Facts & Trends
The last several months of real estate activity across South Florida’s luxury markets has been exceptionally strong. Waterfront homes under $1 million were nearly impossible to find, with luxury single-family houses selling at historically high prices in many communities. In fact, on and off the water, both homes and condos have been setting price per square foot records and spending less and less time on the market. The only problem in South Florida real estate at the moment is scarce inventory; there are simply more buyers than there are buying opportunities, which is proving a boon to sellers. In most cases, listings are going under contract in just 2-3 months, and the only market where waterfront homes and condos have been taking longer to sell is Miami Beach, where luxury properties are averaging 6 months from listing to close.
For more information on each specific neighborhood of Miami, please enjoy our market by market analysis of all things real estate. From Coconut Grove to Coral Gables – Pinecrest to South Miami – and Key Biscayne to Miami Beach – Brown Harris Stevens Avatar has the expert team and insights to help you in the purchase or sale of your next home or investment property.