Miami Condo Sales 2014 – A Pricing Band Analysis
Miami Pre-construction is a hot topic around the world and Miami continues to serve as a safe haven for international and domestic buyers. As of today in the premier areas of Miami Dade County with search parameters East of I-95, there are 7,726 condos available for sale. Within these same desirable areas, 8,582 condos sold in 2014 with many other condos closing before the end of the year.
This was a record setting year for Miami-Dade County. Top building sales include Continuum, St. Regis, Edition Residences, Setai, Regalia, Bayview at Fisher Island, Jade Ocean, Oceana Key Biscayne and Apogee South Beach. Selling prices in South Beach elevated $3,000 to $4,000 per square foot while Sunny Isles Beach, Surfside and Bal Harbour approached $2,100 PSF. 1000 Museum in Downtown Miami and select luxury towers in Brickell had new & pre construction sales over $1,500 per square foot. These trends continue on the upswing into the new year with what many now consider the sixth borough for New York and in the exclusive world of luxury real estate, this could not be truer.
Here is a pricing band analysis on where the majority of buyer’s have acquired premier Miami real estate.
(all figures derived from South Florida MLS database)
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I know Miami Beach Real Estate. If you are interested, or know someone interested in buying or selling a luxury condo in Miami, it’s essential to work with someone who knows the neighborhood. As this year comes to an end and Miami’s inventory begins to rise both physically and at a speculative future value, I believe prices show in favor of selling. We remain in a seller’s market with buyers worldwide looking at luxury real estate in Miami. For a more finite analysis including your luxury condo building, contact me today and I will break down optimal pricing with what it takes in selling faster and for top dollar. Now is a great time to sell while confidence remains high in our local market.
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