Miami Beach Real Estate Market Activity For The 1st Quarter Of 2015

What does 2015 have in store for the Miami Beach real estate market? Is 2015 a good time to buy or sell a Miami Beach condo or a Miami Beach single-family home? Is it still a good time to buy or sell Miami Beach real estate? These are the questions we receive every day, and they are important questions to buyers and sellers.

Maybe you have to sell because you are moving to another state or you want to buy because you need more space. Life usually takes precedence over market statistics, but buyers and sellers never want to buy or sell in a market where they don’t feel like they have an “advantage”. Unfortunately, that’s not always easy to do or predict. However, with a good grasp on the market we can always give you the best advice on buying or selling at this current time.

Now, let’s move on to the Miami Beach real estate market activity.

Below are two tables comparing the activities for the first quarter of 2015, the last quarter of 2014 and the first quarter of 2014. The first table shows the Miami Beach condo activity and the second Miami Beach single-family activity.

These tables represent the numbers for the entire Miami Beach neighborhood. It is important to note that the data is generated from our local MLS database. If there are any pre-construction properties, the bulk would not be displayed with these results as the developers don’t usually post the fully closed data in the MLS. Although they will eventually be published in the local tax records. These numbers will change based on different areas of Miami Beach, for instance waterfront homes, direct ocean front condos and pre-construction properties.

Miami Beach Market Condos:

Single -family homes sales are down 7% from the 1st quarter of year 2015 in comparison to the 1st quarter of 2014. The average sales price also declined from around 21%, but the average sales price per square foot is about the same. The median sales price increased from $1,340,000 to $1,505,000.

There are currently 318 active single family homes on the market and 64 under contract. This year will be interesting too as there are new listings on the market with price tags like $74 million at over $7600 per square foot.

See what single-family homes are available for sale in Miami Beach today

The compilation of listing and market data information is provided by our local MLS system Miami Association of REALTOR(R) ®s and other closed tax data provided by use from our local MLS resources. All information provided is deemed reliable but is not guaranteed and should be independently verified. I am human and errors can occur, if you note something off, let me know so I can check into it.