2013 Miami Real Estate Year in Review!
by Ashley Cusack
2013 was a busy year for Miami real estate with tremendous improvements across the board – inventory continued to drop, prices rose (sometimes dramatically), homes sold closer to their asking prices, and the average days a listing was on the market before it sold went down. Looking at the Miami luxury real estate market, we saw the same progress. In fact, there were more sales over $1.5M this year in all of the major markets (Coral Gables, Coconut Grove, Miami Beach, Pinecrest, Palmetto Bay) than there were last year, and we still have sales left this year that haven’t been recorded! This chart shows how many sales occurred this year compared to last year for these $1.5M+ homes. Pinecrest had a 50% increase from 40 sales last year to 60 this year, and Palmetto Bay didn’t have any sales over $1.5 million last year but there have been 3 this year. Here’s to a wonderful 2014 in Miami real estate!
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