In addition, countless new condominium structures have been built in the past several years in the Miami area, and many more are being constructed presently. Getty. Miami Real Estate Forecast. From The Real Deal: "Greater Downtown Miami has more than 30 months — or two-and-a-half years — of supply of condos, and 100 months — or more than eight years — of supply of luxury units, according to an analysis of … Private, Celebrity-Favored Enclave Bay Point, Miami, Logs Record $11.3M Home Sale . Just when you thought Miami couldn’t push the boundaries of luxury any more, it did. Post navigation. In Florida, you will see a bewildering mix of optimism, opportunism and denial in the real estate market: luxury condominiums going up in flood-prone South Beach, and … Luxury … Miami Real Estate Market Reports. March 27th - April 3rd - 37 March 20th - March 26th - 22 Last Year's Numbers - 54 . An extension of its citizens, the county offers a rich diversity in its luxury lifestyles, from the glamour of South Beach to the Mediterranean-infused affluence of Coral Gables and natural beauty of Pinecrest. How have Miami’s best neighborhoods performed during Covid-19 from March to September? In this report, put together by our group of Real Estate experts, we provide data for the behavior of this specific market over the past 6 months. Where are the opportunities right now? The Miami Beach Luxury Homes Real Estate Market is not as active as we would like it to be with only 11 sales above $1,000,000 this year (from January 1st to today). In my experience, trends in Miami real estate also tend to lead national trends by a few quarters. South Florida Sun Sentinel | Sep 09, 2020 at 7:00 AM . The Miami Beach Luxury Condo Market was totally different with 23 sales over $1,000,000 this year. By Amber Randall. Miami real estate experts with a focus on Coral Gables, Coconut Grove, Key Biscayne, Pinecrest, High Pines and Miami MARKET REPORTS – Luxury Homes Miami | Real Estate by Gloria Marina Luxury Homes Miami Sales, listings and prices all climbed as the pandemic shutdown eased. In the modern real estate market in growing areas, housing is partially a place to live and partially an investment. From 360 degree views to private car galleries, these luxury homes take luxe living to the next level . Art is fast becoming Miami’s must-have amenity in luxury real estate. The luxury real estate market commonly has properties listed above true market value. And he plans to admire some of them from his couch in a swank Miami high-rise building, with the ocean in the background. Median Sale Price – One Year Trend Median Days on Market – One Year Trend Inventory – One Year Trend Market Action Index – One Year Trend Home Price Trends Need a different Market Report? Miami has a highly cyclical property market where the magnitudes of the booms and busts dwarf anywhere else in the country. If you, or someone you know, would like to purchase or sell real estate in Coconut Grove, please contact me, Michael Light, Founder/Owner of the Miami Luxury Homes group at Douglas Elliman Real Estate. Therefore, smart guys always watch Miami. A booming, diverse population and varied career opportunities have generated a high demand for homes, particularly in the Miami-Dade County luxury homes market. Miami Skyline with palm trees. Enjoy these up to date Miami Market Statistics! Condos, being a place to live and an investment, have a role to play. In the luxury market ($1-million-and-up), Miami single-family homes jumped 34.5% to 78 transactions. North Beach, while not lacking in luxury, is more understated and serene. 2008 Miami Mainland & Barrier Island Real Estate Closed Sales Above $1M USD: Total Number of Sales: 792; Total Sales Volume: $1,717,164,171 ; Average Sales Price: $2,168,137; Median Sales Price: $1,557,500; Average Sales Price Per SQ/FT: $631.90; Median Sales Price Per SQ/FT: $582.80; As you can see above, 2018 was the new king of the Miami market, crushing 2008 in the luxury sector. For example, a commercial brokerage concentrating on emerging markets picked up a pair of warehouses in the Little River neighborhood near Miami Beach with plans to convert it into business space. With an average sales price of $2,082,250.00 and an average price per square foot of $568.96. Subscribe today … Dollar Volume Increases, Inventory Decreases Single-family home dollar volume increased 16.1% year-over-year, from $406.4 million to $471.7 million. These numbers are for Miami-Dade County's luxury real estate market (Residential Real Estate Properties $1 Million+). People tend to look at this as a bad sign, a sign of unstable market or a sign of a hot and cold weather when it comes to real estate forecast. The Miami Beaches (Miami Beach, Surfside and Bal Harbour) follow generally similar trends as the Downtown Miami market, although the ultra-luxury market skews the numbers a bit. Inventory is low and buyers are out there. Next Portfolio Plantation Real Estate Market Reports. Even as Miami’s luxury real estate market skyrockets, the neighboring areas are seizing upon the