2013 was a record year for sales in Miami-Dade County over $1 Million. EWM alone averaged a $1M+ sale every 18 hours last year! The great news is that this trend has continued into 2014.
Countywide, we are currently averaging 172 sales per month over $1Million which is really incredible, and EWM’s average is increasing as well! What I find especially interesting is that only about 40% of these sales are single family homes – 60% of them are condos! 10 years ago, no one thought the day would come that more condos than homes sold over $1Million!
Our market is strong right now and people want to be in Miami, which is helping drive our market. Cash sales are also more common today than ever before. It’s an exciting time to be in real estate in Miami!