Robust Luxury Market Trends: Miami-Dade’s Iconic Sales

Real estate in Miami-Dade County continues to thrive, with significant sales dominating the market. A key highlight last week was the pending sale of a stunning waterfront mansion in Gables Estates owned by investor Rafael Perez, listed at a striking $47 million.

Recent Market Highlights

According to the latest Eklund-Gomes report, luxury properties in Miami-Dade are attracting serious buyers. Here are some key insights from the report:

• Contracts Signed: Between June 9 and June 15, buyers signed 25 contracts for luxury properties, reflecting a strong demand for high-end real estate.
• Average Market Days: The properties spent an average of 161 days on the market, highlighting a relatively swift turnover in this competitive segment.
• Total Volume: The asking prices for these properties totaled an impressive $274.8 million, demonstrating the robust nature of the luxury market.

Property Details

The mansion at 33 Arvida Parkway spans 12,500 square feet, featuring:

• Seven bedrooms and seven-and-a-half bathrooms
• A 0.8-acre lot with 225 feet of water frontage
• Luxury amenities including:
  • A four-car garage
  • A dock and boat lift
  • A bayfront pool with a summer kitchen

The home, constructed in 2004, is marketed by One Sotheby’s International Realty agents Dennis Carvajal and Maria Marin-Sanchez.

Growing Luxury Inventory

The Nielsen Report noted that:

• 28 new luxury listings were introduced, increasing total inventory to 1,229 listings.
• Luxury inventory has been decreasing week over week, indicating rising demand amidst limited supply.

Comparative Analysis with Prior Week

In contrast, the previous week saw buyers signing contracts for 19 properties in Miami-Dade, with a combined asking price of $268 million. The trend underscores Miami’s escalating real estate appeal, especially in the luxury sector.

Insights into Contracts

• Single-family homes:

  • Average asking price: $11.7 million
  • Days on the market: 173
• Condos:
  • Average asking price: $10.1 million
  • Days on the market: 146

The luxury condo segment also showed remarkable activity, with 113.7 million in total dollar volume across contracts signed.

Featured Luxury Condo

One standout condo from last week is a penthouse located at Five Park in Miami Beach, listed at $20 million. This impressive unit features:

• Four bedrooms and six-and-a-half bathrooms
• A sizable 5,888 square feet of interior space complemented by a 1,868-square-foot terrace.

For more details on luxury condos in Miami, see this link for listings.

Conclusion: Thriving Market

As Miami-Dade real estate continues to flourish, the luxury sector remains robust, showcasing high-demand properties and significant sales volumes. With opportunities still emerging amid declining inventory, buyers and sellers alike are keenly watching this dynamic market space.

For further real estate trends and updates, visit Douglas Elliman, where comprehensive market analytics and listings are available.

Taking advantage of thriving market conditions can present lucrative opportunities for investors and homeowners alike. Whether looking for a sprawling mansion or a luxurious condo, Miami-Dade is proving to be one of the leading destinations for high-end real estate.