Miami Beach Real Estate….. a Focus on 1 Bedroom Real Estate Data

By
Jamey
 – July 13, 2009Posted in: Miami Beach Real Estate Update

I have to apologize because recently I have been a little slack in my blog writing.  It’s not really something you are supposed to say on a blog but it’s true and honestly it’s important for me to continue writing and get it back on track.  My excuse?  I am working with a lot of new clients and they have been keeping me super busy! 

…on to the good stuff! 

As I mentioned I am working with many new buyers and as I have been calling on the listings and making appointments, I am coming to realize that many of the properties are going under contract so I wanted to update you on some interesting MLS data. 

MIAMI BEACH CONDOS/TOWNHOMES

  • Right now in 33139 (South Beach) there are 1904 condos/town-homes on the market for sale.
  • 349 are listed as short sales
  • 23 are listed as foreclosures
  • 222 are under contract (I know there are more that have not been updated)
  • 225 closed sales over the last 90 days
  • 427 closed sales so far for this year

Focus on 1 Bedrooms

81 One bedrooms sold (60 closed with cash)
14 were short sales
16 were REOs

The most expensive 1 bedroom that sold in South Beach over the last 90 days was a 1 bedroom/1.5 bath at The Setai located at 101 20th Street.  It sold for $1.250 and was closed with cash. 

The Setai on Miami Beach

There were 20 properties that closed with conventional loans.  A few of the more popular buildings that closed with conventional loans were:  Continuum I, Decoplage and South Pointe Towers. 

 

Market Analysis Report:  1 BEDROOMS LISTED AT $250,000 & BELOW
Property Type: Condo/Coop/Villa/Twnhse (RE2) Status: Closed Sale Number of Properties: 58
  Beds Baths SqFt Listing Price Selling Price SP/SqFt DOM
High 1 1 1,123 $250,000 $225,000 $463 1,052
Low 1 1 390 $60,390 $71,770 $108 6
Average 1 1 705.44 $166,488 $152,690 $223 130.02
Median 1 1 710 $169,900 $153,563 $213 97

 

Market Analysis Report  1 BEDROOMS, PARKING & POOL ( LISTED UNDER $500,000)
Property Type: Condo/Coop/Villa/Twnhse (RE2) Status: Closed Sale Number of Properties: 21
  Beds Baths SqFt Listing Price Selling Price SP/SqFt DOM
High 1 1 1,121 $450,000 $417,500 $535 1,052
Low 1 1 525 $99,900 $126,000 $168 10
Average 1 1 820.29 $246,507 $223,357 $274 194.19
Median 1 1 800 $210,000 $195,000 $246 119

 

Market Analysis Report:  1 BEDROOMS LUXURY LISTED AT $500,000 PLUS
Property Type: Condo/Coop/Villa/Twnhse (RE2) Status: Closed Sale Number of Properties: 4
  Beds Baths SqFt Listing Price Selling Price SP/SqFt DOM
High 1 2 1,201 $1,350,000 $1,250,000 $1,523 187
Low 1 1 662 $595,000 $575,000 $552 82
Average 1 1.25 931.5 $957,500 $887,500 $984 154.25
Median 1 1 931.5 $942,500 $862,500 $930 174

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About the Author

~ Avid Real Estate Estate Blogger for this Award Winning Blog~ We work with Renters, Sellers & Buyers in Miami Beach, Brickell, Downtown Miami & Midtown Miami. We have a strong passion for our business and our past clients will tell you the same. My partner (my husband) and I have a strong work ethic and a strong customer service background. If you are interested in renting, buying or selling in Miami and Miami Beach, we will be more than happy to talk to you. We can be reached at: 305-793-8965 or by email at: jameyprezzi at gmail.com