South Beach Real Estate News-Recap of 2010

South Beach Real Estate News-Recap of 2010

For single family homes in South Beach, here are the 2010 statistics, newsworthy sales and listings for sale there.

In South Beach, there were 43 closed sales in 2010 of which 19 were waterfront properties. The average sale price was $1,828,797, or $468 per square foot. They sold on average for 85% of the list price in 275 days (average days on market). The highest sale was for $11,950,000 located at 55 Palm AV, which was $981 per square foot and occurred on June 16, 2010. The lowest sale was for $265,000 located at 1255 West AV, which was $174 per square foot and occurred on September 29, 2010. 15 houses in South Beach are currently in contract or pending sale.

With 96 homes currently available for sale, the absorption rate is about 27 months to sell all of the current inventory.

Right now, the least expensive home for sale in South Beach is for $425,000 located at 1311 14 TE. It has 3 bedrooms, 3 bathrooms, 1,279 square feet of living space and is located on a lot size of 5,000 square feet. It has been on the market now for 42 days. For photos of the home and a more detailed description, please visit this website page South Beach, 1311 14 TE.

Waterfront Properties on South Beach

In South Beach, there have been 19 waterfront properties that closed (sold) in 2010. The average sales price among those was $3,223,684 or $709  per square foot. Waterfront homes on South Beach sold on average for 81% of the list price in 301 days (average days on market).

With 59 waterfront homes currently available for sale, the current absorption rate is about 37 months to sell all of the current inventory.

The least expensive waterfront property for sale in South Beach is $1,300,000 and is located at 1201 N Venetian WY. It has no bedroom, no bathroom, 13,382 square feet of living space and is located on a lot size of 13,382 square feet. It has been on the market now for 186 days. For photos of the home and a more detailed description, please visit this website page South Beach, 1201 N Venetian WY.

The most expensive property for sale in South Beach is $49,995,000 and is located at 5 Star Island DR. It has 9 bedrooms, 12 bathrooms, located on a lot size of 80,000 square feet. It has been on the market now for 27 days. For photos of the most expensive homes in Miami Beach and South Beach and more information, visit Miami Beach Most Expensive Homes.

To view all of the listings available for sale in South Beach, please go to my website at “South Beach Homes for Sale”.

To search for Luxury Single Family Homes by City or Neighborhood, go to - Miami Beach Homes, South Beach Homes, Indian Creek Homes, Star Island Homes, La Gorce Island Homes, North Bay Road Homes, Palm Island Homes, Sunset Islands Homes, Venetian Islands Homes, Hibiscus Island Homes, Golden Beach Homes, Key Biscayne Homes, Gables Estates Homes, Cocoplum Homes, Belle Meade Homes, Bay Point Homes, Morningside Homes, Pinetree Drive Homes, Bay Harbor Islands Homes, Bal Harbour Homes and Miami Shores Homes.

To find other Luxury Condos by City and Category, go to any of the following – Penthouses for Sale, Boat Docks, Pet Friendly Condos, South Beach Condos, Miami Beach Condos, Sunny Isles Beach Condos, Bal Harbour Condos, Key Biscayne Condos, Fisher Island Condos, Brickell Condos, Downtown Miami Condos and Best Foreclosure Condo Buys.

For more specific information about a property or for a custom search, please contact Michael Sahlman at The Sahlman Group at 786.553.0697 or email us.

If you are thinking of selling your condo or house and want to market and sell your property worldwide to reach the right buyers quickly and effectively, please contact us directly at 786.553.0697, email us, or fill out this form to learn more aboutour global marketing strategy and receive an immediate response.

I highly recommend Habitat Design Associates, Inc. to design, renovate and oversee the overall project if you have purchased a condo or a home and need a reliable, competent and honest professional, The owner Cristina is originally from Brazil and has over 20 years of experience as an architect, interior designer and project manager. They have completed over 35 projects for a number of prominent people (including some of my clients). For more information and examples of her work Visit the Habitat Design website or contact them directly at 786.280.6200 or via email.

Please note  that the above information is based on the southeast Florida MLS data as of January 2, 2011.

Copyright © By Michael D. Sahlman, P.A. 2010* South Beach Real Estate News-Recap of 2010*