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AnalyticsMiami Miami Beach Condos: state of the market 2020

Miami Beach enters 2020 with sales volume below 2010, the continuing decline of all-cash buyers and with months of inventory hovering near highs. Transaction volume is down 37% since 2013, and 100% of that drop is due to the loss of cash buyers. Cash was king; the current cycle catered to and was driven by destination money. The average 2019 resale for a condo built post 2000 was $1.6M. If Miami Beach wants full time residents, the city needs to get ahead of this data by removing obstacles that stand in the way of price-attainable development.

AnalyticsMiami City of Miami Beach, The Missing Middle Report, February 2018

In February 2018, Ana Bozovic gave a presentation the city of Miami Beach's land use committee. The presentation is entitled "The Missing Middle." It charts long term trends in Miami Beach's population and housing stock. The results are clear: Miami Beach has added virtually no new housing stock for middle class residents and has a housing market increasingly dependent on outside money.

AnalyticsMiami Supply and Demand: Miami area condo market through Q3 2019

Supply and Demand Disconnect
Inventory has steadily risen across market segments, all while transaction volume has dropped off. Higher price points are the worst offenders. The Miami $1M+ market saw a 147% increase in supply since 2013, while sales dropped 32% in the same period.

Transaction volume below 2010
Miami Beach and Miami condo transaction volume remains below the post-recession numbers we saw in 2010. For most market segments transaction volume peaked in 2013, and has since been dropping. Recent changes to SALT deductions have not offset the volume decline.

AnalyticsMiami Special Report: Miami Condo Inventory, start of 2018

This report charts months of Miami condo inventory, going back to 2007. The charts show that the Miami condo market is at all-time high levels of inventory. Some prices points have almost twice as many months of inventory as during the last downturn.

AnalyticsMiami Long term trends, Miami-Dade condo report 2017

This report shows all key Miami condo market metrics, charted back to 2006. The data indicates that we are at various extremes in the condo market cycle. Also indicated is a clear bifurcation between locally supported and outside money dependent price segments.

Miami Beach 2020 Real Estate Report
Release at the Famous 5th St Gym

Date & Time
Saturday, Feb 1, 2020 | 7PM - 10PM
Location
5th St Gym, 1019 5th St, Miami Beach

Latest Miami Real Estate Reports & Analysis

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Q3 2019 Supply & Demand Report: Miami Condos & Miami Beach Condos

There is a fundamental disconnect between supply & demand in the Miami and Miami Beach condo markets. Inventory has steadily risen across market segments, all while transaction volume has dropped off. Higher price points are the worst offenders. The Miami $1M+ market saw a 147% increase in supply since 2013, while sales dropped 32% in the same period
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Q2 2018 Miami Beach Condos: Records $3M+ Sales, Luxury Condos at 2013 Prices

Q2 2018 saw a record number of $3M+ condo transactions in Miami Beach. After years of declining sales volume, sellers are starting to meet buyers. The oceanfront luxury condo market is starting to clear at 2013 prices, and high profile hedge fund managers are leading the way.
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Miami Beach Top 10 Condo Sales – Q1 & Q2 2018

2018 Q1 & Q2: The top 10 Miami Beach condo sales ranged from $8.7M - $26M. The second quarter saw a record number of $3M+ sales, as buyers negotiated significant discounts. The top ten sales averages a 29% discount off of their original list price and took an average of 503 days to sell. Post has interactive map and table.
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