Miami Beach Real Estate News

Real Estate News

Every day is a different experience in Miami Beach.  Its ever-changing landscape and the diversity of the Miami Beach real estate market present exciting new ventures, opportunities and events that make it one of the most dynamic cities in all of sunny South Florida.

Our Miami Beach real estate blog is always being updated with the latest real estate news about Miami Beach and its neighboring areas, including local events and exciting new happenings.  As part our ongoing efforts to provide you with the most comprehensive information on Miami Beach and its collection of varied property, we will highlight and acquaint you with a new, acclaimed Miami Beach condo each month.

We encourage you to comment on our latest Miami Beach real estate and South Beach real estate news postings and contribute to the discussion.  The eclectic lifestyle and community always presents new perspectives and we’d love for you to share our postings with friends and family through your preferred social networking websites.  Thank you for reading our Miami Beach blog!

Wednesday, January 30, 2013
Sales in Miami in both condos and single family homes set incredible records. Double digit growth is attributed to overseas buyers as well as the improving economy in Florida, record low mortgage rates, and the resulting inventory is incredibly limited. There is currently a shortage and 2013 is not expected to be record breaking simply because the inventory is not available. However, there are 100 new condominiums in the works so this will likely be remedied. If you are looking to sell your home or condominium in Miami Beach or in Miami, you would be very well served to take a hard look at the numbers below and get an idea of how remarkable the market really is for the seller.
In Miami Dade County, sales rose 7.9% for single family homes and 1.2% for condos. Natasha Tell, chairman of the board of the Miami Association of Realtors released this statement, “The Miami real estate market continues to exceed expectations and generate optimism. While we expected the surge in demand to drive price appreciation, we did not expect prices to increase as soon and as strong as they did.” Total sales in December increased by 12.5% compared to December 2011. Single family homes in Miami Dade increased 16.4% and condos increased by 9.8% in December. More impressive is that the median price of home has increased 25.4% compared to 2011 and 3.2% from November 2012. The demand for bank owned properties and the resulting bidding wars is keeping price points up. For more information on the market, contact us today.
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Tuesday, January 29, 2013
Case Shiller reported that throughout 20 metropolitan areas there was a gain of .6% in November and the prices have risen in these areas by 5.5% this past year. An increase of this magnitude has not been seen since 2006. US Economist Omar Sharif with RBS Securities in New York released this statement to Reuters, , “This is continuing a trend in place for the better part of a year. This is another indication that the housing rebound is fairly entrenched at this point.” November was the tenth consecutive month of gains which beat out the 2009 and 2010 9 month runs which were accredited with the home buyer tax credit. The numbers were all adjusted seasonally for the slower month of December.
While the rest of the nation experiences slower months in the winter, Miami is the polar opposite. Miami is in season now, and there are scarcely homes on the market. With every listing, there are multiple offers and bidding wars for the competitively priced homes. Whether in the single family home market or the condominium market, there are very few options on the market. In short, winter is NOT a weak point in the market for Miami and if you are looking to list your home there is no better time. Luxury homes are fetching top dollar and we are happy to provide a comparative market analysis. Contact us today.
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Friday, January 25, 2013
Tags:   Property, Vero Beach Real Estate, Sales Price, 2012, Market, home buyers, Home Sellers
The South of Fifth Neighborhood in South Beach in Miami Beach is one of the top destinations for those looking to relocate to Miami. It has some of the most luxurious condominiums in Miami and some of the finest restaurants. Part of the allure of this neighborhood is the proximity to the Miami International Airport, Downtown and Brickell by way of 395. These destinations are at most a 20 minute drive. Some of the destinations within this neighborhood are Milos, Prime Italian, Prime 112, Fogo De Chao, and Smith and Wollensky. It is highly walkable and is really the most European of the areas of South Beach.
