with 2 gyms, a fitness center, Jacuzzi, tennis courts, 2 bay front pools a mini mart and business center along with 24/7 security and valet. This year there have been 30 sales, with 4 in July, at an average of $344 per square foot. Sales prices in July 2010 ranged from $180,000 for a 1 bedroom, 1 bathroom to $500,000 for a 3 bedroom, 2 bathroom short sale unit.
Closed Single Family Home Sales
18 Single family homes sold in July 2010 at an average of $292 per square foot, the lowest sale price being $350,000 – a two bed, two bath short sale home, located on the Normandy Golf Course. A 3 bed, 3 bath home sold on The Venetian islands for $1.9m. The average number of days on the market for homes sold in July 2010 was higher at 206 days.
This is a decline in the number of homes sold in July last year of 28%, a rise in price per square foot from $284 and a corresponding increase in the average number of days on the market from 160 days.
*These figures are taken directly from the Multiple Listings Service (MLS) and indicate listings through a REALTOR. They do not include properties for sale/sold directly by owner.
As of August 3rd, 2010 there are 2925 condos and 379 homes for sale* in the Miami Beach region (zip codes 33139, 33140, 33141).
Current condominium listings range from $50,000 to $27,000,000.
Current single family homes for sale are priced from $135,000 to $29,000,000.
Closed Condominium Sales
164* Condominiums/Co-operatives sold in July 2010 at an average of $279 per square foot. Sales prices ranged from $170,000 to $5.35m. The average number of days on the market for condominiums was 142.
This demonstrates a 3% increase in the number of condos that sold, a reduction in the number of days on the market from 153 and a decline from a sales price of $301 per square foot, indicating that condominium prices are moving closer in line to realistic selling prices.
Buildings that saw the most activity in July were:
‘5600 Condo’ located at 5600 Collins Avenue. This is a 288 unit condominium built in 1967. This year there have been 19 sales at an average of $211 per square foot. In July alone there were 4 sales in this building from $156,500 (bank owned) to $410,000 for a completely renovated 2 bed, 2 bath with panoramic views.
‘The Floridian’ located at 650 West Avenue. Built in 1997 with 335 units this is a luxury building equipped with 2 gyms, a fitness center, Jacuzzi, tennis courts, 2 bay front pools a mini mart and business center along with 24/7 security and valet. This year there have been 30 sales, with 4 in July, at an average of $344 per square foot. Sales prices in July 2010 ranged from $180,000 for a 1 bedroom, 1 bathroom to $500,000 for a 3 bedroom, 2 bathroom short sale unit.
Closed Single Family Home Sales
18 Single family homes sold in July 2010 at an average of $292 per square foot, the lowest sale price being $350,000 – a two bed, two bath short sale home, located on the Normandy Golf Course. A 3 bed, 3 bath home sold on The Venetian islands for $1.9m. The average number of days on the market for homes sold in July 2010 was higher at 206 days.
This is a decline in the number of homes sold in July last year of 28%, a rise in price per square foot from $284 and a corresponding increase in the average number of days on the market from 160 days.
*These figures are taken directly from the Multiple Listings Service (MLS) and indicate listings through a REALTOR. They do not include properties for sale/sold directly by owner.
Monday, July 19, 2010
Monday, June 28, 2010
Miami Condo Sales Still Rising
From Miami Today: June 24, 2010
"May condo sales in Miami-Dade rose 70% and single family homes 22% in comparison to the same period last year, according to a report release Tuesday. Sales in the local housing market have increased each of the past 22 months, a sign of stabilization for South Florida's badly-hit housing market. Statewide, sales increased 40% for condos and 18% for homes in May, both below Miami-Dade's growth figures, said the Realtor Association of Greater Miami and the Beaches and the Southeast Florida Multiple Listing Service. "The median sales price for single-family homes has risen for two consecutive months and average sales prices for both condominium and single-family homes have risen over the last few months, another sign that cements the local market's strengthening," said Terri Bersach, the realtor association's chair. The median sales price for homes ascended 1% to $196,700, while the median sales price for condos fell 3% to $126,100 last month. With more sales closing, residential inventory has dropped 19.3% from 30,361 to 24,721 since May 2009, the report says. And the number of days a property stays on the market fell 7.4% for homes, though it climbed 2.4% for condos."
Kelly Charles,
Realtor 786 469 9594 begin_of_the_skype_highlighting 786 469 9594 end_of_the_skype_highlighting
www.kellycharles.com
"May condo sales in Miami-Dade rose 70% and single family homes 22% in comparison to the same period last year, according to a report release Tuesday. Sales in the local housing market have increased each of the past 22 months, a sign of stabilization for South Florida's badly-hit housing market. Statewide, sales increased 40% for condos and 18% for homes in May, both below Miami-Dade's growth figures, said the Realtor Association of Greater Miami and the Beaches and the Southeast Florida Multiple Listing Service. "The median sales price for single-family homes has risen for two consecutive months and average sales prices for both condominium and single-family homes have risen over the last few months, another sign that cements the local market's strengthening," said Terri Bersach, the realtor association's chair. The median sales price for homes ascended 1% to $196,700, while the median sales price for condos fell 3% to $126,100 last month. With more sales closing, residential inventory has dropped 19.3% from 30,361 to 24,721 since May 2009, the report says. And the number of days a property stays on the market fell 7.4% for homes, though it climbed 2.4% for condos."
Kelly Charles,
Realtor 786 469 9594 begin_of_the_skype_highlighting 786 469 9594 end_of_the_skype_highlighting
www.kellycharles.com
Monday, June 7, 2010
Saturday, June 5, 2010
Thursday, June 3, 2010
Saturday, May 22, 2010
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