January 17, 2014
Nearly 400 more single-family homes and condos priced at 1 million dollars or greater sold in Miami during a 12-month period ending in September 2013, compared to the previous 12-month period. That is an increase of over one luxury home a day.
There were 1,442 luxury residential sales during the first 9 months of 2013, compared to 1,065 sales during the first 9 months of 2012. That means more than 4 luxury homes sold per day in the Miami real estate market. Luxury residences also stayed on the market for fewer days in 2013, when compared to 2012 and 2011.
The report also shows that domestic buyers have returned the luxury Miami real estate market. Foreign buyers invested in just 35 percent of Miami’s 1 million dollar plus residences last year.
For more information on buying or selling a luxury home in South Florida, contact Niki Higgins at 1-888-242-4422.
Source: The Real Deal
