My firm’s 2016 Trends Report has been released. Rich with data, and the finished product dives into the current state of the market in the most desirable South Florida enclaves. The region has matured into a more diversified and vibrant economy. Buyers are finding themselves with more opportunity, but the best-in-class, newer projects still represent good long-term value in the luxury condominium market. Our 2016 forecast is that sellers will see more competition and buyers will be more selective.
Going further, the report shows snapshots of different categories. In the $1 Million – $5 Million price class, luxury pricing is stabilizing. The $5 Million – $10 Million class showed consistency. And finally, the $10 Million+ category performed quite well with with 22 transactions in Miami-Dade averaging $17 Million.
Within my area of specialty, Miami’s South End, the single-family home waterfront arena data proves Coral Gables remains a neighborhood to watch. The 2015 average price per square foot was $737 marking a 12% increase over 2014 performance and a 61% increase over 2011 performance. Leverage my data driven command of the South End area by reaching out for a private consultation.
With over 13 years of experience and an established reputation as one of the top producing agents at ONE | Sotheby’s International Realty, I live to share my luxury real estate expertise with clients looking to buy and sell in Coral Gables and surrounding South Florida communities. Find all information about my background and services on my website.