Miami Beach Property Market Report for Quarter 1, January 1st-March 31st 2011

Currently there are a total of 2732 active listings in the MLS (multiple listings service) in the Miami Beach region. This includes condominiums and single family homes.

Of these 14% (380) are listed as short sales and 2.4% (66) are ‘REO’ or bank owned.
There have been 730 reported closed sales in the MLS for the first quarter of 2011. This is a 20% increase over the 608 reported sales for the same period last year.

Comparison of Number of Homes and Condominiums sold during Quarter 1 of 2011 v 2010, By Location

Comparison of Median Selling Price per Square Foot ($) during Quarter 1 of 2011 v 2010, By Location


*All numbers and data in this report are pulled from the MLS (multiple listing service) and do not include sales directly by owner.

For further information on the property market or if you are interested in buying or selling, contact Kelly for assistance.

Enjoy the Classic Miami Experience in the Van Ness Building!

Think Miami and you probably think Art Deco. Or if you don’t think Art Deco, you probably think Ocean Drive, or maybe even South Beach itself. But Art Deco, Ocean Drive and South Beach just yards away, this new condo listing is just pure Miami class!

One of just 33 apartments in the beautifully maintained Van Ness building on Ocean and 14th street is yours to buy!

There was a time when this classic apartment building stood alone on Ocean Drive, archives from the University of Miami show how it was once just beach, palm trees and the Van Ness Hotel on Ocean Drive. It was a true icon of luxury when it was built in 1931 and it definitely remains one now, with its beautifully preserved Art Deco character and large heated pool. Ocean Drive has evolved into a classy neighbourhood full of sophisticated bars and restaurants and Versace’s mansion is just a couple of blocks away. This really is the definition of glamorous living!

The apartment for sale is a cute fully furnished one bedroom unit, your prefect, ready-to-go beach pad! Listed at $229,000.

This truly is a special opportunity! Contact Kelly to arrange to see this rarely available piece of Miami glamour!

Celebrate next St. Patrick’s Day in County Miami!

If you are considering a move from Ireland to the US, why not come to County Miami? Miami may not be known for its Irish population, but it has everything that a self-respecting Irish person needs to enjoy St. Patrick’s Day and beyond! And it’s a million miles from the wet weather and economic gloom of the Emerald Isle.

You won’t need to abandon your jig practice to start with. The Breffni Academy of Irish Dancing in North Miami trains dancers of all ages and levels for feises all over the world.

If you enjoy the Cheltenham Festival, have no fear, there are plenty of dog and horse racing events at courses close to Miami, perfect for the cheeky flutter! Golfers are also exceptionally well catered for. There are 1,261 courses in Florida – that’s more than four times the number in the whole of Ireland (300).

Don’t worry about missing the soccer, 6 nations or the Gaelic Games either – subscription services can bring them right to your home. Or you can go to one of the Irish bars in South Beach – Waxy O’Connor’s, Finnegan’s and The Playwright regularly show European sports. There are occasional Irish Traditional music sessions at Waxy’s in Brickell also.

Just like any decent town back in Ireland, you’ll find a Catholic church not too far from the pub. There is a massive Latin population in Miami, so if you fancy something a bit different for St. Patrick’s Day, how about going to Mass in Spanish!

For a more traditional St. Patrick Day’s celebration, there is an annual Irish Festival in Coral Gables, which features Irish music, crafts, dancing and a drop of the black stuff. And of course, a few more Guinnesses can be found in Miami’s Irish Bars afterwards.

Property investment was one of the big pastimes in Ireland until a couple of years ago. If you invest here in Miami , you could come back after a few jigs to a fabulous condo looking back towards the Emerald Isle. You’ll find beautiful ocean views in The Blue Diamond or The Green Diamond. A couple of sea front condos. It’s only 4,014 miles to Mizen Head, Co Cork!

So, go on, go on, go on, go on, go on... Make your lucky leap in the capable hands of Kelly Charles, the specialist in Miami real estate for overseas investors. Spend next Paddy’s Day in the sunshine with a few more freckles! Sláinte!

Winter Music Conference 2011

It’s a great week to glam up and party hard in Miami! Winter Music Conference is here! The WMC was established in 1985, bringing together the best house and electronic music DJs. There are parties everywhere, on beaches, by pools, in normally vacant hotel lobbies. Even stores are hiring DJs to spin discs to cater for the massive influx of party people for the weekend. Last year 100,000 people attended the event.

The party people certainly go about town in style. Bentleys, Ferraris and Hummers liberally sprinkle the main drags of Washington Ave and Collins Ave and girls walk around town on skyscraper shoes so high they need planning permission.
Designer shoes are not the only glamorous skyscrapers in Miami right now, there are plenty of luxe pads with spectacular views for a superstar DJ or clubber to throw the perfect party either before or after a hard night in the club. It could be your very own private rooftop pool at The W or the more affordable, always fun Roney Palace.

Picking the coolest club is a tough challenge for a WMC attendee, with over 400 events going on. The biggest nights promise to be in Downtown Miami at Club Space, at the Pool Bar at the Shelbourne in the Art Deco District and at the now legendary Nikki Beach, right on the beach close to South Pointe. But with DJ delegates representing music from Industrial German Techno to Latino House and everything in between, if electronic music your thing, you’ll find your heaven at the Miami Winter Music Conference!

Miami Beach Market Report, November 2010

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

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.

For Rent: 1BR/1BA Apartment in Miami Beach, FL, $1,300/month

For Rent: 1BR/1BA Apartment in Miami Beach, FL, $1,300/month