Miami Real Estate – Single Family Homes 4th Quarter Market Update

Below is a quick snap shot of what the real estate market for single family homes looked like for the fourth quarter of 2009.  These numbers are derived from the Multiple Listing Service and though they do not include For Sale By Owners and anything not listed on the MLS, they are indicative of what is going on in our local markets.  The closed sales may be slightly underestimated due to the lag time in posting the sale in the MLS.

Coconut Grove

  • Closed Sales: 23.  5 short sales, 3 REO. None of the closings in December were Short Sales or REO.  Highest Sales Price: $2.2 million. Highest Price/Square Foot:  $437.98. Lowest Sales Price: $154,900.  Lowest Price/Square Foot: $82.97
  • Pending Sales: 22, 14 of which went pending in the fourth quarter.
  • Active Listings: 165,  down from 217 at end of Sept.   Highest List Price: $18 million. Lowest List Price: $65,900.

Coral Gables

  • Closed Sales: 101.  6 short sales, 10 REOs.   Highest Sales Price: $5.15 million.  Lowest Sales Price: $250,000.
  • Pending Sales: 74
  • Active Listings: 421, down from 450 at the end of the third quarter.  Highest List Price: $49.5 million.  Lowest List Price: $89,500

Key Biscayne

  • Closed Sales: 13.  0 short sales, 1 REO.   Highest Sales Price: $6.15 million.   Lowest Sales Price: $820,000.
  • Pending Sales: 3.
  • Active Listings: 122.   Highest List Price: $24.950 million.   Lowest List Price: $985,000.

Miami Beach

  • Closed Sales: 41.  5 short sales, 7 REOs.  Highest Sales Price: $9.75 million.  Lowest Sales Price: $240,000
  • Pending Sales: 53
  • Active Listings: 380.  Highest List Price: $29.9 million.  Lowest List Price: $181,000.

Palmetto Bay

  • Closed Sales: 42. 8 short sale, 4 REO.   Highest Sales Price: $1.45 million. Lowest Sales Price: $140,000.
  • Pending Sales: 63
  • Active Listings: 139.  Highest List Price: $2.85 million. Lowest List Price: $165,000.

Pinecrest

  • Closed Sales: 45.  4 short sale and 5 REOs.  Highest Sales Price: $3.5 million.  Lowest Sales Price: $236,000.
  • Pending Sales: 29
  • Active Listings: 199.  Highest List Price: $5.9 million. Lowest List Price: $265,000.

South Miami

  • Closed Sales: 24. 3 short sales, 9 REO.   Highest Sales Price: $870,000. Lowest Sales Price: $87,500.
  • Pending Sales: 21
  • Active Listings: 71.  Highest List Price: $1.899 million. Lowest List Price: $57,270.


About The Author

Jennifer Wollmann

Comments

Leave A Comment

Affiliates & Brokerages