Some of the incredible real estate in the South of Fifth Neighborhood include, The Continuum, Icon South Beach, Murano at Portofino, Murano Grande, Apogee, and the newest is Ocean House, which is yet to be built. If you are looking to be a full time resident, this area has excellent schools, South Point elementary is considered one of the best primary schools in Miami. These luxury buildings line the water and they have units with absolutely incredible views of the city of Miami Beach as well as Downtown, Fisher Island, and the Government Cut. For more information on buying a home in this neighborhood, contact us today!
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Thursday, January 24, 2013
Tags:   Home Sellers, 2012, Sales Price, Vero Beach Real Estate, Property, Market, home buyers
The Continuum North and South Towers offer much in terms of location, amenities, and luxury living. The Continuum’s towers are located at the southern-most tip of South Beach in the trendy South of Fifth neighborhood. This neighborhood offers incredible dining such as Milos, Fogo de Chau, Prime 112, Prime Italian, and Smith and Wollensky. There is also a marina in the South of Fifth neighborhood. The Continuum has its’ own compound so to speak and the amenities are endless. With enormous pools, fitness and spas, private dining and beach, this is the ultimate point of living in Miami Beach.
The penthouse we are featuring today is truly one of the most extravagant listings in Miami, if not in all of South Florida. With the recent record breaking sale at The Setai, these ultimate penthouses are increasingly coming on the market, with very high list prices. Penthouse 2 is listed at $39 million and has over 11,000 square feet of living area with 6 beds, 7 baths, and 1 half bath. There are water views of the government cut, Fisher Island, the Atlantic Ocean, and Downtown Miami. This penthouse is 4 levels and has a private elevator and every square inch of this home is custom finished and appointed. With a rooftop pool, and staff and guest quarters, this sky home is really more like a mansion in the sky. It is the second most expensive penthouse available in Miami. For more information, please contact us for a viewing.
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Wednesday, January 23, 2013
Tags:   Home Sellers, Market, home buyers, Property, Sales Price, 2012, Vero Beach Real Estate
Chief Economist for the National Association of Realtors released a statement regarding the recent numbers of previously owned home sales for the month of December today, “Record low mortgage interest rates clearly are helping many home buyers, but tight inventory amd restrictive mortgage underwriting standards are limiting sales.” This comes as no surprise given the record low inventory in Miami and we are seeing this increasingly as a sellers market. In December, sales fell 1% however they remained 12.8% above December numbers in 2011. 4.65 million homes were estimated by NAR to be sold in 2012, which is an increase from 9.2% in 2011 and is the highest level since 2007.
Nationally, the housing inventory dropped 8.5%, reaching 1.82 million homes, which is estimated to be a 4.2 month supply. Economists consider a 6-7 month supply to be a healthy market and this low inventory is lowest since 2001. This is not a sad story however since the median price of homes has been driven up by 11.5% since last year. In Miami Beach, we are witnessing a drastic shortage of previously owned homes for sale. There are 83 planned developments for this year in condominiums and hopefully there will be more released on the market. If you are looking to sell your home, contact us today!
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Friday, January 18, 2013
Tags:   Home Sellers, Market, home buyers, Property, Sales Price, 2012, Vero Beach Real Estate
5050 North Bay Road was recently listed in the incredible neighborhood of North Bay Road. The home was originally completed in 1936 and has been impeccably restored. Within its’ 8,500 square feet are ten bedrooms, and eleven baths. The home has 4 separate suites, making it perfect for a staff or guests. It has been renovated to include formal dining and living room, media room, eat in kitchen, and has incredible moldings. It has a three car garage and a circular drive with expertly manicured grounds. The views from the home are incredible and feature downtown Miami and the Biscayne Bay. This is one of the most impressive estates available on the market in Miami currently.
The North Bay Road neighborhood of Miami Beach is typified by waterfront estates and a quiet feel, however it is just minutes from the city and the incredible energy of South Beach. It is 20 minutes from downtown Miami and the Design District and also 20 minutes from the Miami International Airport. Bal Harbour, the shopping destination, and Lincoln Road are a short drive from the neighborhood. Residents also have their choice of clubs, La Gorce Golf and Country Club, which is private, and Miami Beach Golf Club, which is public, are both on Alton Road which runs parallel to North Bay Road. For more information on this incredible listing and others in the North Bay Road neighborhood, contact us today.
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