Miami Shores, FL - market conditions

By
Real Estate Agent with Majestic Properties 3061802

It is still a buyer's market here in South Florida but the market is surely picking up.  This can be evidenced by the amount of movement we are seeing with showings of our own listings and the amount of phone calls we are receiving with inquiries.   It's a new year and buyers that were holding off and waiting for a "market collapse" cannot wait any longer and are beginning to buy.

Certain price ranges are moving better than others, we grabbed all the sales in Miami Shores, Florida in the last 6 months and arranged them by price range to get an idea of which properties are moving better.  You can see by this graph that properties priced under $400,000 are selling a lot more than those above the $800,000 range.

RICK & INES - Miami Shores Real Estate

If you are a seller, you can use this graph as your "PATIENCE MOTINORING SYSTEM" - knowing that a higher priced home could take longer to sell.  If you are a buyer, know that the inventory of lower priced homes is moving quicker and waiting may mean loosing the house of your dreams.

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Here are the market conditions for Miami Shores, Florida:

Overview of the single family market in Miami Shores, FL:

  • Currently on the market:  180
  • Currently under contract:  16
  • Closed in the last 90 days: 27
  • Lowest Priced Listing:  $325,000
  • Highest Priced Listing:  $3,950,000

Overview of the condo market in Miami Shores, FL:

  • Currently on the market:  40
  • Currently under contract:  9
  • Closed in the last 90 days: 4
  • Lowest Priced Listing:  $199,000
  • Highest Priced Listing:  $610,000

Visit RICK & INES at http://www.yourpropertypros.com/ www.miamism.com for more information about Miami Shores Real Estate.

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Miami's Upper East Side - Real Estate
Tags:
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Rainer
62,624
Nick M.
Certified Residential Appraiser- West Palm Beach Real Estate - West Palm Beach, FL
Realtor-Appraiser in West Palm-South Florida Real Estate Appraiser

Hi Ines.. this looks good. :)  the market is deifnitely showing signs of 'the bottom',. some areas more than others. Any person looking for homes in your area should be calling you!!  keep the posts coming!!! :)

Feb 01, 2007 02:55 AM #1
Ambassador
587,479
Rich Jacobson
Fathom Realty West Sound - Poulsbo, WA
Your Kitsap County WA Real Estate Broker
Ines - Remember me? I really like the way you've presented your market report. You've included some comments to give it "personality" and to further establish your credibility, as well as help consumers understand the numbers. Good Job!
Feb 01, 2007 06:49 AM #2
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Nick Mississippi- Thank you for that great comment - YES, they SHOULD be calling me!  ....and don't forget Nick the appraiser!

Rich - where have you been - better yet....where have we been.  I will assume working....which is extremely positive!  I gave this market report a twist....it doesn't hurt to add different information out there for our consumers.

 

Feb 01, 2007 07:17 AM #3
Ambassador
3,980,525
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert
Ines, around here I have been doing more loans on Properties that are $300,000 and lower, and Realtors tell me that $400,000 and up is slow.  But all of the Realtors tell me that the phones are ringing and things are starting to get busy.
Feb 01, 2007 07:44 AM #4
Rainer
62,624
Nick M.
Certified Residential Appraiser- West Palm Beach Real Estate - West Palm Beach, FL
Realtor-Appraiser in West Palm-South Florida Real Estate Appraiser
Mississippi!!?!?  haha!!     very, very funny. you are so cute! that is why Rick is holding on to you so hard in that picture!! He's gripping you so he doesn't lose you!! :))))
Feb 01, 2007 08:24 AM #5
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

George - I'm sure different parts of the country are behaving differently, but it's great to get the Mortgage perspective of things.  We are definitely busy and loving it!

Nick - if you see the rest of the photo, before it was cropped, you would see that Rick IS holding to me really hard - you started the Mississippi thing with all the s's and i's.

Feb 01, 2007 08:52 AM #6
Rainmaker
340,552
Ann Cummings
RE/MAX Shoreline - NH and Maine - Portsmouth, NH
Portsmouth NH Real Estate Preferrable Agent

Ines - I like the way you did this market report - nice touch and it made it a tad bit different and YOURS.

Ann

Feb 01, 2007 11:18 AM #7
Rainer
3,594
Michael Caputo
First Coast Mortgage - Savannah, GA
nice presentation of data.
Feb 02, 2007 02:47 PM #8
Rainmaker
223,300
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

Hi Ann - I could have sworn I answered this comment - <twilight zone moment> - This was a Team effort - Rick was done preparing the graph for one of our customers and I thought it would be great to include it with the market report.

Michael - thanks for comming by - I've gotten so many great ideas to present market reports here in Active rain - just do a search for blogs tagged "market reports" and you will be in shock at the variety.  Welcome to AR by the way.

Feb 03, 2007 10:09 AM #9
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Rainmaker
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Rick & Ines - Miami Beach Real Estate

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