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June 2008 Miami Beach Condo Market Report

By Michael Sahlman

Real Estate Agent with www.HomesForVIPs.com - Keller Williams Realty

July 12, 2008 05:08 PM

In June 2008 in Miami Beach, the inventory was down slightly, sales were down almost 30% and pending sales were down about 5% over the last month. Compared to a year ago, the inventory is down about 1% and sales are down about 31%.

Currently there are 3,855 condos available for sale; 106 condos sold for an average price of $662,000 and was on the market for an average of 129 days. The median price was $399,000. 160 condos went pending in June (into contract).

For more information about real estate in Miami, Miami Beach and the surrounding areas, please contact us at 786.553.0697, or email us. Visit our award winning website at www.HomesForVIPs.com. We are here to help you learn more about the different areas and to assist you in buying, selling or investing here in South Florida. As licensed Florida real estate agents, we are also certified as e-PROs, International Real Estate Specialists and Certified Distressed Property Experts.

Facts and Trends Reports - Miami Beach Condos...

Date	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08
For Sale	3895	4300	3883	3883	3838	3885	3962	4008	3880	4007	4022	4011	3890	3905	3855
Sold	130	151	155	123	101	72	59	84	56	71	67	98	125	151	106
Pended	141	149	126	104	191	134	68	85	58	96	119	129	165	169	160
Mon of Inv. on Sold	30.0	28.5	25.1	31.6	38.0	54.0	67.2	47.7	69.3	56.4	60.0	40.9	31.1	25.9	36.4
Mon of Inv. on Pended	27.6	28.9	30.8	37.3	20.1	29.0	58.3	47.2	66.9	41.7	33.8	31.1	23.6	23.1	24.1
Avg. Act Price	682	648	680	662	645	650	664	655	664	653	651	651	656	659	660
Avg. Sld Price	532	626	590	668	465	690	429	511	474	560	761	601	677	646	662
Avg. Sq. Ft. Price	501.87	596.26	550.07	569.39	454.84	585.53	423.93	525.78	454.36	503.9	650.76	510.93	531.17	539.89	540.13
Sold/List Diff. %	93	94	92	91	92	83	92	91	90	89	87	92	89	89	89
Days On Market	114	130	120	142	123	121	143	145	154	172	157	136	145	134	129
Median Price	375	374	380	389	303	312	346	328	340	375	360	350	400	375	399

	This representation is based in whole or in part on data supplied by Southeast Florida Association of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.

Facts and Trends^TM
Published Jul. 2008
*Location : Muni 02*
Months of Inventory Based on Closed Sales
Price Range: $0 - No Limit
SQFT Range: 0 - No Limit
Condo/Townhomes - All Properties		Prepared for you by: Michael Sahlman, P.A.
		Prepared for you by: Michael Sahlman, P.A.

Date	4/07	5/07	6/07	7/07	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08
For Sale	3895	4300	3883	3883	3838	3885	3962	4008	3880	4007	4022	4011	3890	3905	3855
Sold	130	151	155	123	101	72	59	84	56	71	67	98	125	151	106
Pended	141	149	126	104	191	134	68	85	58	96	119	129	165	169	160
Mon of Inv. on Sold	30.0	28.5	25.1	31.6	38.0	54.0	67.2	47.7	69.3	56.4	60.0	40.9	31.1	25.9	36.4
Mon of Inv. on Pended	27.6	28.9	30.8	37.3	20.1	29.0	58.3	47.2	66.9	41.7	33.8	31.1	23.6	23.1	24.1
Avg. Act Price	682	648	680	662	645	650	664	655	664	653	651	651	656	659	660
Avg. Sld Price	532	626	590	668	465	690	429	511	474	560	761	601	677	646	662
Avg. Sq. Ft. Price	501.87	596.26	550.07	569.39	454.84	585.53	423.93	525.78	454.36	503.9	650.76	510.93	531.17	539.89	540.13
Sold/List Diff. %	93	94	92	91	92	83	92	91	90	89	87	92	89	89	89
Days On Market	114	130	120	142	123	121	143	145	154	172	157	136	145	134	129
Median Price	375	374	380	389	303	312	346	328	340	375	360	350	400	375	399

	This representation is based in whole or in part on data supplied by Southeast Florida Association of Realtors or its MLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market.