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April 2014: Monthly Single Family Home Update

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The real estate market is constantly in motion, and sometimes it can be a bit overwhelming to keep up with it as a consumer. Every month, I aim to give you a quick market snapshot so you can see what is going on in the neighborhood where you live or the neighborhood in which you'd like to buy a property. Remember, a month's worth of information is different than an over-time analysis, so please let me know if you have any questions.

Pinecrest

As of mid-April, there are 79 properties in Pinecrest on the market that are priced over $1 million. The average listing price is $2.3 million. The average square footage of the houses is 4,483 sq. ft. This makes the average list price/sq. ft. equal $513/sq. ft. The average size of the lots is 23,167 sq. ft. The properties range from four (4) to eight (8) bedrooms and three (3) to 10 bathrooms.

In the past month, five (5) properties have sold for more than $1 million in Pinecrest. The average list price was $1.9 million, and the average closing price was $1.8 million. Theses houses averaged a living area of 5,590 sq. ft., making $322/sq. ft. the average sale price/sq. ft. They were sold after seven (7) months of being on the market, on average.

South Miami

As of mid-April, there are 11 properties in South Miami on the market that are priced over $1 million. The average listing price is $1.8 million. The average square footage of the houses is 4,616 sq. ft. This makes the average list price/sq. ft. equal $390/ sq. ft. The average size of the lots is 17,527 sq. ft. The properties range from three (3) to six (6) bedrooms and two (2) to six (6) bathrooms.

In the past month, no properties in the South Miami market have been sold for more than $1 million.

Coral Gables

As of mid-April, there are 198 properties in Coral Gables on the market that are priced over $1 million. The average listing price is $3.7 million. The average square footage of the houses is 5,600 sq. ft. This makes the average list price/sq. ft. equal $661/sq. ft. The average size of the lots is 24,115 sq. ft. The properties range from three (3) to 11 bedrooms and two (2) to 13 bathrooms.

In the past month, 18 properties have sold for more than $1 million in Coral Gables. The average list price was $2.1 million, and the average closing price was $1.9 million. These houses averaged a living area of 4,174 sq. ft., making $455/sq. ft. the average sale price/sq. ft. They were sold after a little more than three (3) months of being on the market, on average.

Miami Beach

As of mid-April, there are 211 properties in Miami Beach on the market that are priced over $1 million. The average listing price is $5.9 million. The average square footage of the houses is 4,687 sq. ft. This makes the average list price/sq. ft. equal $1,259/sq. ft. The average size of the lots is 14,804 sq. ft. The properties range from two (2) to 10 bedrooms and one(1) to nine (9) bathrooms.

In the past month, 24 properties have sold for more than $1 million in Miami Beach. The average list price was $5.8 million, and the average closing price was $5.1 million. Theses houses averaged a living area of 5,180 sq. ft., making $985/sq. ft. the average sale price/sq. ft. They were sold after about five (5) months of being on the market, on average.

Coconut Grove

As of mid-April, there are 84 properties in Coconut Grove on the market that are priced over $1 million. The average listing price is $3.4 million. The average square footage of the houses is 5,176 sq. ft. This makes the average list price/ sq. ft.equal $657/sq. ft. The average size of the lots is 16,366 sq. ft. The properties range from three (3) to 12 bedrooms and two (2) to nine (9) bathrooms.

In the past month, 11 properties have sold for more than $1 million in Coconut Grove. The average list price was $2 million, and the average closing price was $1.8 million. These houses averaged a living area of 4,030 sq. ft., making $447/sq. ft. the average sale price/sq. ft. These homes were sold after a little less than three (3) months of being on the market, on average.