Miami-Dade Luxury Housing Market

Miami-Dade Luxury Housing Market

Miami-Dade County popularly known as Metro-Dade or Greater Miami is seventh most populous county in the United States. It is an international hub of cultural diversity and it captures the world’s imagination with it very own quality of mystery, glamour and power. A beautiful city with lots of monthly temptations (interesting social activities dedicated to each months of the year). It features the Sunny Isle Beach, Coconut Groove, Little Havana and Aventura, which is known for it’s exceptional for it shopping, dining and luxury residential living.

The county is home to 34 incorporated cities and many unincorporated areas. It is heavily urbanized with fascinatingly attractive homes and condos with many high rises up the coastline. It is South Florida central business district and this makes it real estate market an attraction for lots of business men and retirees.

Miami Luxury Condo Sales and Prices

Miami-Dade County real estate market is a competitive market that makes sure that wheelers and dealer go home with million-dollar condos as stocking stuffers. The county’s condo market enjoyed a solid gain in sales volume towards the end of 2016, and three condo units broke the $2 million price barrier.

Luxury oceanfront condo unit at Bal habour was recently sold for $3.75 million after staying in the market for about 180 days which makes it top the December ending priciest deals.

The five-bathroom and four-bedroom condos feature wolf and sub-zero appliances, wraparound terrace and wood floors and the deal is sold at $981 per square foot.

Following that top deal was the $2.4 million sale of a 3-bedroom, 4.5-bathroom condo located at the Turnberry Ocean Colony in Sunny Isles Beach. Like the former one, this gorgeous and modern-style unit has beautiful ocean views through floor-to-ceiling windows which make the occupant appreciate the true beauty of nature. It was listed for 147 days before the deal was closed at $882 per square foot.

In third place, is a three-bedroom, 3.5-bathroom luxury condo unit at the Carillon North Tower in Miami Beach. It is constructed in a grand townhouse style with two floors, a loft-style living room, carpet floors and beach views. It was sold for $2.2 million, approximately $649 per foot, after spending about 50 days in the market

Apart from those top three hot deals, Miami-Dade’s ten priciest sales ranged from $1.325 million to $776,450 and it also saw 113 condos sales in the end of 2016 for $40.5 million. Average prices were $358,467 per unit and $265 per square foot.

The fact that individual luxury communities in Miami-Dade did so well last year is a major key to understanding the luxury market in 2017. Increased luxury developments have contributed to

increase in home values.

Real estate experts with a broad understanding of Miami’s real estate micro-markets are well equipped to advise home buyers and sellers effectively. Trent real estate agents are community experts that are well versed in the latest happenings in South Florida real estate market and otherwise. Contact us today for consultations on market conditions and information about buying or selling your home.

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