Miami is THE Turnaround Real Estate Market Nationwide

By Allan Kleer | Published: November 18, 2011
Miami Beach Real Estate

The Island Homes of Miami Beach

Nationally, across the entire United States, the inventories of homes listed for sale on Realtor.com were down nearly 21 percent in October from a year ago, with 135 of 146 markets tracked posting double-digit annual percentage declines.

Declining listing inventories, combined with generally rising prices, can be seen as a positive sign that the overall housing market is turning around in Greater Miami, and most especially in Miami Beach.   Affluent Foreign Buyers are attracted to Miami Beach’s luxury homes in the island communities of Palm, Star, Hibiscus, La Gorce, Sunset Islands I – IV, and the Venetian Islands chain.  This has caused an unprecedented rise in sales of luxury waterfront homes over the past year, with an incredible sales volume increase of  Miami Beach Homes sold in 2011.  For more information on year over year sales comparisons, please see the Miami Beach Home sales analysis on our sister site- TheKleerTeam.com

Miami Beach Luxury Homes – 60 Day Sales:

Sales Date Miami Beach Home Living Area Sales Price SP$/SqFt
11/3/2011 1620 W 21 ST            6,300  $       5,175,000  $           821
11/2/2011 285 N SHORE DR            2,302  $           980,000  $           426
11/2/2011 4501 NAUTILUS DR            4,118  $       1,290,000  $           313
11/2/2011 6905 VALENCIA DR            4,500  $       4,100,000  $           911
11/1/2011 1420 W 22 ST            4,172  $       2,000,000  $           479
10/10/2011 5785 PINETREE DR          10,000  $       1,900,000  $           190
10/10/2011 5328 N BAY RD            6,300  $       5,435,000  $           863
10/5/2011 4580 N BAY RD          13,186  $     15,000,000  $        1,138
9/30/2011 7841 COLLINS AV            5,547  $       2,510,000  $           452
9/29/2011 6400 PINETREE DR CR            4,860  $       2,100,000  $           432
9/26/2011 2068 N BAY RD            5,236  $       4,000,000  $           764

Analyzing a combination of factors, including unemployment rates and annual changes in median list price, median age of inventory, total listings, and Realtor.com search rank,  Realtor.com compiled a top 10 list of  “Turnaround Real Estate Markets.”

Why Miami is The Top Real Estate Market :


Market		 Median
list
price,
annual
change		 Median age
of inven-
tory,
annual change 		Total
listings,
annual change		 Unem-
ploy-
ment
rate
(Aug-
ust)		 Real-
tor.com
search
Rank
1. Miami, Fla. 25.06% -22.41% -49.23% 11.2 19

Eleven of the 20 markets in the entire United States that have seen the greatest annual decline in active listings were in Florida, including Miami, Orlando, and Fort Myers, where inventories were down 40 percent or more from a year ago.

Realtor.com inventory declines- The Miami Specific Stats:

Market

Total listings, October

Change from year ago

Change from September
1. Miami, Fla.

13,457

-49.23%

-1.24%
Posted in Miami Beach Homes, Miami Beach Luxury Homes, Miami Beach real estate, Miami Beach Sellers, Miami Beach Waterfront Homes, Miami Housing Market, South Beach real estate | Tagged , , , | Leave a comment

View of Star Island Homes & Estates

By Allan Kleer | Published: November 4, 2011

The change in weather in Miami Beach reminds us that high Winter season is just around the corner.  The past few months have seen incredible sales activity for ultra-luxury waterfront homes and estates located on the various island communities of Miami Beach- such as Palm, Hibiscus, and Star Island.  At the very bottom of this post, are the past ninety days of closed sales of Miami Beach single family homes priced above $2 Million.

