Miami Home Sales Volume and Price Grew in 2018

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Miami-Dade County reported 12,931 single-family home sales in 2018, up 1.1% from 2017, according to the MIAMI Association of Realtors and the Multiple Listing Service (MLS) system.

This figure ranks 2018 as the fourth highest year in county history for the sale of single-family homes; according to the report, only in 2014, 2015 and 2016 did Miami see more single family home sales (the Miami Association of Realtors and the MLS have been tracking these figures since 1994).

Existing condo closings increased 5.6% to 13,863 in 2018, marking the sixth best sales year in history despite competition from the new construction condo boom.

Total residential sales volume jumped 10.7% to $12.4 billion, up from $11.2 billion in 2017.

According to the report, lack of supply in certain price ranges and neighborhoods as well as higher interest rates impacted sales.

Other notable takeaways from the report include:

  • The $300,000 to $600,000 range proved to be the most popular price point for Miami single-family homes in 2018, posting a 15.7% increase in sales year-over-year, increasing from 5,448 sales in 2017 to 6,303 in 2018.
  • The luxury segment ($1 million+) also proved to be a hot sector for single-family homes, increasing 15.9% in 2018 from 878 to 1,018 sales.
  • In 2018, cash deals represented 37.8% of Miami’s total closed sales, a decrease from 40.4% in 2017 (51.3% of  all condo closings were made in cash, while 23.3% of all single family home sales were cash deals).

Read the full report here.

Notable New Construction Sales in Center Grove – November 2018


3220 Matilda St., Miami, FL 33133
3 beds/3.5 baths | 3,300 sq ft | built in 2018 | sold for $1,265,890 on 11/9/18

Just drive around Coconut Grove and you’ll see it everywhere – bulldozers, front loaders, dump trucks and trenchers. New construction, whether you like it or not, remains alive and well in the Grove and prices are stronger than ever.

There were 2 notable new construction sales in Center Grove in November.  Pictured above is 3220 Matilda Street, which sold for $1,265,890 ($384/sf). The property has 3 bedrooms, 3.5 baths and 3,300 square feet of living space. The developer is Drive Development, which currently has a number of ongoing and completed projects throughout the neighborhood (including my two new construction sales back in July). The home features a contemporary design and beautiful wood features which are in line with Drive’s other projects, including a floating frame which Drive describes as “simultaneously providing shelter from Miami’s summer rains and serving as a versatile wood-screen shading device system that offers tranquil tree top views.” Below are some renderings of the gorgeous interior design and finishes of the home.

Another mentionable sale was 3190 Lamb Court (a small cul-de-sac tucked off of McDonald St.), which sold for $1,285,000 ($453/sf). The home has 4 beds, 4 baths and 2,833 square feet of living space.  The property features a dramatic double-height entry with floating staircase,  Italian 48″X24″ porcelain tile flooring, a sleek Euro-style kitchen with high-gloss custom cabinetry, quartz countertops and Thermador appliances, including a 36” gas dual fuel range.  Other notable features include: LED lighting, Hikvision camera system and Sonos sound system. Finally, the property has a large roof-top terrace with artificial grass, and a backyard with private patio and pool. View the slideshow below for photos of the property.

For more information on these properties and/or other real estate opportunities in Coconut Grove and the surrounding neighborhoods, contact me directly at 305.799.2124 or LRubens@bhsusa.com.

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*images via Riley Smith Group

Just Sold, Just Rented, and Just Reduced!

FullSizeRender 19JUST SOLD – 1050 Brickell Ave #2012, Miami, FL 33131
0 beds/1 bath (studio) | 601 sq ft | built in 2008 | sold for $222,000

Congratulations to my client on the sale of his beautiful studio at 1050/1060 Brickell! The Brickell market has proven to be quite challenging in recent months as there is a surplus of available units for sale thanks to the most recent condo boom. My seller was motivated and we priced the unit very competitively.  Ultimately, we received a cash offer with a quick closing, and everyone walked away happy!

For a recap on the details of this unit and the building, as well as more photos, click here.

