Market Activity & Neighborhood Reports by Zip Code for the Miami Beaches
I trust everyone is having an excellent (and HOT) Summer in Southeast Florida. I am updating this blog with a half dozen drafts that have been lying dormant in my work queue as I have been otherwise occupied (forthcoming rant post in the works). First quarter this year (2018) saw a bounce in existing Condo Sales throughout the 5 zip codes of the Miami Beaches. This was expected and it remains to be seen as to whether or not this is a “Dead Cat Bounce” (as they say in the stock market world), or if prices will continue to decline after a 3-4 month rise. The single-family home market, THROUGHOUT Southeast Florida, remains very strong with a shortage of inventory (and reasonable pricing) constraining sales volume. Nationally, housing starts began to decline significantly, and this is because National and Local Home Developers are antsy about both rising interest rates (and the Fed’s commitment to such) as well as their newfound (as of 2008-2010) conservatism towards first figuring out where they are in the macro-economic real estate cycle. Even with a plethora of land lots already with sewer and water in many places (some dating back 1-3 decades and yet still unbuilt throughout the country), the builders are proceeding cautiously in their acquisition of both these “ancient” projects as well as virgin land for development. No one wants to end up on the short end of a speculative stick. This gives the appearance, at least here in SE Florida, of a “slowdown” in the housing market, but there is actually no such slowdown in my opinion. The market is constrained. Limited availability of affordable inventory is sidelining prospective buyers. I believe the forthcoming mid-term elections will result in either, a new leg to the housing boom, or a recession; will it be the Capitalists or the Socialists who win the day? We will see.
While the Miami Beaches continue to be a desired place to live, single-family housing remains out of reach for the majority of Americans; and with the value of the USD remaining where it is, it also remains out of the reach of international buyers; leaving condominium apartments are the only truly affordable vehicle to having an ownership presence in/on the Miami Beaches.
See the Miami Association of Realtors Market Focus Report here >>>>> https://www.youtube.com/watch?v=841wF6LEgUE
The Miami Association of Realtors® is the largest Realtor Board in the United States of America consisting of more than 50,000 members.
Fact/Opinion: Miami is the Nation’s youngest MAJOR city. Massive investment continues into necessary infrastructure for transportation, water management, waste management, cultural arts, schools, railways, roads, and ports. If there was ever a place for an investor with a 10-year time horizon, Miami should certainly be on that short list.
I do not publish commercial real estate data (I get paid for this), but I primarily work with small to large investors in the commercial real estate arena; my specialization is assemblages and re-zoning. Contact me for my services in this regard.
33139 – South Beach & The Venetian Islands
Click here to receive the Miami Beach, 33139 Market Activity Report
Click here to receive the Miami Beach, 33139 Neighborhood Report
33140 – Mid-Beach, Bayshore, Sunset Islands, La Gorce & La Gorce Island
Click here to receive the Miami Beach, 33140 Market Activity Report
Click here to receive the Miami Beach, 33140 Neighborhood Report
For Real-Time Real Estate Market Reporting data, see the Miami Beach Market Report page.
33141 – North Beach, Normandy Isle, Normandy Shores & North Bay Village
Click here to receive the Miami Beach, 33141 Market Activity Report
Click here to receive the Miami Beach, 33141 Neighborhood Report
Looking for a condo to rent or own? See our Featured North Bay Village Condominiums.
Looking for a home? See our Featured North Bay Village Homes for sale.
33154 – Bal Harbour, Surfside & Bay Harbor Islands
Click here to receive the Miami Beach, 33154 Market Activity Report
Click here to receive the Miami Beach, 33154 Neighborhood Report
33160 – Sunny Isles Beach, Eastern Shores & Golden Beach
Click here to receive the Sunny Isles Beach, 33160 Market Activity Report
Click here to receive the Sunny Isles Beach, 33160 Neighborhood Report
Looking for a condo to rent or own? See our Featured Sunny Isles Beach Condominiums.
Looking for a home? See our Featured Sunny Isles Beach Homes for Sale.
Coming this week: I am releasing the 2nd quarter/first half of 2018 results for the Miami Beaches later this week as well as foreclosure data for Miami-Dade & Broward Counties.
About the Miami Beaches Market Pulse
The Miami Beaches Market Pulse is a quarterly market analysis by Christopher J. Lazaro, MBA & Licensed Real Estate Broker, featuring professional commentary, useful links, real estate market data & statistics, and downloadable Miami Beach real estate market reports & Miami Beach real estate neighborhood reports, of the five zip codes of the Miami Beaches: 33139 (South Beach & The Venetian Islands), 33140 (Mid-Beach, the Sunset Islands, Bayshore, La Gorce & La Gorce Island), 33141 (North Beach, Normandy Isle, Normandy Shores, North Bay Village), 33154 (Surfside, Bal Harbour & Bay Harbor Island), 33160 (Sunny Isles Beach, Eastern Shores & Golden Beach).