Miami Beach Condo Sales & Trends – 2011 Year In Review
by AshtonColeman on December 28th, 2011., under Buyers of South Florida, Condos and Development, Miami Beach Condos
Buyers of South Florida, Condos and Development, Miami Beach Condos | Tags: condo inventory, Miami Beach Condo, Miami Beach Condo Sales, Miami Beach Condo Trends, Miami Beach Real Estate, Sunny Isles Beach
Hello friends and only 5 days until 2012! As KT would say, I am a ‘Realtor first and a blogger second’ so please forgive the delay in posting new local information. What we’re reviewing below is the Miami Beach condo sales & trends for 2011 compared to prior years. I plan on doing an updated Sunny Isles Beach condo index soon so stay tuned!
Miami Beach Condo Sales vs. Selling Price Per Square Foot (SP$/SF):
- 2011 – 4,067 Sold at $315 SP/SF (UP 10% YTD)
- 2010 – 3,220 Sold at $282 SP/SF (Down 3% YTD)
- 2009 – 2,515 Sold at $290 SP/SF (Down 30% YTD)
- 2008 – 2,100 Sold at $415 SP/SF (Down 7% YTD)
- 2007 – 1,922 Sold at $448 SP/SF
Available condo inventory today rests at 2,819 with 248 sales last month for an 11 month supply.
All figures derived from the South Florida MLS (Multiple Listing Service) including Miami Beach, South Beach, Bal Harbour, North Bay Village and Sunny Isles Beach.