Miami Sales Coastal Mainland: Report Data Brief - Not For Distribution
Miami Sales Coastal Mainland: Report Data Brief - Not For Distribution
Miami Sales Coastal Mainland: Report Data Brief - Not For Distribution
Miami Sales
Coastal Mainland
1Q 2017
analysis prepared by
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Market Share by Number of Sales
Studio 1.4% 1.6% 2.1%
1-bedroom 22.7% 21.2% 24.3%
2-bedroom 48.5% 49.7% 48.3%
3-bedroom 24.0% 24.7% 22.2%
4-bedroom 3.4% 2.7% 2.8%
5+ bedroom 0.1% 0.2% 0.3%
Non-Distressed
Median Sales Price $240,000 3.3% $232,250 0.8% $238,000
Number of Sales (Closed) 1,479 4.3% 1,418 -3.7% 1,536
Distressed
Median Sales Price $163,000 7.2% $152,000 9.4% $149,000
Number of Sales (Closed) 187 -17.6% 227 -51.7% 387
Non-Distressed
Median Sales Price $359,000 2.6% $350,000 5.9% $339,000
Number of Sales (Closed) 1,583 -1.7% 1,611 24.1% 1,276
Distressed
Median Sales Price $248,188 1.1% $245,437 6.5% $233,000
Number of Sales (Closed) 238 -16.8% 286 -38.0% 384
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Absorption Period (Mos) 45.0 -15.6% 53.3 5.6% 42.6
Entry Threshold $520,000 13.0% $460,000 -21.2% $660,000
Single Family
Average Sales Price $1,774,718 11.2% $1,596,258 -2.4% $1,817,931
Average Price Per Square Foot $433 3.6% $418 4.3% $415
Median Sales Price $1,200,000 4.3% $1,150,000 -12.8% $1,375,750
Number of Sales 183 -4.7% 192 9.6% 167
Days on Market (From Last List Date) 138 16.9% 118 22.1% 113
Listing Discount (From Last List Price) 7.7% 9.8% 7.0%
Listing Inventory (Active) 924 -15.8% 1,098 -15.9% 1,099
Absorption Period (Mos) 15.1 -12.2% 17.2 -23.4% 19.7
Entry Threshold $825,000 1.9% $810,000 -2.4% $845,000
MARKETS BY REGIONS
AVENTURA
Condos 1Q-2017 %Chg (Qtr) 4Q-2016 %Chg (Yr) 1Q-2016
Average Sales Price $417,363 18.3% $352,874 -10.3% $465,030
Average Price per Sq Ft $276 12.2% $246 -9.2% $304
Median Sales Price $318,000 10.6% $287,500 6.0% $300,000
Number of Sales (Closed) 237 15.0% 206 4.9% 226
Days on Market (From Last List Date) 130 12.1% 116 39.8% 93
Listing Discount (From Last List Price) 7.3% 7.1% 6.8%
DOWNTOWN
Condos
Average Sales Price $241,117 0.8% $239,268 9.2% $220,786
Average Price per Sq Ft $205 -1.0% $207 4.6% $196
Median Sales Price $189,375 -2.9% $195,000 12.1% $169,000
Number of Sales (Closed) 1,158 -2.4% 1,187 -3.2% 1,196
Days on Market (From Last List Date) 77 10.0% 70 6.9% 72
Listing Discount (From Last List Price) 5.1% 4.5% 4.5%
Single Family
Average Sales Price $380,971 4.5% $364,412 10.7% $343,998
Average Price per Sq Ft $196 5.9% $185 13.3% $173
Median Sales Price $325,000 2.8% $316,000 14.0% $285,000
Number of Sales (Closed) 1,544 -5.2% 1,628 9.1% 1,415
Days on Market (From Last List Date) 64 6.7% 60 -4.5% 67
Listing Discount (From Last List Price) 4.6% 4.3% 4.3%
BRICKELL
Condos
Average Sales Price $486,131 -10.8% $545,000 -4.5% $508,827
