The Real Deal Miami

Sales over $10M soared in 2012

Miami’s luxury market is continuing to boom, new data from Sotheby’s International Realty reveals. While residential transactions remained flat across South Florida from 2011 to 2012, posting only a 1 percent increase, the luxury market soared. 

According to Sotheby’s, sales over $1 million increased 15 percent in 2012 from 2011. But sales of properties over $5 million increased 46 percent and sales $10 million or above increase 115 percent in 2012 from 2011. —Christopher Cameron