Star Island Homes and Estates

Star Island as seen from Miami Beach on November 4, 2011

This incredible sales momentum reflects an almost 200% sales volume increase from the same period in 2010.  Many celebrities and notables call Miami Beach their home (or summer / vacation home) due to the incredible & secure lifestyle, weather, and the many amenities that Miami Beach has to offer residents, visitors, and guests.  To find out more about the many varied Miami Beach upcoming events please check out our Miami Beach Events listings by clicking HERE.  In the distance in the above picture of Star Island taken on the this incredible late Fall day, one can see the 40 Star Island Drive Estate, which is currently available for sale:

Miami Beach Star Island Home for Sale

40 Star Island Drive Estate

Key Sales Facts of this Miami Beach Estate Home Sale:

40 Star Island Drive on Miami Beach’s Star Island with an asking price of $29,500,000

Previous Sale Price (1/2004) : $15,000,000
House Square Feet: 9,854
Seven Bedrooms / Six Bathrooms
Land S.F.: 87,991 S.F.
330 Linear Feet of Waterfront!

Majestic main residence & 2 guest houses w/ 9,854 SF repose on lot spanning over 2 acres of guard-gated Star Island; home to stars and business moguls. Its opulent old world charm are abundant w/ sublime architectural details in every room. Endowed with Fine wood, marble, stone floors, fireplace, vaulted ceilings & french doors. Picturesque landscape bestowed w/ unheard of 330′ of waterfront, dock, gazebo/entertainment area, resort-style pool & fountains. Truly magnificent for the most demanding client.

The latest sales statistics for Miami Beach Luxury Homes Sold (Past 90 Days):

Sale Date Miami Beach Home  Living Area  Sales Price  SP$/SqFt
11/3/2011 1620 W 21 ST 6,300 $5,175,000 $821
11/1/2011 1420 W 22 ST 4,172 $2,000,000 $479
10/10/2011 5328 N BAY RD 6,300 $5,435,000 $863
10/5/2011 4580 N BAY RD 13,186 $15,000,000 $1,138
9/30/2011 7841 COLLINS AV 5,547 $2,510,000 $452
9/29/2011 6400 PINETREE DR CR 4,860 $2,100,000 $432
9/27/2011 94 LA GORCE CR 15,101 $11,600,000 $768
9/26/2011 2068 N BAY RD 5,236 $4,000,000 $764
9/16/2011 68 LA GORCE CR 6,190 $6,500,000 $1,050
9/9/2011 1730 W 23 ST 5,962 $5,600,000 $939
8/23/2011 1800 BAY DR 5,149 $2,600,000 $505
8/18/2011 5360 LA GORCE DR 8,339 $4,200,000 $504
8/9/2011 400 E SAN MARINO DR 5,500 $2,500,000 $455
Posted in Miami Beach Homes, Miami Beach Luxury Homes, Miami Beach real estate, Miami Beach Real Estate Agent, Miami Beach Waterfront Homes, South Beach real estate | Tagged | Leave a comment

Miami Beach Estate Home – Just Sold on North Bay Road

By Allan Kleer | Published: October 10, 2011
Miami Beach Home

Miami Beach North Bay Road Estate Home

This unique Miami Beach Estate-type home just sold for an incredible $15,000,000 on Miami Beach’s North Bay Road.  This latest Miami Beach waterfront home sale demonstrates the continued strong demand for single family (and unique) ultra-luxury properties in premier waterfront locations.

Key Sales Facts of this Miami Beach Estate Home Sale:
4580 North Bay Road on Miami Beach’s Bay Road Neighborhood
Closed Sale Price (9/26/2011) : $15,000,000
Previous Sale Price (2003): $2,650,000
House Square Feet: 13,186
Eight Bedrooms / Twelve Total Bathrooms
Land S.F.: 24,805 S.F.
220 Linear Feet of Waterfront

Set on a 26,168 sf lot, this new 13,618 S.F. Mediterranean estate offers privacy and elegance. Features include a waterfront pool, fountains and a large dock, stone & cherry flooring, Venetian plaster finishes & mahogany cabinetry. This Mizner Mediterranean mansion on North Bay Road contains a wealth of entertaining space as well as 8 bedrooms, 9 full and 3 half baths plus an office and formal bar.  An added bonus is the approximately 150 ft of curved open bay frontage, with ample dockage for a mega yacht!