Average Price per Sq Ft $419 -5.0% $441 -8.5% $458
Median Sales Price $360,000 -10.0% $400,000 2.9% $350,000
Number of Sales (Closed) 172 15.4% 149 9.6% 157
Days on Market (From Last List Date) 144 -10.0% 160 46.9% 98
Listing Discount (From Last List Price) 7.5% 6.9% 5.1%
COCONUT GROVE
Condos
Average Sales Price $693,007 0.7% $688,296 -8.8% $759,469
Average Price per Sq Ft $408 21.1% $337 0.5% $406
Median Sales Price $587,500 11.1% $528,850 -10.8% 659,000
Number of Sales (Closed) 18 -30.8% 26 -43.8% 32
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Days on Market (From Last List Date) 173 69.6% 102 208.9% 56
Listing Discount (From Last List Price) 7.5% 7.3% 4.9%
Single Family
Average Sales Price $1,714,571 39.6% $1,228,139 14.3% $1,500,592
Average Price per Sq Ft $468 15.0% $407 1.7% $460
Median Sales Price $1,727,500 71.5% $1,007,500 25.6% $1,375,750
Number of Sales (Closed) 14 -22.2% 18 -26.3% 19
Days on Market (From Last List Date) 108 -28.9% 152 18.7% 91
Listing Discount (From Last List Price) 8.2% 12.5% 9.0%
CORAL GABLES
Condos
Average Sales Price $498,597 -2.7% $512,232 -13.8% $578,543
Average Price per Sq Ft $391 5.4% $371 -1.8% $398
Median Sales Price $345,000 0.3% $344,000 -4.2% 360,000
Number of Sales (Closed) 64 6.7% 60 -1.5% 65
Days on Market (From Last List Date) 84 5.0% 80 -13.4% 97
Listing Discount (From Last List Price) 6.0% 3.6% 9.4%
Single Family
Average Sales Price $1,485,578 12.0% $1,326,788 3.9% $1,429,699
Average Price per Sq Ft $494 1.2% $488 11.3% $444
Median Sales Price $820,000 2.5% $800,000 -13.7% $950,000
Number of Sales (Closed) 119 -4.8% 125 5.3% 113
Days on Market (From Last List Date) 99 5.3% 94 -2.9% 102
Listing Discount (From Last List Price) 7.1% 10.6% 6.2%
SOUTH MIAMI
Single Family
Average Sales Price $675,727 -7.1% $727,000 -3.4% $699,360
Average Price per Sq Ft $299 -1.0% $302 -6.6% $320
Median Sales Price $528,000 -10.4% $589,000 26.6% $417,000
Number of Sales (Closed) 23 27.8% 18 -8.0% 25
Days on Market (From Last List Date) 68 -6.8% 73 36.0% 50
Listing Discount (From Last List Price) 3.6% 4.4% 4.1%
PINECREST
Single Family
Average Sales Price $1,151,327 -1.6% $1,170,476 -11.8% $1,304,644
Average Price per Sq Ft $302 0.3% $301 -5.3% $319
Median Sales Price $845,359 -17.1% $1,020,000 -19.5% $1,050,000
Number of Sales (Closed) 42 5.0% 40 20.0% 35
Days on Market (From Last List Date) 147 34.9% 109 42.7% 103
Listing Discount (From Last List Price) 6.6% 6.5% 7.7%
PALMETTO BAY
Single Family
Average Sales Price $589,735 7.8% $547,294 7.7% $547,449
Average Price per Sq Ft $198 0.5% $197 1.5% $195
Median Sales Price $547,000 5.2% $520,000 1.3% $540,000
Number of Sales (Closed) 75 27.1% 59 41.5% 53
Days on Market (From Last List Date) 102 52.2% 67 13.3% 90
Listing Discount (From Last List Price) 6.2% 4.3% 3.7%
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