The APT Team at LuxurySouthBeachRealty continuously compiles detailed market and trend reports including inventory availability, absorption, list to sales price ratio, sold statistics and more for our customers.
Please contact us at info@luxurysouthbeachrealty.com so that you can receive the APT Market Reports that meet your specific needs delivered to your inbox or mailbox.Tailor-made, these APT Reports can be by building, area, neighborhood or market-centric (residential or condos). Below is an example of the thorough APT Market Miami Beach Waterfront Home Sales 2011 Review, which was compiled from data obtained from the South East Florida MLS. Click here for the 10 Penthouses sold in 2011 totaling $34M in the Brickell/Downtown Miami area.
CLICK HERE FOR: 2011 RECORD SETTING YEAR FOR MIAMI'S REAL ESTATE
The APT Market Miami Beach Waterfront Home Sales 2011 Review
What a difference a year makes. In 2010, there were 70 waterfront homes sold in Miami Beach while 100 waterfront homes were sold in 2011. The highest sale in 2010 was for the 88 La Gorce Cr home, which sold for for $16,000,00 on June 11, 2010. The highest single-family residential sale in 2011 was for 13 Star Island, which closed on 4/28/2011 for $25,500,000. This unprecedented sale was the first home sale to surpass the $20M+ residential sale since 2008, when 5 lots in Sunset Island II were sold for $22.5M. Declining inventory (about 40% down in Miami in 2011 from the previous year), sharp rise in sales volume activity, international buyers forking out cash for properties or accounting about 80% of the luxury purchases in 2011, desirability in luxury waterfront properties in Miami Beach and affordability (sales prices of single family homes in 2011 were more less the same than in 2004-05, all contributed to the banner year of luxury waterfront home sales in Miami for 2011.
From the APT 2011 Market review analysis, we have learned that homes in 2011 commanded more dollars per square foot than in 2010. For example, in 2011 homes in La Gorce Cr. sold for an average of $909/sq.ft whereas in 2010 the closed at $880/sq.ft. Sunset Islands closed at $924 a square foot in 2011 and in 2010 they closed at $398 a square foot.*
The top 20 most expensive, ultra high-end real estate (condos and homes) in Miami exceeded a total of $244,000,000, an increase of nearly 24% from the previous year.
The leading 5 home sales in Miami Beach for 2011 totaled $68,470,000.
1736 W 28 St, sold for $19,800,000 on 7/19/2011
4580 N. Bay Rd., sold for $15,000,000 on 9/26/2011
15 Star Island, sold for $12,720,000 on 11/23/2011
95 La Gorce Cr, sold for $11,600,000 on 9/16/2011
Of the 100 Miami Beach waterfront sales in 2011, we surveyed the 50 home transactions closed in Sunset Islands; Venetian Islands; the triplet islands of Star, Palm and Hibiscus; North Bay Rd., Pinetree Drive, La Gorce Island and Allison Island. These submarkets or areas of Miami Beach were then compared to the sales realized in this area in 2010. Figures reveal that in 2011 homes fetched higher prices than in the previous year. Additionally, the list to sale price ratio decreased. As we can see from this ratio decrease, price concessions or variances from the list price were harder to obtain in 2011 due to fact that the market correction in previous years had begun to curve up so the discount margin narrowed.
Going beyond the comparable market analysis
We at LuxurySouthBeachRealty are dedicated in providing timely market analyses, indices and reports for our buyers and sellers so they can be better equipped when making a real estate transaction. We go beyond the evaluation of comparable recently sold homes because, simply put, we want our customers to leverage our resources and make intelligent business choices.
Our surveys and analyses include but are not limited to zip code reports with price metrics, current inventory, list to sales price ratios, # of buyers per price tiers, average list price to sold price variances, percentage of inventory for sale vs. listed by property type, building or area and much more.
Contact us for your personalized APT Report today. Ask about our digital market brochures or magazines like the one featured above, weekly market snapshots, our detailed Index and Market Series and our Profile Snippets. Included below are samples of surveys, analysis and reports we have completed or can provide for you upon request.
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