Catherine Rodstein Blog   Real Estate Blog

Its no question Miami has seen a slowdown in home sales over the past months after a period of tremendous growth. Factors being affordability concerns over the significant rise in home prices in the luxury market, a strong dollar, and weak economies abroad. The above $1M market has seen reduced prices and increased time on the market, especially the Miami and Miami Beach luxury condos.

Although sales are down from 2015, waterfront luxury homes in Miami Beach and Miami’s luxury communities including the Sunset Islands, North Bay Road, La Gorce, Coral Gables, Cocoplum, Tahiti Beach, Coconut Grove, Key Biscayne, and Bay Point have seen a rise up to 4.5% in prices since 2015. Overall, the Miami market has leveled off presenting some good buying opportunities, but Miami has sustainability. Downtown Miami’s Design District is burgeoning, Brickell City Centre is soon to transform Downtown Miami, and construction is progressing at many of Miami’s luxury condos.Ritz Carlton Residences

Miami’s Brickell Flatiron has just completed piling installation. This 64 story tower by Ugo Colombo’s CMC Group is scheduled for delivery in 2019. The 7 acre Ritz Carlton Residences by Lionhearted Capital in Miami Beach is expecting delivery by second quarter of 2017. Related Group’s stunning 58 story tower SLS Lux in Brickell has reached its 47th floor. Completion is slated for Fall of 2017.

Zaha Hadid’s spectacular 62 story tower, One Thousand Museum, reached its 20th floor. It is expected to open late 2018.The Arquitectonica designed 28 story luxury Oceana Bal Harbour is expected to start Closings as early as November this year. Park Grove

Construction is underway at Park Grove, the 3 tower new development by OMA in Coconut Grove. Expected completion in 2018. The sold out Grove at Grand Bay in Coconut Grove already completed construction.

 
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Updated: Friday, March 29, 2024

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