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.

Rarely Available Townhouses Listed at Sunset Harbour on Miami Beach

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You may recall my post last month about the frenzy over Sunset Harbour.  If you think the condos are in high demand, think again – The Townhouses at Sunset Harbour are nearly impossible to buy, because they rarely go on the market.  In fact, the last sale was nearly one year ago!  Yet in the last seven days, there have been 3 townhouses listed.

It’s easy to see why these properties are such prized possessions: with such large floor plans (in excess of 2,500 square feet!), these townhouses feel more like single family homes than condos.  The gated community is situated right on the bay, and is walking distance to Lincoln Road and the shops and cafes at Sunset Harbour.  Complete with a marina and an Olympic-sized pool, the Townhouses at Sunset Harbour feels like country club-living in the middle of South Beach.

Here’s the scoop on the listings:

1413 Sunset Harbour Dr. #213:
– Offered at $1,249,000
– 4 beds | 3 full baths
– 2,640 square feet
– Listed on 10/20/13 by Felipe Restrepo of The Keyes Company, Inc.

1415 Sunset Harbour Dr. #206:
– Offered at $1,250,000
– 4 beds | 3 full baths
– 2,640 square feet
– Listed on 10/16/13 by Jay and Claudia Levy of Coldwell Banker Residential Real Estate

1413 Sunset Harbour Dr. #411:
– Offered at $1,350,000
– 3 beds | 3 full baths
– 2,790 square feet
– Listed on 10/17/13 by Daniel Sepe of Keller Williams Miami Beach

1413 Sunset Harbour Dr. #408:
– Offered at $1,399,999
– 4 beds | 3 full baths
– 2,790 square feet
– Listed on 12/2/12 by Marianna Glasser of Park Miami Realty Inc.

The Townhouses at Sunset Harbour were built in 1997, but all of these listings appear to have been beautifully updated.  Check out the photos of unit 206 below, listed by Jay and Claudia Levy of Coldwell Banker Residential Real Estate – absolutely gorgeous! Contact me today to get your hands on one of these rare gems!

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Under $500k: Normandy Isle Bungalow

A1766458_101_12 7017 Trouville Esplanade, Miami Beach, FL 33141
$499,000 | 2 bedrooms/2 bathrooms | 1,539 sf | 5,650 sf lot
Listed by Keith Gordon of ADDVANTAGE Real Estate Services

For this week’s Under $500k, we have a cozy bungalow on Normandy Isle in Miami Beach.  Normandy Isle is a neighborhood of North Beach in the city of Miami Beach, located along the eastern shore of Biscayne Bay.  The address is 7017 Trouville Esplanade (all of the streets on Normandy Isle are named after French cities or landmarks…tres chic).  The home is conveniently located across the street from Normandy Isle Park and Pool – with free entrance for Miami Beach residents.

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A1766458_E01_12The home has 2 bedrooms, 2 bathrooms, 1,539 square feet and a 5,650 square foot lot.  Listed for $499,000, this “MiMo gem” features an eat-in kitchen w/ European cabinetry and granite countertops,  a spacious living /dining room space, granite bathrooms with mirrored built-ins  and an en-suite master bathroom, granite floors throughout, a Florida room with high ceilings and quarry tile floor, and a garage with a washer and dryer.

The home was originally built in 1949 but has been updated with high impact windows and doors, and has been freshly painted inside and out.  The property has lush, tropical foliage and professionally landscaped gardens  (complete with a Buddha statue) to create a tranquil environment, as well as a peaceful sitting porch and a large deck in the backyard, perfect for entertaining.

Check out all the photos below, and contact me to schedule a showing before it’s gone!

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