The Miami real estate market also continues to be strong, but with a number of headwinds, including the withdrawal of Brazilians and Russians from the market, as their currencies have plummeted this year.
That being said, Miami condo prices are still rising, up from last year 5% in Miami Beach to $653 per square foot and a whopping 40% in the Downtown Miami Luxury segment to $670 per square foot. Miami Beach luxury condo prices, however, were down 2.5% to $1,233 per square foot. The recent rise in inventory, close to a 50% rise for properties in Miami Beach and 62% in Downtown Miami luxury segment, has outpaced sales.
To learn more about the Miami Real Estate market and the latest properties for sale, please visit our the links below: