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Elliman Report: Miami Beach + Barrier Islands Sales 4Q 2014
Rising housing prices within the Miami Beach and Barrier Island region are pulling in additional re-sale inventory to a market that has long seen limited supply that held back sales. Despite the 20% increase in listing inventory, there was a 7.9% decline to 1,061 condo and single family sales from the prior year quarter. The absorption period, the number of months to sell all existing inventory at the current pace of sales, increased to 11.3 months from 8.6 in the prior year quarter. Rising prices and a strengthening U.S. dollar are helping to temper the blistering pace of the past several years…
