Waterfront Home Prices in Miami Beach Dropped Nearly 25 Percent Last Year
On the off chance you haven't heard yet, 2009 was not a very good year for the economy. Which means it wasn't a very good year for real estate, especially not luxury Miami real estate.
In their wrapup of year-end stats, the South Beach Real Estate blog notes prices per square foot dropped 24.8 percent year-over-year in Miami Beach for waterfront homes. Buying a single square foot in 2008 would have cost about $934. In 2009, that same average square foot would have cost only $702.
The total number of waterfront sales in Miami Beach south of 63rd Street was slightly down to 42, from 49 in 2008.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you’ll never miss Miami New Times' biggest stories.
- Baseball Player's Former Assistant Sold His $167K Boat Behind His Back in Opa-locka
- Goat Blood-Drinking Senate Candidate Tried to Get Miley Cyrus' Endorsement
- Poll: Floridians Really Don't Want Guns on Campuses