Miami Beach Real Estate Market Condition | Miami Beach Real Estate Blog

Miami Beach Real Estate Market is Gaining Steam

Over the past month, my team and I have witnessed a significant increase in buyer activity for what I consider to be “A” real estate properties. These can be quickly defined as:

- Miami Beach waterfront condos in buildings such as The Murano, Murano Grande, Icon South Beach, Portofino Tower, Continuum, and more affordable buildings such as The Waverly and The Floridian along West Avenue.

- The more popular luxury waterfront single family homes located on island communities such as The Venetian, Palm, Hibiscus, and Sunset Islands.

Whether it’s a single family home or condominium, an additional requirement for an “A” property in this Buyer’s market is that it be turnkey, or completely remodeled and updated. In other words, the only additional expense a buyer has to be concerned with is moving in with their furniture and personal belongings.

It’s been our experience recently that single family homes and condos, when priced RIGHT, are bombarded with buyer interest and generally receive multiple offers. We are witnessing a new surge of buyer interest in these “A” location properties in the South Beach and the greater Miami Beach real estate market. Our real estate websites are also seeing a dramatic increase in traffic, with local cooperating brokers calling with inquiries and sending us multiple sales contracts.

All of these signs are indicators that the bottom is very close to being reached, and sales are beginning to come back, with prices to GRADUALLY follow as the “A” inventory diminishes.

A few examples of “A” real estate properties currently on the market:

Venetian Island – Greatly Reduced Waterfront Home

Rivo Alto home in Venetian Islands Miami Beach

Romance is felt throughout this Mediterranean waterfront home situated on 10,500 sf of land, spanning 60 feet of wide bay waterfront facing the Miami skyline. This timeless residence with unique architectural features contains over 4,117 sf of living area, with 5 bedrooms, 6 full and 2 half baths.

Current Asking Price: $3,199,000
Original Asking Price : $4,250,000
Bedrooms: 5
Bathrooms: 8
House S.F.: 4,117
Land S.F.: 10,500
Waterfront: 60 ft. with Dock

San Marino Island- Significantly Reduced Turnkey Waterfront Home

San Marino Waterfront Home in Venetian Islands

A fantastic opportunity to own an oversized waterfront lot. This Mediterranean waterfront estate has 90 feet on the water, located on the Venetian Island causeway between Miami and Miami Beach. Beautifully redone with gourmet kitchen, brazilian cherry hard wood flooring, fireplace, office/library, and award winning landscaping!

Current Asking Price: $2,950,000
Original Asking Price : $4,599,000
Bedrooms: 4
Bathrooms: 5
House S.F.: 3,370
Land S.F.: 15,750
Waterfront: 90 ft. with Dock

Portofino Tower Condo- Spectacular Atlantic Ocean, Fisher Island, and Miami Beach Skyline Views

View from the Miami Beach Portofino Tower Condo Unit #3402

This high floor condominium is a real flow through floorplan with two expansive and very private terraces with the most stunning views of Fisher Island, Downtown Miami, Miami Beach and the Ocean. A Grand Foyer entrance, floor to ceiling windows, a unique floorplan, and the most exquisite upgrades make this condomimium one of a kind.

Current Asking Price: $1,500,000
Original Asking Price : $1,795,000
Bedrooms: 2
Bathrooms: 3
Condo S.F.: 1,960