As we are wrapping up the busy season here in Miami, we are blessed to still have this beautiful weather! The 1st Quarter of this year has shown strength in the Real Estate market. In general, sellers have readjusted their expectations regarding the value of their homes and prices have decreased accordingly. Some key outliers in this were two properties. One being a brand new single-family waterfront home on the Venetian Islands that sold for $17M ($2,400 per sqft) and another in home in Coconut Grove which sold for $19.75M ($2,000 per sqft). Both of these records were set by our brokerage.
Key Highlights
Miami Beach (5th-63rd) | Condominiums
- Sales Price Down 1.8%
- Closed Sales Down 15.9%
Miami Beach | Single Family Homes
- Sales Price Down 27.5%
- Closed Sales Down 24.4%
Contact me for the Market Trend in your area.