Miami Real Estate price review

Befitting the cooler fall temperature, the Miami real estate prices are in the midst of a cool down. The average luxury price has decreased about 8-10 percent year over year in the past five years, according to a 2016 midyear report on Miami condominiums.

South Florida has turned from a seller's market into a buyer's market, with purchasers getting choice pickings from a large selection of inventory and negotiating power.

Even in a buyer's market, a waterfront location still reigns and location is the most important thing. Location, location, location…you always want to buy as strategically as you can.

Waterfront neighborhoods did very well in the first half of 2016, compared to 2015, according to the latest reports.

And there's still a lot of value at the top of the market. There has been a 51% increase in the price per square foot between $1- and $5-million dollar condos and $5- and $10-million condos, and a 27% increase in prices on condos between $5-$10 condos and those over $10 million, indicating that the value in luxury developments increases because of enhanced quality due to factors like construction, finishes, views and location.

If you are looking for a holiday home, exceptional residence or great investment opportunity in Miami area or wider Florida, we will be glad to help you. We have an outstanding variety of new, luxury and bargain properties, both sale and rental in South Florida and our staff is on hand to assist you finding a suitable home in this exciting part of the USA. For more details and detailed guidance about properties in Florida, please refer to our websitewww.ecsmproperty.uk.com.

22 Oct 2016

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