The latest sales statistics for Miami Beach Homes Sold in the past Ninety Days:

 

Sale Date Miami Beach Home Address   Sales Price    SP$/SqFt 
9/30/2011 7841 COLLINS AV $2,510,000 $452
9/29/2011 6400 PINETREE DR CR $2,100,000 $432
9/29/2011 4531 POST AV $560,000 $286
9/27/2011 94 LA GORCE CR $11,600,000 $768
9/27/2011 5460 ALTON RD $725,000 $316
9/27/2011 4567 JEFFERSON AV $620,000 $215
9/26/2011 2068 N BAY RD $4,000,000 $764
9/16/2011 68 LA GORCE CR $6,500,000 $1,050
9/12/2011 1049 W 47 ST $720,000 $298
9/9/2011 101 W DILIDO DR $1,480,000 $443
9/9/2011 1730 W 23 ST $5,600,000 $939
9/7/2011 4550 N MICHIGAN AV $650,000 $252
9/7/2011 5100 LAKEVIEW DR $835,000 $408
9/2/2011 306 S HIBISCUS DR $1,900,005 $710
9/2/2011 1375 STILLWATER DR $780,000 $288
9/2/2011 4565 ADAMS AVENUE # *** $700,000 $274
8/31/2011 1580 CLEVELAND RD $710,000 $214
8/26/2011 2084 PRAIRIE AV $740,000 $198
8/26/2011 855 STILLWATER DR $1,150,000 $590
8/25/2011 3606 FLAMINGO DR $1,440,000 $350
8/23/2011 1800 BAY DR $2,600,000 $505
8/23/2011 4500 PRAIRIE AV $1,600,000 $322
8/18/2011 5360 LA GORCE DR $4,200,000 $504
8/15/2011 1800 W 27 ST $1,200,000 $475
8/15/2011 230 N HIBISCUS DR $820,000 $510
8/9/2011 1495 DAYTONIA RD $587,500 $177
8/9/2011 837 ESPANOLA WY $750,000 $192
8/9/2011 400 E SAN MARINO DR $2,500,000 $455
8/8/2011 455 E DILIDO DR $1,850,000 $565
8/5/2011 3166 N BAY RD $1,550,000 $540
8/2/2011 280 S COCONUT LN $1,730,000 $815
8/2/2011 2956 FLAMINGO DR $1,687,500 $346
7/28/2011 520 W 49 ST $645,050 $312
7/27/2011 94 PALM AV $14,200,000 $1,008
7/26/2011 6655 SHEFFIELD LN $2,231,000 $647
7/22/2011 1745 W 24 ST $2,400,000 $609
7/22/2011 6156 PINETREE DR $905,000 $338
7/22/2011 1865 DAYTONIA RD $695,000 $312
7/21/2011 930 STILLWATER DR $800,000 $362
7/19/2011 120 W RIVO ALTO DR $1,925,000 $660
7/19/2011 1736 W 28 ST $19,800,000 $1,739
7/18/2011 5941 PINETREE DR $3,062,500 $658
7/15/2011 25 LA GORCE CR $2,290,000 $517
7/14/2011 5711 PINETREE DR $2,440,000 $738
7/13/2011 4450 NAUTILUS DR $865,000 $376
7/13/2011 5700 ALTON RD $670,000 $286
7/12/2011 5101 LAKEVIEW DR $1,050,000 $382
7/9/2011 709 E DILIDO DR $1,900,000 $712
7/1/2011 227 E DILIDO $3,277,119 $446
7/1/2011 435 W 51 ST $1,055,000 $352

Miami Beach Real Estate Market

Posted in Miami Beach real estate | Leave a comment

What’s Selling in Miami Beach

By Allan Kleer | Published: September 27, 2011
Miami Beach Real Estate

Miami Beach Real Estate

Miami Beach’s Housing & overall Real Estate market has followed the recent trend of other luxury markets- attracting wealthy International Buyers looking to take advantage of the lower price points.  A recent USA Today article on the overall housing market summed it up, if you’re rich the housing market is terrific!   What I am seeing in Miami Beach’s Real Estate market is that supply of waterfront homes and condos has dropped dramatically in the past year.  Specifically, waterfront homes in the ultra-luxury communities such as The Venetian, Palm, Star, La Gorce, and Sunset Islands have been selling at a near-record pace.

