FYI Miami: May 15, 2014
CONDO RESALES SLOWER: Resale condos are selling more slowly in Miami-Dade this year than last, as the average condo stayed on the market 57 days this year versus 48 days last year, the Miami Association of Realtors reported Tuesday. The average for a resale home on the market was 47 days in the first quarter versus 46 days during the same period last year. The number of condo resales in the first quarter was 3,859 in the county, up 1.3%, the association said, while 2,893 single-family home resales was up 7.4% from the first quarter of 2013. The mean price of a resale condo was $359,860 while the median was $187,500. The mean price of a resale single-family home was $430,312 and the median was $230,000.
CRUMBLING CAUSEWAY: Miami-Dade commissioners have set a public hearing for Tuesday on a plan to fund repairs to the Venetian Causeway by taking money from other bridge projects. The proposal calls for reducing the Sonovoid Bridge Improvement Program by $6.8 million, reducing the Southwest 296th Sonovoid Bridge project by $300,000, canceling the Palmer Lake Bridge project for a savings of $3 million, and earmarking the resulting $10.1 million in savings for a West Venetian Bridge Replacement. The money would be used for work at the west end of the Venetian Causeway, where a Miami-Dade transit bus got stuck in a hole that opened as the bus drove over a weak part of the bridge in March.
STEPPING OUT: Walk Score, a company that promotes walkable neighborhoods and provides a walkability index, ranked Miami fifth in walkability in the US and added that Miami is one of America’s cleanest cities. The city is bragging about the ranking on its website. “We believe that walkable neighborhoods with access to public transit, better commutes, and proximity to the people and places you love are the key to a happier, healthier and more sustainable lifestyle,” says Walk Score. Top neighborhoods listed are downtown, Little Havana and Wynwood/Edgewater. The company said Miami “is a mecca for beaches, nightlife and bicycles.” Walk Score analyzes hundreds of walking routes. Points are awarded based on the distance to amenities in each category – 90-100 is considered a Walker’s Paradise where daily errands don’t require a car. A score of 70-89 is Very Walkable, where most errands can be done on foot. Miami’s score is 75.6. Tops, at 87.6, is New York. San Francisco ranked second at 83.9, Boston third at 79.5 and Philadelphia fourth at 76.5. Details: www.walkscore.com/cities-and-neighborhoods.