Condominium inventory increase for July 2006 compared to June 2006
Areas: 12,22,32,42 |
|
|
|
|
$ Million |
|
|
|
|
| |
|
|
|
|
| $1,000,000 - $14,999,000 |
9 |
0,09 |
8 |
0,08 |
| $8,000,000 - $9,999,000 |
13 |
0,13 |
13 |
0,12 |
| $6,000,000 - $7,999,000 |
18 |
0,18 |
18 |
0,17 |
| $4,000,000 - $5,999,000 |
54 |
0,54 |
56 |
0,53 |
| $2,000,000 - $3,999,000 |
339 |
3,38 |
341 |
3,24 |
| $1,500,000 - $1,999,000 |
304 |
3,04 |
306 |
2,91 |
| $1,000,000 - $1,499,000 |
579 |
5,78 |
598 |
5,68 |
| $800,000 - $999,000 |
580 |
5,79 |
599 |
5,69 |
| $500,000 - $799,000 |
2087 |
20,84 |
2143 |
20,36 |
| $300,000 - $500,000 |
3225 |
32,20 |
3287 |
31,24 |
| $300,000 |
2807 |
28,03 |
3154 |
29,97 |
| |
|
|
|
|
Total |
10015 |
|
10523 |
|
| |
|
|
|
|
Total Condos Inventory |
As of June 2006 |
As of July 2006 |
|
|
| |
10015 |
10523 |
5% |
|
Our analysis of condomiums offered for sale in Miami, Miami Beach Aventura and Sunny Isles indicates that the trend that started since the begining of 2006 keeps going the same direction.
New listing of condominium are being added to already an inflated inventory and shows a 5% increase.
We note that categories of condominium identified by price ranges stay in the same percentage range in July compared to June 2006, the 5% increase apply to all categories pretty much with the same weight.
The number in itself does not seem high but when put in perspective if we keep the same trend this would be mean a yearly inventory increase of 70% for the coming 12 months.
Contributor: Eric Harari for MLR Realty news posted August 10 th 2006: |
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