Tag Archives: South Beach condo sales

South Beach Condo Sales March 2010 – Good news !

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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

Posted via email from southbeachcondos’s posterous

November 2009 Sobe Sales Stats

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Just a quick update….

Both Oct and Nov showed 72 sales (each) for South Beach condos. Inventory levels have declined slightly from 1754 unit to 1723 units resulting in just under 24 months of unsold inventory so far. While that is still not great news compared to 6 months inventory that are considered to reflect a “balanced” market, it is much better than just 1 year ago when the inventory was at approximately 50 months.

Most indicators remained pretty steady for the past several months, with the only change being that the average list and average sales prices keep declining.

This however does not mean that prices are still declining, but rather that more of the lower end (read: cheaper) inventory gets sold, while luxury condos are finally feeling the pain.