Condos Real Estate Market Analysis in Miami-Dade as of March 2010
( Source South East Florida Association of Realtors)
- 16,424 Available condos for sale
- 5,124 Pending sales (31% of the available inventory)
- 6,123 are listed as Short Sales (37%)
- 598 are listed as REO “Real Estate Owned” (3.6%)

Miami Dade inventory
This graphic really shows us the trend in regards of the inventory and this should be the most important number to analyze in order to understand where the Real Estate market is going in Miami Dade.
Today, the condo inventory in Miami Dade is 16,424 Available condos for sale. In the beginning of 2008, we were almost at 35,000!
The inventory in months went from a high 60 months of supply to less than 12 months with today’s numbers. The condo market is definitely coming back and this has not started a few months ago but has been following the same trend in the past two years in Miami Dade.
Take a look at the condo trend in Miami Beach. It is going in the same direction!!!

South Beach 33139 Inventory
Amount of Available Listings – Short Sales – REO’s by Main Areas:
| Areas | Available Listings | Amount of Short Sales | Amount of REO's |
| Aventura | 1,444 | 325 (22%) | 31 |
| Bal Harbour | 217 | 34 | 1 |
| Coconut Grove | 200 | 48 | 7 |
| Coral Gables | 387 | 69 | 11 |
| Fisher Island | 87 | 14 | 1 |
| Key Biscayne | 372 | 25 | 2 |
| Miami | 6,263 | 2,873 (46%) | 291 |
| Miami Beach | 3,024 | 590 (19%) | 67 |
| Sunny Isles | 1,059 | 199 (19%) | 13 |
| ALL AREAS IN MIAMI DADE | 16,424 | 6,123 | 598 |
By looking at those numbers, we can clearly understand that the Miami Area is really the most affected by economic difficulties. The amount of Short Sales Listed representing 46% of the inventory in the Miami area.
As of today 6,263 units are available in the Miami Area but we should notice that 2,307 units are Pending Sales or under contract.
Today, are going to take a closer look at the Miami Beach Real Estate Activity in the past month.
To finish we will view the last pending sales in the South Of Fifth Area in South Beach also known as SOFI.
Miami Beach last sales in the past 30 days over one million dollars:
| ML# | Complex Name | #Beds | #FB | #HB | Address | Yr Blt | List Price | Sale Price | ADOM |
| M1345071 | APOGEE | 3 | 4 | | 800 S POINTE DR # 702 | 2008 | 3,600,000 | 3,200,000 | 111 |
| M1277854 | ONE THOUSAND VENETIAN | 5 | 4 | 1 | 1000 VENETIAN WY # 801/03 | 1983 | 1,699,000 | 1,500,000 | 371 |
| M1333685 | CONTINUUM SOUTH | 2 | 2 | 1 | 100 S POINTE DR # 2302 | 2002 | 1,600,000 | 1,530,000 | 153 |
| D1369538 | Portofino Tower Condo | 2 | 2 | 1 | 300 S POINTE DR # 2102 | 1996 | 1,579,000 | 1,275,000 | 70 |
| M1356562 | BentleyBeach | 2 | 2 | 0 | 101 OCEAN DR # 407 | 2003 | 1,395,000 | 1,310,000 | 65 |
| M1263882 | Icon | 3 | 3 | 1 | 450 ALTON RD # 701 | 2005 | 1,350,000 | 1,280,000 | 525 |
| M1326118 | MURANO GRANDE | 2 | 2 | 1 | 400 ALTON RD # 1801 | 2003 | 1,299,000 | 1,100,000 | 187 |
| M1358430 | Green Diamond | 3 | 2 | 0 | 4775 COLLINS AV # 2501 | 2000 | 1,225,000 | 1,100,000 | 58 |
| M1316356 | MURANO GRANDE | 2 | 2 | 1 | 400 ALTON RD # 2110 | 2003 | 1,190,000 | 1,000,000 | 234 |
| M1235031 | GREEN DIAMOND | 3 | 3 | 0 | 4775 COLLINS AV # 2203 | 2000 | 1,090,000 | 1,050,000 | 552 |
Apogee Condo South Beach has been the highest sale in Miami Beach Luxury Condos this past month sold at $3,200,000.
Murano Grande Condo and Green Diamond Condo also did well with 2 sales over a million dollars recorded in the past 30 days.
SOFI/South Of Fifth pending sales in the past 30 days:
| ML# | Status | Complex Name | #Beds | #FB | #HB | Address | Yr Blt | List Price | Sale Price | ADOM | REO | SSL |
| M1284612 | PS | Apogee Condominium | 3 | 3 | 1 | 800 S Pointe # 803 | 2008 | 4,395,000 | | 441 | N | N |
| M1340214 | PS | PORTOFINO TOWER | 4 | 6 | 1 | 300 S POINTE DR # 3101 | 1996 | 3,500,000 | | 178 | N | N |
| D1378372 | PS | CONTINUUM ON SOUTH BEACH | 3 | 3 | 0 | 50 S POINTE DR # 2002 | 2008 | 2,684,000 | | 31 | N | N |
| D1381515 | PS | Continuum | 3 | 3 | 0 | 100 S POINTE DR # 710 | 2002 | 1,675,000 | | 6 | N | N |
| M1334906 | PS | CONTINUUM | 2 | 2 | 1 | 100 S POINTE DR # 1109 | 2002 | 1,499,000 | | 181 | N | N |
| M1323173 | PS | Continuum South | 2 | 2 | 1 | 100 S POINTE DR # 1409 | 2002 | 1,400,000 | | 258 | N | N |
| M1364498 | PS | The Courts at South Beach | 4 | 3 | 1 | 145 JEFFERSON AV # 423 | 2001 | 1,150,000 | | 53 | N | N |
| M1300103 | PS | Murano at Portofino | 2 | 2 | 1 | 1000 S POINTE DR # 1007 | 2001 | 999,000 | | 360 | N | N |
| M1337585 | PS | ICON CONDO | 2 | 2 | 0 | 450 ALTON RD # 1706 | 2004 | 799,000 | | 164 | N | N |
| M1369006 | PS | MURANO GRANDE | 2 | 2 | 0 | 400 ALTON RD # PH2509 | 2003 | 750,000 | | 138 | N | Y |
| M1320711 | PS | MURANO GRANDE | 2 | 2 | 0 | 400 ALTON RD # 709 | 2003 | 679,800 | | 271 | N | N |
| M1372427 | PS | BENTLEY BAY CONDO | 3 | 3 | 0 | 520 WEST AV # 1602 | 2004 | 555,000 | | 22 | N | Y |
| M1357139 | PS | CONTINUUM NORTH TOWER | 1 | 1 | 0 | 50 S POINTE DRIVE # 612 | 2008 | 540,000 | | 90 | N | N |
Only 2 listings were Short Sales this past month. One at The Murano Grande and the other one at the Bentley Bay South Tower. No REO’s were listed as pending sales.