 

JUST RENTED – 3103 Oak Ave, Miami, FL 33133
3 beds/2.5 baths | 2,200 sq ft | built in 2004 | rented for $4,375/month

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I just rented this fabulous Center Grove townhouse to a wonderful family relocating to Miami. If it looks familiar, that’s because it was the third transaction I’ve completed on this property in less than three years!  It’s a great property in an amazing location, just steps away from everything the Grove has to offer.

For a recap on the details of this property, as well as additional photos, click here.

 

JUST REDUCED – 4920 SW 77 St, Miami, FL 33143
7 beds/8.5 baths | 5,702 sq ft | 15,220 sq ft lot | built in 2008 | offered at $2,999,999

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My seller just reduced the asking price on this exquisite family home in the coveted Ponce/Davis neighborhood. This large family home was completed in 2008, boasts superb design and high-end detailed finishes, and is in pristine condition.  One of the best features of this property is its super private location, as it is tucked away on a lush, quiet cul-de-sac with only 3 neighboring homes. Located in an A-rated school district and just minutes from the shops and restaurants of South Miami and Sunset Place!

For a recap on the details of this property, as well as additional photos, click here.

 

For additional information on any of the above or similar properties, contact me directly at 305.799.2124 or LRubens@bhsusa.com.

Chic Studio Available in 1050 Brickell

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1050 Brickell #2012
0 beds/1 bath | 601 sf | built in 2008 | Offered at $258,000

Take a peek inside my chic studio listing at 1050 Brickell!  This perfect pied à terre is situated in the heart of Brickell and is walking distance to everything Brickell has to offer.

The unit has 601 sq ft of living space and a spacious balcony, perfect for your morning coffee or nightcap.  Large sliding glass doors offer a sprawling view of Brickell’s beautiful skyline and allow for loads of natural light during the day.  Offered at $258,000, this is one of the lowest priced units available in the building.  Other residence features include:

  • Sparkling travertine floors throughout the living and sleeping areas
  • Custom blackout shades
  • Kitchen has generous counter space, stainless steel appliances, granite countertops, subway tile backsplash and European cabinets
  • Laundry closet with stackable washer/dryer and extra storage
  • Bathroom has marble floors and countertops, and a marble shower with glass door
  • Hurricane impact glass windows and doors
  • One assigned parking space located on the third level of the secured garage

1050/1060 Brickell is a full service building with all the amenities you could ask for including a beautiful pool and state-of-the-art fitness center, a virtual golf room, wine/cigar lounge, party room, and a game room with a billiards table. The building has 24 hour doorman security, 24 hour valet parking, as well as ground-floor and mezzanine level retail and restaurants.

Scroll through all the photos below, and contact me directly at 305.799.2124 or lrubens@bhsusa.com for more information or to schedule a private showing.

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Echo Brickell Topping Off!

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Echo Brickell
1451 Brickell Ave, Miami, FL 33131

You may recall this post from nearly two years ago where I first mentioned the ultra-luxury new construction residential tower that is ECHO Brickell.  Well, time flies and this week it’s being reported that they are topping off the building at 57 stories.  In fact, you can watch it for yourself from Echo’s live camera feed on their website, here.  Pretty wild!

To refresh your memory, Echo is situated on the east side of Brickell Avenue, directly adjacent to the Four Seasons (see top image).  Developed by  Property Markets Group (PMG), Echo Brickell is a boutique luxury development with 180 units and 57 stories.  It features conceptual design by world-renowned architect Carlos Ott and interior design by yoo Studio.

Although the building is more than 90% sold out, there are a handful of penthouses remaining, including the $42 million Carlos Ott penthouse.  Other purchase opportunities in the building start at $2 million, with floor plans consisting of 2, 3 and 4 bedroom layouts.

One of the most unique features of Echo is that all units will be delivered “furniture ready” – completely finished!  This is a major difference from the standard “designer ready” model of other buildings where units are delivered with kitchens, baths, and bathroom floors, but are otherwise raw and require finishing, from lighting to paint to baseboards and floors.

Check out the stunning images below to get a feel for Echo’s unique aesthetic and luxurious finishes.  For more information about purchase opportunities at Echo, contact me directly at lrubens@bhsusa.com or 305.799.2124.

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