With the increase in sales activity in Miami Beach’s housing market, the average listing price discount – the percentage difference between list price at time of contract and the contract price- was 9.4% for the first six months of 2011, down from 11.4% in the second half of 2010.  For the second quarter of 2011, the number single family homes sold in Miami Beach increased by almost 7% from the same period last year.

The Five Newest Ultra-Luxury Homes for Sale in Miami Beach:

Showing properties 1 - 5 of 77. See more city of Miami Beach real estate.
(all data current as of 1/27/2012)

  1. 6 beds, 8 full, 2 part baths
    Home size: 9,777 sq ft
    Lot size: 1.04 ac
    Year built: 1939
    Parking spots: 3
    Days on market: 1
  2. 7 beds, 5 full, 2 part baths
    Home size: 6,103 sq ft
    Lot size: 30,000 sq ft
    Year built: 1922
    Parking spots: 1
    Days on market: 3
  3. 5 beds, 4 full, 1 part baths
    Home size: 4,637 sq ft
    Lot size: 24,979 sq ft
    Year built: 1941
    Parking spots: 2
    Days on market: 14
  4. 9 beds, 8 full, 2 part baths
    Home size: 7,100 sq ft
    Lot size: 42,900 sq ft
    Year built: 1930
    Parking spots: 4
    Days on market: 39
  5. 6 beds, 6 full, 2 part baths
    Home size: 5,247 sq ft
    Lot size: 30,200 sq ft
    Year built: 1940
    Parking spots: 2
    Days on market: 50

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

The latest sales statistics for Miami Beach Homes Sold in the past Ninety Days:

