Miami Waterfront Condos Priced Over $1 Million- Statistical Analysis

We report our day to day experiences with the very active luxury oceanfront condo market in Miami, Ft. Lauderdale and Palm Beach. We wanted to share the actual statistics behind what we are seeing.

Below is data on the price per square foot of waterfront condos priced over $ 1 million in Miami.   (The data does not allow me to specify just oceanfront so intra coastal pricing is included as well.  The numbers would look somewhat different if they were specifically oceanfront.)  We have included two different time frames. The most recent data which is reflected in a chart from December 2006- February 2008. The second chart goes back in time from October 2005 through December 2006.

There are spikes and dips, but for the sake of interpretation, if we average the last 6 months of sold prices it averages out to $713 per square foot as an average. Going back in time to the 2005-2006 time frame the average price per square foot over a 6 month period was $700 per square foot.

Several conclusions can be made from this data. Simply put, I will say that this is not reflective of the general housing market.

Miami Oceanfront Condo Statistics Price Per Square Foot

Miami Oceanfront Condo Statistics Price Per Square Foot 2005-2006

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