Bay Harbor Islands August RE Sales

We have many exciting plans in our pipeline that we can’t wait to share! Get ready to grow with us here at The Bay Harbor View. Over the last few months, we have focused on becoming more involved in the local community and committing to our direct mail market plan. It has resulted in increased istings and business (YAY!) and we feel it is time for us to grow bigger. Stay tuned..

On the real estate front on the Islands, sales have slowed and inventory has slightly increased. Sellers with the expectations that the market is going to continue to rise and price their listings higher than the market, are experiencing long listing periods and thus higher frustrations. As a result, we have shifted to a buyer’s market and are gearing up to capture our local buyers.

To assist both our buyers and sellers, we have done an analysis diving into Bay Harbor Islands’ successful closings on the MLS over the month of August, 2016. In total, there were 9 real estate transactions that were recorded on the MLS in August. Of these, 7 were condos and 2 were single family homes. See below for the details on each class with a further breakdown into waterfront and non-waterfront sales.

Non-Waterfront Single Family Homes Sold in August 2016
For comparison purposes, see below for a table on sales volume over the duration of the prior 6 months.

As one can see, there is no obvious seasonal pattern with closed sales in Bay Harbor Islands. February is considered “high” season with May-July being “slow” season, however June and July saw strong numbers. When we look at condo and single family home sales from one year ago in August 2015, we see similar numbers with 12 condos and 0 single family homes sold. As a result, Bay Harbor Islands real estate market appears to be holding up during this real estate slow down Miami is currently going through.

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