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The Miami Beaches Market Pulse – October 2016

Christopher J. Lazaro, MBA Licensed Real Estate Broker & REALTOR® Christopher J. Lazaro, MBA, Licensed Real Estate Broker & REALTOR®, 1-800-798-9192 ext. 333, License #: BK3252123, Metro International Investments, MLS: http://REBroker.Miami
For most tourists this is one of the happiest sites of their whole visit.

For most tourists this is one of the happiest sights of their whole visit.

Welcome to the October 2016 Edition of the Miami Beaches Market Pulse!  Amidst the tremendous windup towards the Presidential Election and the Jewish Holidays, people still found the time to make real estate investments in the Miami Beaches.  After the abysmal sales month I reported in the Miami Beaches Market Pulse – September 2016, it was encouraging to see mid-high double-digit closed sales numbers as opposed to the single-digit sales of the prior month.  Sales Volume, year-over-year and year-over-year-over-year are still down considerably and continuing to decline.  Listing Volume continues to climb and/or hover at 3-5 year highs.  In basic economics, low demand & higher supply generally indicates lower prices ahead.  Combine that thought with the idea of a future of higher interest rates, AND a current trend where higher capitalization rates are now being demanded by investors purchasing leased (or to-be-leased) residential & commercial assets, it is no surprise to be seeing and expecting, lower final sales prices across most, if not all, asset classes throughout the country in the absence of demand to the contrary.  The real estate market has effectively peaked and I expect prices to continue to decline as more supply continues to enter the market.  Each asset class must be examined within its own market however.  In some cases on the Miami Beaches, there are assets that are quite probably as low as they will ever get; while at the same time there are others where it would serve the savvy buyer to wait a bit longer for a substantial savings.

What concerns me most of all, however, is the current state of the bond market.  I am going to go into extensive detail this coming month on our economic status, as a nation, and what I foresee as the possible permutations of outcomes are going forward. Bond yields are pushing higher, which means bond prices are dropping.  Bond prices drop when there is a greater amount of selling than buying.  If the current trends continue, especially if interest rates rise…even slightly, the ramifications to the credit markets going forward could be dire.  This will absolutely adversely effect asset prices negatively should the trend continue; and I would argue IT HAS TO.  Interest rates have been artificially low for far too long, and the market distortions this has created have not yet truly begun to be felt.

Market Activity & Neighborhood Reports by Zip Code for the Miami Beaches

33139 – South Beach

Median Est. Home Value: $395K, Down -0.7%; Median Est. Listing Price: $260K, Up 2.0%; Median Days in RPR: 135 Up 2%; Sales Volume: 89, Down –20.5%

Click here to receive the 33139 Market Activity Report

Click here to receive the 33139 Neighborhood & Real Estate Market Report

MLS Sales Volume is at a 3 year low.  Listing Volume is at a 3 year high.

The first few pages of the Market Activity & Neighborhood & Real Estate Market Report says it all, very clearly, in both numbers and charts.  Click it and check out the PDF.

33140 – Mid-Beach

Median Est. Home Value: $550,  Up 14.3%; Median Est. Listing Price: $465K, Up 22.4%; Median Days in RPR: 134, Up  9.8%; Sales Volume: 40, Down –40.3%

Click here to receive the 33140 Market Activity Report

Click here to receive the 33140 Neighborhood & Real Estate Market Report

MLS Sales Volume is at a 3 year low.  Listing Volume is at a 3 year high.  

The first few pages of the Market Activity & Neighborhood & Real Estate Market Report says it all, very clearly, in both numbers and charts.  Click it and check out the PDF.

33141 – North Beach & North Bay Village

Median Est. Home Value: $271K, Up 2.7%; Median Est. Listing Price: $269K, Up 19.3%; Median Days in RPR: 114, Up 2.7%; Sales Volume: 61, Down –23.8%

Click here to receive the 33141 Market Activity Report

Click here to receive the 33141 Neighborhood & Real Estate Market Report

MLS Sales Volume is at a 3 year low.  Listing Volume is at a 3 year high.

The first few pages of the Market Activity & Neighborhood & Real Estate Market Report says it all, very clearly, in both numbers and charts.  Click it and check out the PDF.

33154 – Bal Harbour & Bay Harbor Islands

Median Est. Home Value: $678K, Up 3.5%; Median Est. Listing Price: $510K, Up 21.7%; Median Days in RPR: 132, Down –4.3%; Sales Volume: 33, Down –8.3%

Click here to receive the 33154 Market Activity Report

Click here to receive the 33154 Neighborhood & Real Estate Market Report

MLS Sales Volume is at a 3 year low.  Listing Volume is at a 3 year high.

 The first few pages of the Market Activity & Neighborhood & Real Estate Market Report says it all, very clearly, in both numbers and charts.  Click it and check out the PDF.

33160 – Sunny Isles Beach, Eastern Shores & Golden Beach

Median Est. Home Value: $360K, Up 2.3%;  Median Est. Listing Price: $320K, Up 23.6%; Median Days in RPR: 147, Up 11.4%; Sales Volume: 127, Down –12.4%

Click here to receive the 33160 Market Activity Report

Click here to receive the 33160 Neighborhood & Real Estate Market Report

MLS Sales Volume is at a 3 year low.  Listing Volume is at a 3 year high.

The first few pages of the Market Activity & Neighborhood & Real Estate Market Report says it all, very clearly, in both numbers and charts.  Click it and check out the PDF.

Miami Realtor, Miami Real Estate Professional

Christopher Lazaro, MBA – International Realtor of Miami

Navigating the real estate investment markets can seem overwhelming to the non-professional and can be detrimental to enter into without the proper guidance based on fundamental analysis of the markets.  Give me a call and let me service your real estate investment needs.  Whether you are a first time home buyer, or a savvy commercial real estate investor, myself and my team of agents can empower you to achieve your investment goals in the real estate market both here in Southeast Florida, as well as throughout the State of Florida.

Cheers,

Christopher J. Lazaro, MBA

Licensed Real Estate Broker

1-800-798-9192 x333

MLS:  http://www.REBroker.Miami

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About Christopher J. Lazaro (47 Articles)
I am a Licensed Real Estate Broker specializing in Residential Real Estate transactions from Downtown Miami, through the Miami Beaches and into Fort Lauderdale along the US1 Corridor and East. Whether you are a First Time Home Buyer, an Institutional Buyer, or Private Investor, I will be happy to provide you a consultation to evaluate your real estate investment goals. I can be reached at 1-800-798-9192 ext. 333. My MLS Website can be found at http://REBroker.Miami. I am a Qualifying Broker for and partner in, Metro International Investments.

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