2007 Miami-Dade County Real Estate Market Conditions Summary – Biscayne Park

Biscayne Park Real Estate Market Condition Summary for 2007

38.39% drop in home sales – 38.67 % in condo sales

Biscayne Park Real Estate is comprised of single-family homes except for an occasional condo.

You can see by the graph that there was a 44% decrease in sales in 2007 from the previous year. This number is higher than Miami-Dade County?s 38%. We have noticed that smaller communities like Biscayne Park, do get hit the hardest during down markets.

The average price of a Biscayne Park home in 2006 in was $414,366 where in 2007 that average went down to $371,736. Evidence in price decreases in Biscayne Park is seen in the average price per square foot: at $247.74 in 2006 compared to $214.94 in 2007 ? that?s over $32 /square foot less!

There are currently 53 active single family home listings in Biscayne Park, which means about 36 months of inventory.

**all information derived from SEF Multiple Listing Service**