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THE WAVERLY SOUTH BEACH REPORT | 2018 CONDO SALES

Waverly condo sales updated January 16, 2019

1 bedroom sales: Waverly 2018

Condos Sold:6
Price range:$300,000 - $419,000
Avg Price:$340,333
Avg Price /sq ft:$426

2 bedroom sales: Waverly 2018

Condos Sold:11
Price range:$475,000 - $900,000
Avg Price:$668,636
Avg Price /sq ft:$539

How much is your Waverly condo worth?Contact Ana for a free valuation.

    Best Deal In The Building & West Avenue

    WAVERLY #711 - $425,000 | $392 / SF
    Best PRICE and best VALUE for a two bedroom at the Waverly South Beach. The only two bedroom under $450K, this split 2 bed / 2 bath layout is centered around a bright and spacious living area that opens up to a large balcony. Protected open views. The property can be enjoyed immediately or renovated.

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    Waverly Two Bedroom Transactions - Historic TrendsCharted annually. 2018 is through July 31st.

    Waverly South Beach two bedroom average prices. Click to enlarge.
    Waverly South Beach | Two Bedroom Condo Average Prices | Analytics Miami
    Source: Miami MLS.
    Waverly South Beach two bedroom average price / square foot. Click to enlarge.
    Waverly South Beach | Two Bedroom Condo Average Price per Square Foot | Analytics Miami
    Source: Miami MLS.
    Waverly South Beach two bedroom sales volume.
    Waverly South Beach | Two Bedroom Condo Sales Volume | Analytics Miami
    Source: Miami MLS.

    Waverly One Bedroom Transactions - Historic TrendsCharted annually. 2018 is through July 31st.

    Waverly South Beach one bedroom average prices. Click to enlarge.
    Waverly South Beach | One Bedroom Condo Average Prices | Analytics Miami
    Source: Miami MLS.
    Waverly South Beach one bedroom average price / square foot. Click to enlarge.
    Waverly South Beach | One Bedroom Condo Average Price per Square Foot | Analytics Miami
    Source: Miami MLS.
    Waverly South Beach one bedroom sales volume.
    Waverly South Beach | One Bedroom Condo Sales Volume | Analytics Miami
    Source: Miami MLS.

    Ana's Tip: Keep an Eye on Macro Indicators

    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

    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.

    Relevant posts
    http://analytics.miami/2018/04/17/miami-condo-bubble-the-cash-buyer-is-disappearing/
    http://analytics.miami/2018/01/26/special-real-estate-report-miami-condo-inventory/

    Miami Beach Condos, $1M+ annual sales volume. Charted through 2017.
    Miami Beach Condo Market: Loss of Cash Buyers | Sales Volume | Analytics Miami
    Source: Miami MLS.
    Miami Beach Condos $500K-$999K, months of inventory / absorption rate. Charted monthly.
    Source: Miami MLS.

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