According to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI), September marks the highest level for builder confidence for newly built, single-family homes since June of 2006. This is yet another signal pointing to a stronger housing market! Most specifically, Miami Beach’s waterfront Homes market has been on fire. As can be seen at the bottom of this post, we have seen tremendous sales volumes for Miami Beach luxury homes over $1,000,000 in recent months.
The Housing Market Index (HMI) has been slowly inching upward over the last few months and actually rose three more points in September, resulting in consecutive gains over the last five months, and an HMI of 40.
According to the builders surveyed (based on 445 respondents), buyer confidence, current sales conditions, prospective sales prospects, and prospective buyers all saw an increase this month, indicating that buyers are interested in looking at new homes nationwide including waterfront homes in Miami Beach. A four point increase has been seen in the South boosting Miami Beach homes sales. Other increases nationwide includes a nine point increases in the Northeast, four point gains in the Midwest and a five point gain in the West.
If you’d like to learn more about new or existing Miami Beach homes, give me a call and I can show you what is currently available and what you can expect to see in the near future. With home building confidence on the rise, your Miami Beach real estate buying options increase and you may be surprised at what you discover.
While the increase indicates a swing towards recovery and more demand for housing, more improvement is needed to create jobs, secure materials, lots, and needed credit to get projects started.
“Builders across the country are expressing a more positive outlook on current sales conditions, future sales prospects and the amount of consumer traffic they are seeing through model homes than they have in more than five years,” noted National Association of Home Builders (NAHB) Chief Economist David Crowe. “However, against the improving demand for new homes, concerns are now rising about the lack of building lots in certain markets and the rising cost of building materials. Given the fragile nature of the housing and economic recovery, these are significant red flags.”
To view the actual HMI tables and other related statistics, click here.
Miami Beach Luxury Home Sales Update
|Sales Date||Property Address||List Price||Living Area||Sales Price||SP$/SqFt|
|9/24/2012||200 N HIBISCUS DR||$ 1,494,000||3455||$ 1,325,000||$ 384|
|9/24/2012||4730 N BAY RD||$ 8,000,000||9562||$ 6,800,000||$ 711|
|9/11/2012||425 N SHORE DR||$ 2,590,000||4700||$ 2,350,000||$ 500|
|9/7/2012||4411 PINETREE DR||$ 7,900,000||11878||$ 7,250,000||$ 610|
|9/5/2012||5024 ALTON RD||$ 1,475,000||2874||$ 1,350,000||$ 470|
|8/30/2012||6480 ALLISON RD||$ 4,250,000||6058||$ 3,840,000||$ 634|
|8/30/2012||4653 N BAY RD||$ 1,350,000||1905||$ 1,200,000||$ 630|
|8/27/2012||100 LA GORCE DR CR||$ 13,900,000||10056||$ 11,000,000||$ 1,094|
|8/25/2012||939 W 47 CT||$ 1,295,000||3492||$ 1,250,000||$ 358|
|8/22/2012||1435 W 27 ST||$ 4,700,000||4387||$ 4,150,000||$ 946|
|8/20/2012||2520 SHELTER AV||$ 2,200,000||3887||$ 1,690,000||$ 435|
|8/16/2012||805 N SHORE DR||$ 1,490,000||2851||$ 1,275,000||$ 447|
|8/15/2012||306 W SAN MARINO DR||$ 2,750,000||2576||$ 2,550,000||$ 990|
|8/9/2012||549 W 47 ST||$ 2,490,000||4512||$ 2,200,000||$ 488|
|8/4/2012||6919 VALENCIA DR||$ 4,995,000||5502||$ 4,500,000||$ 818|
|8/3/2012||428 S HIBISCUS DR||$ 5,999,999||4228||$ 5,195,000||$ 1,229|
|8/3/2012||6455 ALLISON RD||$ 2,950,000||4309||$ 2,800,000||$ 650|
|8/3/2012||1430 STILLWATER DR||$ 1,295,000||3174||$ 1,250,000||$ 394|
|8/2/2012||721 E DILIDO DR||$ 2,300,000||3181||$ 2,300,000||$ 723|
|7/31/2012||5501 PINETREE DR||$ 2,400,000||4748||$ 2,350,000||$ 495|
|7/28/2012||1649 W 22 ST||$ 5,395,000||4655||$ 3,100,000||$ 666|
|7/24/2012||4821 PINETREE DR||$ 19,800,000||18006||$ 13,100,000||$ 728|