momentum. The Miami luxury real estate market, which includes both new and existing construction properties, has experienced record sale activity in the last few years. The Mansions at Acqualina, a 47 story condominium located on the beach in Sunny Isles, released photos of its finished units via Curbed Miami.A movie theatre, wading pools, a cigar room and a video game room are only some of the amenities available to residents. Every type, style, and specific location and aspect of every piece of property currently on the market that will match the buyer's purchase criteria. Luxury Miami existing condos increased 6.5% to 49 transactions in January 2020. Miami luxury real estate market sees increasing demand from foreign investors. Please Complete to View Market Report. Over all, Miami’s real estate market is thriving. Is the economic pressure translating into pressure in the Miami real estate market? Jun 10, 2017 | By AFP Relaxnews SHARE; Property developer Gil Dezer owns 29 cars. For most people the Luxury real estate market especially in the Miami area are the ones that they think will never going to be shaken. Everything about the Miami real estate market and individual Miami neighborhoods. Previous Portfolio Hallandale Beach Real Estate Market Reports. While sales prices for condos appear to have increased from 2017-2019, when you exclude new construction (2014+) properties, you see the trend of sale $/sq ft dropping from 2016-2018. Your Name (required) Your Email (required) As those familiar with the real estate market in Miami know all too well, the luxury market has slowed substantially over the past eight or nine months, and sellers have had to lower their asking prices. The county’s median price last month was $270,500, which has climbed 26 percent from a year ago. The real estate market is booming in South Florida. And they’ve been snapping up lots of luxury real estate, particularly in the $10 million-plus price point, according to Danny Hertzberg, sales-associate at The Jills Zeder Group. Subsequently, many people believe that Miami could become an alternative to the Hamptons, the luxury seaside area of Long Island. How did Covid-19 impact the Miami real estate market? The US housing market outlook for 2020 is improving and the outlook for the Miami Dade County market is a little healthier in June’s real estate sales report reveals. Miami could be partially underwater and unlivable within 80 years, science indicates. My local Miami Market Statistics are updated every few days – to keep you up to date. It sounds like you’ve never visited any “rent vs. buy” sites or ever made a spreadsheet to calculate your expected future wealth in a buy vs. rent scenario. Where are the risks right now? But lo and behold it is showing signs as early as now. Despite the reassuring figures that demonstrate the growth of the real estate market in Miami, some brokers believe that the prices of homes are destined to decrease after the continuous growth since 2009. Those two anecdotes are to say that the Miami real estate market is HOT right now. Now that you have seen some of the listings, understanding the data might be helpful to feel the market for Miami Beach Luxury Homes above 1 million. If you are looking to buy or sell a home anywhere in Miami, please call me at 305-798-8685, or visit my website at: Luxury Miami Real Estate. From a $1,250,000 3 bedroom / 3 bathroom residence at Aqua at Allison Island to a $7,000,000 3 bedroom/4 bathroom residence at Il Villaggio . If you are looking to sell your home, then now is the time! Top Market Miami. ; Despite the dire predictions, wealthy home buyers are still snapping up luxury waterfront real estate. Broward County’s, the county to the north of Miami-Dade, luxury housing real estate market is fierce, according to August data. Strong sales have been witnessed and recorded in some neighbourhoods and price points. Pointing Out On Miami Luxury Real Estate Market I told my friend that Miami’s number isn’t that bad when it comes to Luxury real estate the waterfront properties are stable although he did point out that many wealthy people are discounting their mansions with cutbacks he said that he knows a famous celebrity who decreases almost 14% on the price of the property they are selling. Mansion Global. August was the ninth … Miami luxury real estate: 100 month supply! March 27th - April 3rd - 13 March 20th - March 26th - 15 Last Year's Numbers - 41. My statistics are free and easy, so you can be “in the know” with absolutely no risk. The Miami Real Estate Market is constantly changing. March 27th - April 3rd - 68 March 20th - March 26th - 52 Last Year's Numbers - 177. . The 2020 Q2 & Q3 Miami Real Estate Report: The Miami Beach Real Estate Market Inside Rise Condo Unit 2905 in Brickell | A Furnished 2 Bedroom Condo for Sale The Best New Homes for sale in Coral Gables and Coconut Grove in 2020 Is this luxury market sustainable? I am a resident of Coconut Grove and have direct knowledge of the Coconut Grove real estate market. Here are tips for buyers and sellers looking to jump in .