THE WAVERLY SOUTH BEACH REPORT | 2018 CONDO SALES
1 bedroom sales: Waverly 2018
|Price range:||$315,000 - $338,000|
|Avg Price /sq ft:||$405|
Waverly annual sales volume
Knowing where you are in the market cycle is the most important factor in deciding when to sell and for how much.
Miami Beach Condo Inventory Is At All-Time Highs
$500K - $999K months of inventory: 33.7
$1M - $2.99M months of inventory: 48.3
$3M+ months of inventory: 86.4
In December 2017:
11 condos sold in Miami Beach priced between $1M - $2.99M.
3 condos sold in Miami Beach for $3M+. There were 288 active listings.
The luxury condo market is still in the inventory accumulation phase, as 2017 closed out at all time highs in that regard. Inventory has to clear for pressure to come off prices. We are starting to see luxury properties sell at significant discounts off their asking prices, but the issue remains that there are so few bids past $3M and so much inventory. We will have to see how this plays out.
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