Tag: Miami Beach Real Estate

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Buying Luxury Real Estate Selling

Which Florida Cities Will Rank As Most Expensive in 2009?

Last year, Forbes’ 500 most expensive zip codes list included 11 in Florida, including the number 1 most expensive zip, 33109 in Miami Beach, with a median sales price of $3,850,000!  Miami Beach also ranked #369 with zip code 33154 which had a median home price of $745,900.  The list was based on sales between July of 2007 and June 2008, so it will be interesting to see what changes this year’s list holds for Florida cities.  Stay tuned, the list should be out in the next couple of months and I will post the results with a more detailed analysis.

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Market Summary Miami Beach Neighborhood News

Miami Beach, Florida Real Estate Update January 2009

Single Family Homes

  • Total single family sales in January 2009: 4
  • Highest Sales Price: $825,000 for a 2,514 square foot home built in 1936 on a 7,700 square foot lot
  • Lowest Sales Price: $413,126 for a 1,776 square foot duplex on a 8,580 square foot lot.
  • 1 of the sales was a water front property

Pending Sales: 33 total, 9 of which are water front

Active: 467 of which 209 are water front

Price Range for Active:  Non-Water: $9,950,000 – $174,900  Water front: $25,000,000 – $499,900

Condos – Closed Sales

  • Total condos sales in January 2009: 83
  • Highest Sales Price: $7,600,000 for a  4,784 square foot unit in the Murano Portofino
  • Lowest Sales Price: $37,700 for a 701 square foot bank-owned foreclosure
  • 60 of the sales were in water front buildings

Pending Sales: 312 total, 196 of which are in water front buildings.

Active: 3,661 of which 2,584 are in water front buildings

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Market Summary Miami Beach

Miami Beach, Florida Annual Real Estate Update for 2008

Single Family Homes

  • Total single family sales in 2008: 116
  • Highest Sales Price: $13,100,000 for a 10,000 square foot home built in 1936 on a 32,000 square foot waterfront lot
  • Lowest Sales Price: $200,000 for a 1,261 square foot duplex on a 2,499 square foot lot.  Bank-owned foreclosure.
  • 54 of the sales were water front properties

Condos

  • Total condos sales in 2008: 1,303
  • Highest Sales Price: $12,360,000 for a  8,900 square foot unit on Fisher Island
  • Lowest Sales Price: $39,000 for a 711 square foot bank-owned foreclosure
  • 914 of the sales were in water front buildings