Miami Beach Real Estate: Market Summary for Single Family Homes

We are half way through the year and the market has been moving.  Sales are up, mostly due to lower prices.    As of June 30, the single family home market in Miami Beach for the year so far is as follows:

Closed sales:  94. Low of $190,000 to a high of $25,500,000.  9 of the closed sales were foreclosures, 6 were short sales.   Only 16% were distressed sales. 49 closed in the second quarter.

  • Pending sales: 57.  Low $200,000 to a high of $14,900,00. 2 of the pending sales are foreclosures, 23 are short sales.  Almost 44% distressed.  21 went pending in the second quarter.
  • Active sales: 282.  Low of $205,900,high of $49,995,000.  16 are short sales, 1 is a foreclosure. Only 6% distressed.  76 of the active sales were listed in the second quarter.

What does this mean if you are a seller?  The good news is that the majority of the closed sales are not distressed sales.  If you are priced right for a buyer’s market, you have a closing window of opportunity to sell at a higher price than you will get later this year.  I think prices of active listings are going to come down as we come closer to the end of the summer buying season.

What does this mean if you are a buyer?  Many buyers are still looking for a “deal” without realizing that they are already looking at one.  Just because a property is not a foreclosure or a short sale, does not mean it is not a good deal.  A lot of sellers have come down significantly in their pricing, in large part due to the pressure of distressed properties on the market.  As the distressed properties listed for sale decrease, they become less of a factor on the overall market.  If you are financing your property and only looking at distressed sales, you are going to have even more frustration as you are competing with cash buyers.

Note:  These numbers are going to change a bit due to fluctuations at the end of the month when a lot of properties status changes, but those changes don’t get recorded in the MLS until the following month.

About The Author

Jennifer Wollmann

Comments

  1. Erick February 17th, 2019 at 10:44:47 pm

    Schwab Intelligent Portfolios invests in Schwab ETFs.

  2. Emelia February 17th, 2019 at 8:46:36 pm

    That is true for investment advice as properly.

  3. Houston February 17th, 2019 at 3:03:29 am

    This is true for funding recommendation as effectively.

  4. Robby February 16th, 2019 at 7:27:33 pm

    Now it’s time to pick your specific investments.

  5. Nam February 16th, 2019 at 6:42:44 pm

    A monetary advisor is your planning partner.

  6. Jolene February 15th, 2019 at 11:07:45 pm

    That is true for investment recommendation as properly.

  7. Adolph February 15th, 2019 at 6:59:51 pm

    Financial advisors business is people enterprise.

  8. Caridad February 15th, 2019 at 6:42:47 pm

    Investors do pay direct and oblique prices.

  9. Christopher February 14th, 2019 at 8:13:19 pm

    And this is an funding danger value taking.

  10. Martina February 13th, 2019 at 11:43:22 pm

    Investors do pay direct and indirect prices.

  11. Kristie February 13th, 2019 at 8:09:30 pm

    A financial advisor is your planning partner.

  12. Carmella February 13th, 2019 at 7:30:12 pm

    Financial advisors enterprise is individuals
    enterprise.

  13. Ute February 13th, 2019 at 7:20:38 pm

    This is true for funding recommendation as well.

  14. Filomena February 13th, 2019 at 7:03:02 pm

    This is true for funding recommendation as effectively.

  15. Elouise February 13th, 2019 at 11:44:45 am

    This is true for funding recommendation as effectively.

  16. Leroy February 12th, 2019 at 9:02:35 pm

    And this is an funding threat price taking.

  17. Jannie February 12th, 2019 at 8:36:19 pm

    Schwab Intelligent Portfolios invests in Schwab ETFs.

  18. Erlinda February 10th, 2019 at 6:52:43 pm

    All forms of investments include certain dangers.

  19. Alma February 8th, 2019 at 8:51:10 am

    Now it is time to decide your specific investments.

  20. Leah February 8th, 2019 at 12:59:44 am

    Financial advisors enterprise is people enterprise.

  21. Mariana February 7th, 2019 at 12:06:06 am

    This is true for investment recommendation as effectively.

  22. Reuben February 5th, 2019 at 10:01:08 am

    A monetary advisor is your planning associate.

  23. Merissa February 2nd, 2019 at 1:30:03 pm

    Pretty nice post. I just stumbled upon your weblog and wished to say that I have really enjoyed browsing your blog posts.
    After all I will be subscribing to your feed and I hope
    you write again very soon!

  24. Wilbur February 2nd, 2019 at 12:52:10 pm

    I’m not that much of a internet reader to be honest but your blogs really nice, keep it up!
    I’ll go ahead and bookmark your site to come back later on. All the best

  25. Florentina February 2nd, 2019 at 6:17:04 am

    Think about investments that provide immediate annuities.

  26. brazil nuts calories February 1st, 2019 at 1:23:15 pm

    No matter if some one searches for his essential thing, so he/she wants to be available that in detail, therefore that thing is maintained over here.

  27. Abby January 31st, 2019 at 7:35:26 pm

    Buyers do pay direct and oblique costs.

  28. Daisy January 31st, 2019 at 10:02:58 am

    Hola! I’ve been following your website for a while now
    and finally got the courage to go ahead and give you a
    shout out from Kingwood Tx! Just wanted to say keep up the
    fantastic work!

  29. Caleb January 30th, 2019 at 7:47:03 pm

    Consider investments that supply speedy annuities.

  30. Leanne January 30th, 2019 at 6:52:33 pm

    Hi, i feel that i noticed you visited my weblog thus i came to go back the desire?.I’m
    trying to in finding things to improve my site!I suppose its good enough to make use of a few
    of your concepts!!

  31. hi January 28th, 2019 at 6:58:15 pm

    Interesting blog! Is your theme custom made or did you download it from somewhere?
    A theme like yours with a few simple adjustements would really make my blog stand out.
    Please let me know where you got your theme. Bless you

  32. More Help August 27th, 2018 at 4:57:08 pm

    “Great article. I’m experiencing a few of these issues as well..”

  33. Homes For Sale In Wellington July 6th, 2011 at 9:27:41 pm

    I can see that you are putting a lots of efforts into your blog. Keep posting the good work.Some really helpful information in there. Nice to see your site. Thanks!

Leave A Comment

Affiliates & Brokerages