Miami Ultra-Luxe Condo Inventory by Location – Buyer’s Market $5M+

St. Regis Bal Harbour

Miami Ultra-Luxe Condo Inventory by Location

With Miami’s ultra-luxury condo inventory abundant, prices are coming down and awesome deals are being made. I’ve relayed often for the past few years, buyers are winning and will continue winning throughout next year.

Reasons Why:

  1. Ample new construction; speculators were told they should buy pre-construction before prices went up and make a profit on the resale. Now it’s time to deliver and with the South Florida residential market speaking volumes, the truth is revealed.
  2. Stronger US Dollar; International buyers wait & watch Miami patiently.
  3. Government Sanctions ie.) Russia & Sunny Isles Beach aka Little Moscow.
  4. FinCEN (now at $300k+); Gov’t agency scrutinizing all residential sales.

Here are the year-to-date sales figures on our 2018 Miami residential condo resales.

Fisher Island

$5 to $10M

  • Available Units – 13
  • 2018 SOLD (YTD) – 1
  • Median SP$/PSF – $1,546 psf
  • Average DOM – 108
  • Ave. Buyer Discount – 13%
  • Today’s Best Discounts.

$10M to $15M

  • Available Units – 7
  • 2018 SOLD (YTD) – 3
  • Median SP$/PSF – $1,704 psf
  • Average DOM – 498
  • Ave. Buyer Discount – 16%
  • Today’s Best Discounts.

$15M+

  • Available Units – 4
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

Key Biscayne

$5 to $10M

  • Available Units – 15
  • 2018 SOLD (YTD) – 4
  • Median SP$/PSF – $1,274 psf
  • Average DOM – 327
  • Ave. Buyer Discount – 10%
  • Today’s Best Discounts.

$10M to $15M

  • Available Units – 1
  • 2018 SOLD (YTD) – 3
  • Median SP$/PSF – $1,818 psf
  • Average DOM – 74
  • Ave. Buyer Discount – 21%
  • Today’s Best Discounts.

$15M+

  • Available Units – 1
  • 2018 SOLD (YTD) – 1
  • Median SP$/PSF – $1,818 psf
  • Average DOM – 59
  • Ave. Buyer Discount – 29%
  • Today’s Best Discounts.

South Beach

$5 to $10M

  • Available Units – 60
  • 2018 SOLD (YTD) – 23
  • Median SP$/PSF – $2,069 psf
  • Average DOM – 237
  • Ave. Buyer Discount – 8%
  • Today’s Best Discounts.

$10M to $15M

  • Available Units – 9
  • 2018 SOLD (YTD) – 6
  • Median SP$/PSF – $3,132 psf
  • Average DOM – 307
  • Ave. Buyer Discount – 14%
  • Today’s Best Discounts.

$15M+

  • Available Units – 7
  • 2018 SOLD (YTD) – 1
  • Median SP$/PSF – $3,820 psf
  • Average DOM – 237
  • Ave. Buyer Discount – 26%
  • Today’s Best Discounts.

Miami Beach

$5 to $10M

  • Available Units – 12
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

$10M to $15M

  • Available Units – 0
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

$15M+

  • Available Units – 1
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

Surfside

$5 to $10M

  • Available Units – 19
  • 2018 SOLD (YTD) – 10
  • Median SP$/PSF – $1,943
  • Average DOM – 214
  • Ave. Buyer Discount – 6%
  • Today’s Best Discounts.

$10M to $15M

  • Available Units – 4
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

$15M+

  • Available Units – 2
  • 2018 SOLD (YTD) – 1
  • Median SP$/PSF – $2,470 psf
  • Average DOM – 277
  • Ave. Buyer Discount – 26%
  • Today’s Best Discounts.

Bal Harbour

$5 to $10M

  • Available Units – 36
  • 2018 SOLD (YTD) – 5
  • Median SP$/PSF – $1,809 psf
  • Average DOM – 235
  • Ave. Buyer Discount – 8%
  • Today’s Best Discounts.

$10M to $15M

  • Available Units – 5
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

$15M+

  • Available Units – 1
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

Sunny Isles Beach

$5 to $10M

  • Available Units – 73
  • 2018 SOLD (YTD) – 5
  • Median SP$/PSF – $1,242 psf
  • Average DOM – 166
  • Ave. Buyer Discount – 14%
  • Today’s Best Discounts.

$10M to $15M

  • Available Units – 7
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

$15M+

  • Available Units – 13
  • 2018 SOLD (YTD) – 1
  • Median SP$/PSF – unknown SF
  • Average DOM – 7 days
  • Ave. Buyer Discount – 6%
  • Today’s Best Discounts.

Aventura

$5M+

  • Available Units – 7
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

Edgewater/Midtown/Wynwood

$5M+

  • Available Units – 6
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

Downtown Miami

$5M+

  • Available Units – 4
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

Brickell & Brickell Key

$5M+

  • Available Units – 24
  • 2018 SOLD (YTD) – 1
  • Median SP$/PSF – $934 psf
  • Average DOM – 62
  • Ave. Buyer Discount – 10%
  • Today’s Best Discounts.

Coconut Grove

$5M+

  • Available Units – 3
  • 2018 SOLD (YTD) – 0
  • Median SP$/PSF – n/a
  • Average DOM – n/a
  • Ave. Buyer Discount – n/a
  • Today’s Best Discounts.

3-YEAR Miami (Areas Above) $5M+ Condo TRENDS

MIAMI 5+Million 3 Year STATS (OCT 2018)MIAMI 5+Million 3 Year STATS (OCT 2018) SOLDMIAMI 5+Million 3 Year STATS (OCT 2018) SOLD AVE PPSF

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Luxury CondosUnique Penthouses, & Waterfront Homes

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Sotheby's International Realty 900eszI’m connected with the world’s best luxury real estate brand and a vast global network of friends & colleagues who offer a bespoke experience wherever you are in the world. Locally, I offer the very best in real estate knowledge and client services as a master broker-associate with the leading firm, ONE Sotheby’s International RealtyWhy Sotheby’s? Because of the brand heritage, prestige, their propensity for perfection, and quite simply, the immense global reach in curating luxury goods and real estate. Since 2002, I’ve been active in the South Florida residential market with knowledge, experience, and white-glove service that consistently exceeds expectations.

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