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Fresh Data: Miami Beach Condo Statistics

Miami Beach Real Estate Statistics

Here are the latest statistics for the Miami Beach condo market. This graph represents three six month periods with an average price p.s.f. for each period.

Basically the price per sq. foot is steady BUT my biggest concern is that inventory JUMPED 10% from April to May. In April, in Miami Beach, there were a staggering 3895 condos on the market and compared to April of 2005 the number of condos on the market was 2808. Currently, as of May 2007, there are 4300 condos on the market.

From this graph it is apparent the ratio between sold and list price is holding steady, but the time on the market is considerably longer than the previous year.

The standoff between buyers and sellers continues. At some point, the amount of inventory and the pace at which it is being absorbed will have it's way with the $ p.s.f. SOON.

Posted by Kevin Tomlinson - Miami Beach Real Estate on 06/24/2007 11:05 PM

Comments (3)

miami beach condos, miami beach real estate, south beach condos

3 Comments on Fresh Data: Miami Beach Condo Statistics

JUN

2007

Hi Kevin,

And this knowledge is one of the many reasons why you are deservedly the King of Miami Condos!

Take care,

Tisza

JUL

2007

Hi Kevin

and how does the the # of expireds compare to Active listings? Just wondering if the DOM might not tell the whole story? we have a unit trying to sell in Akoya and just not moving no matter what!

AUG

2007

Interesting info do you think it will get better in the winter?

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