This morning I ran the latest South Beach condo market statistics and I’m very happy to share
the great news with all of you !
Compared to February 2010, prices and amount of available units remained mostly unchanged, however
sales and pendings are a different story.
Sales of South Beach condos jumped from 61 sold unit in Feb 2010 to 102 sold units March 2010.
This is an increase of 67%
Pending sales have jumped from 110 units to 130 units for an 18% increase
Other noteworthy statistics:
Bank owned properties decreased by 27% from 33 to 24 units
Inventory decreased by 40% from 27 – 16 months. Of course this is largely influenced by the increased
amount of sold units in March.
All of this is indeed great news. I will monitor the statistics over the coming months to see if March was just an outlier
or if this is a new trend starting right now.
For more statistics and other news on the South Beach Condo Market, please check out my BLOG