My firm has updated the 2015 Trends Report with mid year data and we’re taking a close look at Miami Beach. Starting with the South Beach submarket, data shows that this area has remained an undoubtedly popular submarket attracting locals, domestic and international buyers. Particularly in sought-after condominiums, pricing has continued to steadily increase at an average of 15%-35% per square foot.
The Mid Beach submarket has seen significantly fasting appreciation as buyers are lured further north by new developments like The Edition, 1 Hotel & Residences, and Thompson Miami Beach as well as new condos like Beach House 8. North Bay Road saw four waterfront transactions and an average waterfront home price at over $25 million. On the waterfront in Mid Beach, the average price per square foot is up 57% from the same period last year. Waterfront price per square foot figures for North Bay Road are up 51% and up 7% in the La Gorce Subdivision. For a comprehensive and custom market report from an experienced Miami Beach luxury real estate specialist, please reach out.
Susan Gale is the leading luxury estate agent specializing in commercial real estate, boutique hotels, and stunning residential properties in Miami Beach. She has over 25 years of experience and a sales track record of over $1 billion in sales, that has given her global cache as a luxury real estate leader. Contact us today, we look forward to working with you.