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% |
