Miami Real Estate Download Special Reports
AnalyticsMiami Miami Beach Condos: state of the market 2020Miami 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 2018In 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.