South of Fifth Market Stats
Luxury Living in South Beach is largely synonymous with living in the South of Fifth neighborhood. Multiple waterfront towers often designed by world-reknown architects, within walking distance to some of the best restaurants, and adjacent to the Beach, Marina, and South Pointe Park. It’s pretty special! Sales in the neighborhood vary from building to building for a variety of reasons ranging from purchase price, to amenities, to impact of large construction projects and related special assessments, and even to then location within the neighborhood. A balanced Real Estate market is generally considered one where there is an inventory of properties that can generally be absorbed within 6-9 months. When it takes longer for properties to be absorbed (sold) it is generally considered to be a Buyers market, and when it takes less time, a Seller’s market. The chart below shows in blue, how many units are currently on the market in each building, and in green, how many have been sold in the past 6 months. So if the bar chart for each building showed two columns of equal height it would be indicative of a balanced market. As you can see by clicking the first link below, there is a significant disparity among the buildings. Clicking on the second link will give a clearer picture of the range of disparity among the buildings which goes from a few months to more than a few years.
