Modest yearly gain for Miami Beach’s lux homes and condos 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, The Real Deal: Miami
Posted on: Wed, 26 Jun 2013 19:56:55 +0000
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