Good News for New Home Buyers – Miami Beach Sales on the Rise

 

New Home Buyers in luck as builders' confidence Increase.If you’re buying a new home in Miami Beach, you are not alone!

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.

Were you one of those prospective new home buyers in Miami Beach?

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

 

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