South Florida Waterfront Property Values Holding Strong

A recent article in The Miami Herald addressed property value trends in different segments of the South Florida real estate market.

The article found that while distressed properties in Miami-Dade County are pulling sales prices down in some South Florida areas, new construction and non-distressed resales are actually doing quite well!
The segment of the South Florida real estate market that is doing best, according to a well know property appraisal firm, are the non-distressed resales in the coastal communities of Miami-Dade County.

In that segment of the South Florida real estate market, sales are comparable to 2005 levels.

And if you don’t consider the area’s foreclosures and short sales, sale prices are steady.

South Florida Real Estate Market

Here’s some of the other South Florida real estate market data that the Miami Herald recently reported:

  • There were 5,101 existing home sales in the first quarter in the South Florida coastal market.  This is the highest it’s been in five years.
  • The average sales price for non-distressed home in the coastal communities of Miami-Dade County was $482,870, which is an increase of about 0.4 percent.
  • List prices and sales prices are more closely matching up now.  For instance, the difference between list and sales price went from 11.6 percent last year to 8.3 percent this year.

All of this means that the South Florida real estate market is starting to return to stable conditions in which it’s not skewed toward a buyer’s market. This is no doubt great news for South Florida home sellers.

Listing Your South Florida Home for Sale

If you’re thinking about selling your South Florida home, then contact me, Scott Patterson.

As your South Florida real estate expert, I have real estate experience in several of the South Florida communities, including Aventura, Bal Harbour, Davie, Hallandale, Hollywood, Golden Beach and Sunny Isles.

When you list your South Florida home with me, I’ll work hard to ensure that we get the best sales price on your home and in as little time as possible.

Until next time,
Scott

Golden Beach Florida

Here is one of the aerials I took of Golden Beach while photographing different market areas and listings via helicopter.

Golden Beach Florida sits on 1.8 miles along the northern most portion of Ocean Blvd (State Road A1A) at the Miami-Dade/ Broward County line in South Florida. This exclusive town is bordered by the Atlantic Ocean to the East, the Intracoastal Waterway to the West, and the coastal cities/communities of Hallandale Beach (Golden Isles) to the North and Sunny Isles Beach to the South. Also, Golden Beach is situated between both Miami (Miami Beach) and Ft. Lauderdale and minutes to The Shoppes of Bal Harbour.

The History of Golden Beach

Golden Beach Florida was incorporated in 1929 and has become one of the most desirable places to live in South Florida. One of the most recent purchases was Ricky Martin, who purchased 641 Ocean Blvd for $17,500,000… This small quiet community has maintained its family lifestyle in a mile-long sanctuary of 370 single-family homes that are mostly located on the Intracoastal and its waterways or directly on the Atlantic Ocean. The Town Charter protects Golden Beach from commercial activity of any kind and forbids the construction of high rise condominiums that saturate so many beach front communities in South Florida. A beautiful mile and one-eighth of private beach with a historic beach Pavilion, 3 parks, and a committed sense of community have attracted talented, discerning residents from all over the world to this idyllic town located only 18 miles from Miami International Airport and 15 miles from Ft. Lauderdale International and Port Everglades.

Golden Beach provides security through its own Police Department. The Building and Zoning Department, Finance and Administrative Department, and the Public Works Department provide other services.

Golden Beach Florida is a beautiful and unique place to live!