Sale Date Miami Beach Address  List Price   Living Area   Sales Price
9/26/2011 2068 N BAY RD $4,750,000 5,236 $4,000,000
9/16/2011 68 LA GORCE CR $8,200,000 6,190 $6,500,000
9/12/2011 1049 W 47 ST $799,000 2,413 $720,000
9/9/2011 101 W DILIDO DR $1,700,000 3,344 $1,480,000
9/9/2011 1730 W 23 ST $6,495,000 5,962 $5,600,000
9/7/2011 4550 N MICHIGAN AV $798,678 2,578 $650,000
9/7/2011 5100 LAKEVIEW DR $859,900 2,047 $835,000
9/2/2011 306 S HIBISCUS DR $1,973,000 2,677 $1,900,005
9/2/2011 1375 STILLWATER DR $650,000 2,711 $780,000
9/2/2011 4565 ADAMS AVENUE # *** $749,000 2,553 $700,000
9/1/2011 2430 PRAIRIE AV $799,000 3,848 $705,000
8/31/2011 1580 CLEVELAND RD $799,000 3,319 $710,000
8/26/2011 2084 PRAIRIE AV $740,000 3,744 $740,000
8/26/2011 855 STILLWATER DR $1,195,000 1,950 $1,150,000
8/25/2011 3606 FLAMINGO DR $1,690,000 4,117 $1,440,000
8/23/2011 1800 BAY DR $2,990,000 5,149 $2,600,000
8/23/2011 4500 PRAIRIE AV $1,890,000 4,964 $1,600,000
8/18/2011 5360 LA GORCE DR $4,750,000 8,339 $4,200,000
8/15/2011 1800 W 27 ST $1,700,000 2,528 $1,200,000
8/15/2011 230 N HIBISCUS DR $899,000 1,608 $820,000
8/9/2011 1495 DAYTONIA RD $795,000 3,325 $587,500
8/9/2011 837 ESPANOLA WY $895,000 $750,000
8/9/2011 400 E SAN MARINO DR $2,995,000 5,500 $2,500,000
8/8/2011 455 E DILIDO DR $2,250,000 3,275 $1,850,000
8/5/2011 3166 N BAY RD $1,595,000 2,873 $1,550,000
8/2/2011 280 S COCONUT LN $1,750,000 2,122 $1,730,000
8/2/2011 2956 FLAMINGO DR $1,850,000 4,876 $1,687,500
7/31/2011 4585 NAUTILUS DRIVE $700,000 1,827 $650,000
7/28/2011 520 W 49 ST $765,000 2,068 $645,050
7/27/2011 94 PALM AV $16,000,000 14,083 $14,200,000
7/26/2011 6655 SHEFFIELD LN $2,399,000 3,448 $2,231,000
7/22/2011 1745 W 24 ST $2,700,000 3,943 $2,400,000
7/22/2011 6156 PINETREE DR $999,000 2,677 $905,000
7/22/2011 1865 DAYTONIA RD $695,000 2,226 $695,000
7/21/2011 930 STILLWATER DR $990,000 2,207 $800,000
7/19/2011 120 W RIVO ALTO DR $2,450,000 2,917 $1,925,000
7/19/2011 1736 W 28 ST $25,000,000 11,388 $19,800,000
7/18/2011 5941 PINETREE DR $3,499,000 4,654 $3,062,500
7/15/2011 25 LA GORCE CR $2,599,000 4,431 $2,290,000
7/14/2011 5711 PINETREE DR $2,600,000 3,304 $2,440,000
7/13/2011 4450 NAUTILUS DR $895,000 2,303 $865,000
7/13/2011 5700 ALTON RD $749,000 2,346 $670,000
7/12/2011 5101 LAKEVIEW DR $1,099,000 2,749 $1,050,000
7/12/2011 3157 ROYAL PALM AV $875,000 2,511 $800,000
7/9/2011 709 E DILIDO DR $1,995,000 2,669 $1,900,000
7/5/2011 7713 NOREMAC AV $499,900 2,598 $505,000
7/1/2011 227 E DILIDO $3,999,000 7,350 $3,277,119
7/1/2011 435 W 51 ST $1,175,000 3,000 $1,055,000
6/21/2011 5745 N BAY RD $859,000 2,862 $750,000
6/16/2011 5237 LA GORCE DR $819,000 2,519 $790,000
Posted in Miami Beach Homes, Miami Beach Luxury Homes, Miami Beach real estate, Miami Beach Real Estate Agent, Miami Beach Sellers, Miami Beach Waterfront Homes, Miami Housing Market, Palm Island, South Beach real estate | 1 Comment

Latest Miami Beach Luxury Home Sale

By Allan Kleer | Published: September 17, 2011
Miami Beach Home Sold on La Gorce Island

Miami Beach Home Sold on La Gorce Island

This extraordinary Miami Beach waterfront ultra-luxury home just sold on guard-gated La Gorce Island for $6,500,000 ($1,050/S.F).  Characterized by rare palm trees and a unique architectural style, this Estate home is a private tropical oasis. Graced with beautiful arches, exquisite marble floors and wood coffered ceilings, the living areas are the perfect setting for days and nights of glamorous entertaining. Pool area with gazebo, covered seating areas, spa, dock. 104 ft of waterfront, davits.   Featuring privacy &  incredible wide Bay views of Miami Beach luxury homes in the distance.

58 La Gorce Circle on Miami Beach’s La Gorce Island

Closed Sale Price (9/2011) : $6,500,000

Previous Sale Price (2002): $3,950,000

House Square Feet: 6,190
Five Bedrooms / Nine Total Bathrooms
Land S.F.: 19,095 S.F.
104 Linear Feet of Waterfront

Posted in Miami Beach Homes, Miami Beach Luxury Homes, Miami Beach real estate, Miami Beach Sellers, Miami Beach Waterfront Homes | Leave a comment
  • Miami Beach Real Estate Market

  • Sell Your Miami Beach Home

    Miami Beach Luxury Waterfront Homes

  • Subscribe the Miami Beach Real Estate Newsletter

  • Miami Real Estate Blog Topics

The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Realtor® Association of Miami-Dade County. The detailed information on each listing contains the name of the listing agent and broker.

This IDX solution is (c) Diverse Solutions 2012.