July Numbers on the Beach!

Sales on the Beach were 164 units in July with an average price, what I call the sweet spot, of approximately $430,000.00. The highest sale was $35,000,000.00* (37 Star Island Dr. Rick Ross is the Buyer) and the lowest was $120,000.00 (1020 Euclid Ave # 5).

The price that is most sought after and closed (the sweet spot) is between $300,000 and $600,000.

To see whats available at this price point click here. Be patient page takes time to load because of photos.

and then this…

?? Exciting news for buyers and sellers in Miami Beach, Florida! Joaquin & Mireya Gutierrez & Mora, REALTORS® from Canvas Real Estate are here to give you the latest market trends update for July 2023. Let’s dive right in! ?

? Did you know that currently, there are 6.83 Months Supply of Inventory? That means there’s a healthy balance between available properties and interested buyers in the market. ?✨

? Over the last 12 months, the Months Supply of Inventory has increased by a significant +49.78%. This indicates a growing demand for homes in Miami Beach, making it an excellent time to consider selling! ??

? When it comes to getting the best deal, you’ll be glad to know that the List to Sold Price percentage is 95%. This means that sellers are achieving a solid return on their investment. Buyers, you can trust that the listing prices are competitive! ??

⏰ Thinking about how long it takes for a property to sell? The median days on the market is 48, which is relatively quick. This tells us that properties are moving fast, so acting swiftly is key for both buyers and sellers! ?‍♀️?‍♂️

?? Lastly, the median sold price in Miami Beach is currently $549,000. This gives you an idea of the average price range for properties in the area. Whether you’re buying or selling, it’s crucial to stay informed about current market values! ??

? Joaquin & Mireya Gutierrez & Mora, REALTORS® from Canvas Real Estate are dedicated to keeping you up-to-date with the latest trends and insights in the Miami Beach market. Feel free to reach out to us for personalized advice and guidance tailored to your real estate goals! ?✉️

* Late August

MiamiBeachRealEstate #MarketTrends #CanvasRealEstate #BuyersAndSellers #StayInformed

Joaquin Gutierrez

Joaquin Gutierrez