Bay Harbor Islands Housing Market Report for March 2013

Bay Harbor Islands Real Estate Market Report

There are currently 13 Bay Harbor Island Homes for sale: (2 more than last month)

• Highest priced listings is for $5,750,000 (9800 W Broadview Dr) **pictured above
• Lowest priced listing is $ 685,000 (1260 96 St – lowered from $749,000)
• Pending Sales (properties under contract): 1 (2 less than last month)
• Closed sales in March: 0 (compared to 1 last month)

No Bay Harbor Island Home sales for the month of March but this is how this  market has been behaving.  Remember there is not much inventory and the area is small.  There have been only 4 home sales in 2013 in Bay Harbor Islands and they have all been under the $2 Million range – curious to see how the big-ticket inventory will move.  Out of the 13 Bay Harbor Island Homes listed for sale right now, 8 of them are above $2 Million and 3 above $4 Million.  Only time will tell how these luxury homes will compare to the rest of Miami Beach.

There were 9 Bay Harbor Island Homes sold in 2012 with a median sales price of $1,125,000 and average price per square foot of  $366. Bay Harbor Island’s sales have been slow and in-between, but it only strengthens the fact that the area is desirable and little for sale inventory is always good.

Click here to search for Bay Harbor Islands homes for sale