September 16, 2013
The luxury real estate market in Miami Beach is sizzling. Luxe Miami Beach homes (500,000 dollars and up) are selling quicker and in greater numbers. According to a recent report, the number of closed home transactions rose 38 percent in the year ending August 31, and the number of closed condo transactions rose 21 percent in the same time period.
In the luxury category, the average price of a home sold rose 3.5 percent to 2.39 million dollars. The average price of a luxury condo rose 2.9 percent to 1.44 million dollars. Star Island homes and Apogee Miami Beach condos lead the pack at 1,486 dollars per square foot and 2,371 dollars per square foot respectively.
For more information on luxury waterfront homes and condos for sale in Miami Beach, contact The Seaside Group at +1-888-242-4422.
Source: The Real Deal
