I'm here in Aventura/ North Miami Beach if you drive up and down A1A you will see skyscrapers with condo after unfinished condo. The inventory is staggering and I anticipate it to continue to rise as they finish building well into 2008-09. However, I feel the happening areas of south beach between 1st all the way up to 50th-60th streets will always sell and always be in demand. People from all over the world want to live on or near South beach, Florida. The closer you can buy to the action the better off you will be.

Thomas Martin

Nobody can accurately predict the future of the markets. We can take some historical data and come to some likely scenario. Miami Beach is a special market, althought prices seem out of control, oceanfront and waterfront property tends to hold on better than others. Miami Beach is all about The Destination, a Lifestyle Miami Beach is second to none.

I recently did some number crunching on condos avail for sale in MIami Beach and found that relative to other markets in Miami prices are remaing relatively steady and inventory is being sold. Example, since June 2007 condos in the Brickel area have only sold about 5.5% of it's total inventory of about 1400 units versus South Beach which has sold about 15% of its total inventory of condos of about 2300 units for sale.

Miami Beach real estate will never go with the flow of the "Miami" market, it truly is a special place to live.

Manny - Great answer. Miami is a complicated market to analyze. I always tell my out of town buyers that Miami has many sub-markets. Buyers just hear all this bad news about Miami real estate and feel that all areas within Miami are affected equally, but boy are they wrong. That is where us, as agents, must educate buyers about what truly happens within our submarkets.

Good luck to all.

The Miami Real Estate market continues to report strong activity levels compared to other parts of the country. Miami, which remains one of the leading real estate markets in the country, is the focus of the Real Estate market’s attention.
Since South Florida is one of the best places to retire in, thousands of people move into the state every week. Both national and international investors buy properties that allow the activity levels of the state to remain high.
The Miami area is a complicated market to analyze since majority of the homebuyers are not from Miami. Most wealthy people from South and Central America have second homes in Miami.
Listing have drop recently, but it is directly because listing have expired and sellers are reluctant to re-list.
I believe in looking a the numbers that only 35% of listing will sell.
Price Right and you will sell.

The Keyes Home Team

Best Regards

Manny A.

I have seen a softening in the markets, but I don't think it will last much longer. We still have a robust economy and good demand (ex-investors) so prices will likely rise again soon.