Over 40% of sales of single family homes in Miami Beach were waterfront

In the last 6 months,  over 40% of closed sales in Miami Beach for single family homes were waterfront. This is quite a coup as waterfront sale had been lagging and inventory levels are down to 2 year supply versus 2.5-3 year supply at beginning of the year.

In general, 20% of all sale in last 6 months were in the $ 1 – 2 million bracket and 25% over $ 2 million +. Encouraging and it appears buyers are pulling the trigger in the higher price brackets.

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