Modest yearly gain for Miami Beach’s lux homes and condos, broker report says

Single-family homes rose 5.2 percent and condos 4.7 percent in Miami Beach's $500K and higher market

TRD MIAMI /
Jun.June 17, 2013 02:00 PM

The sales prices of single-family homes and condominium units in Miami Beach’s luxury real estate market rose at a steady clip from a year ago, according to a report by Miami-based Douglas Elliman broker Arno de Vos.

From June 1, 2012 to May 31, 2013, 803 condos and 291 single-family homes sold in Miami Beach’s luxury residential market, which de Vos defines as homes valued at $500,000 and higher.

The average sales price of a single-family home in this category rose 5.2 percent, from $2.186 to $2.3 million, while the sales price per square foot rose 11 percent, from $468 to $521.

During the same period, the averages sales price of a luxury Miami Beach condo rose to $1.474 million from $1.408 million, a 4.7 percent increase, while sales per square foot rose 7.4 percent, from $755 to $812.

The priciest listings in Miami Beach as of the year ending May 31 have been a $30 million single-family home, compared to a $19.8 million single-family home in 2012, and a $27 million condo, a 25.5 percent gain over the highest sale a year ago of $21.5 million. –Emily Schmall


Related Articles

arrow_forward_ios
Pharrell, Eric Birnbaum and David Grutman with a rendering of the hotel (Getty, Linkedin, Goodtime Hotel)

Pharrell, David Grutman partner with developer to launch South Beach hotel

Pharrell, David Grutman partner with developer to launch South Beach hotel
Icon unit tops list of most expensive condo sales in Miami-Dade (Google Maps; Icon Brickell)

Condo sales and dollar volume up from last week

Condo sales and dollar volume up from last week
Phil Collins, Orianne Collins, and 5800 North Bay Road (Credit: Tim Chapman/Getty Images, and John Parra/Getty Images)

Phil Collins wants to sell his Miami Beach mansion for $40M, but his ex-wife won’t leave

Phil Collins wants to sell his Miami Beach mansion for $40M, but his ex-wife won’t leave
6493 Allison Road (Credit: Douglas Elliman)

One Thousand Museum developer sells Allison Island home

One Thousand Museum developer sells Allison Island home
Greg Mirmelli with 2120 Bay Avenue (Credit: John Parra/Getty Images)

Miami Beach investor sells waterfront home for $18M, following bidding war

Miami Beach investor sells waterfront home for $18M, following bidding war
Floyd Mayweather & 5501 Pine Tree Drive, Miami Beach (Credit: Google Maps and Jun Sato/Getty Images)

Taking it on the chin: Floyd Mayweather Jr. sells Miami Beach home at a loss

Taking it on the chin: Floyd Mayweather Jr. sells Miami Beach home at a loss
1500 West 21st Street and Todd Glaser (Glaser by Mary Beth Koeth, Todd Michael Glaser)

Todd Glaser buys waterfront Sunset Islands home with plans to list it for $10M

Todd Glaser buys waterfront Sunset Islands home with plans to list it for $10M
A rendering of the monorail

Miami-Dade approves interim contract for monorail to Miami Beach

Miami-Dade approves interim contract for monorail to Miami Beach
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...