LINCOLN WEST (Miami Beach) Market Data (Jan. - June 2009)

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Services for Real Estate Pros

Miami Beach’s LINCOLN WEST neighborhood is bordered by 17th Street (Venetian Causeway) to the North, 14th Street to the South, Alton Road to the East and the Bay of Biscayne to the West. An enclave for locals and part-timers seeking a quiet retreat, the neighborhood offers many housing options with varying community lifestyles and amenities.

Residents enjoy both the stunning views of the BAY OF BISCAYNE and DOWNTOWN MIAMI SKYLINE and the convenience of being located a few short blocks from the bustle of LINCOLN ROAD shopping, dining and entertainment. From the ultra luxurious CAPRI, to the vibrant FLAMINGO SOUTH BEACH to the more modest mid-rise condominiums, homebuyers are sure to find a place to call home that fits both their lifestyle and their budget.

Following are sales statistics for the LINCOLN WEST neighborhood for the first half of 2009:

29 units sold between January 1st and June 30th 2009.

14 (45%) of the total units sold were distressed properties (short sales and bank-owned foreclosures).

On average, units sold within 10% of their list price after an average of 127 days on market.

ALL INVENTORY

Average List Price: $289,353.45 / $306.90/sf.

Average Sold Price: $254,113.83 / $269.65/sf.

% Difference: 10.8%

Average Days on Mkt.: 127

CONVENTIONAL INVENTORY

Average List Price: $303,553.06 / $316.40/sf.

Average Sold Price: $263,743.75 / $276.55/sf.

% Difference: 13%

Average Days on Mkt: 95

DISTRESSED INVENTORY

Average List Price: $271,877.00 / $295.20/sf.

Average Sold Price: $242,261.62 / $261.16/sf.

% Difference: 11%

Average Days on Mkt.: 144

 

Interested in buying, selling or renting in the LINCOLN WEST neighborhood? Call me at 305.851.5910. For over 16 years I’ve helped people prosper through real estate, I’d love to help you too!

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