Check out this article from the July 1st Miami Herald on sales trends of luxury single-family homes and luxury condos. It’s pretty interesting!
A split emerged in Miami’s luxury real estate market during the first three months of 2015: Resales of single-family homes chugged along at a steady clip, but the market for existing luxury condos peaked as sales slowed and units stayed up for sale longer.
The number of luxury single-family homes sold grew 2.3 percent in the first quarter of 2015 compared to the same quarter last year. But luxury condo resales were down 3.6 percent over the same period.
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