Miami Q1 Residential Condo and Single Family Home Numbers are In, and They Look Good!
According to the quarterly Douglas Elliman’s report for Q1 in Miami-Dade County, residential sales continue to rise. With limited inventory of single-family residences and condominiums, prices and sales have increased drastically.
Single-family sales increased by 162 percent and new signed contracts for condo sales have increased by 338.9 percent.
What’s interesting for both condo and residential sales in Miami, the sales price of $5 million and higher have increased substantially. With condo sales over $5 million at a 492.2 percent increase and residential sales over $10 million at a 339.5 percent increase.
The median condo sale price is at $300,000, with a 14 percent increase compared to this time last year. According to the report, “Condos showed much larger gains due to their earlier slowdown in activity early on in the pandemic.”
For Miami Beach, sales of condos and houses increased by 85% with 1,425 closings in Miami Beach. Nearly 10-month supply for single-family homes and condos remained. Condo sales in Miami Beach have increased by 75 percent to 1,192 sales. The median condo price at $510,000 rose 44 percent compared to this time last year.
Jeffrey Soffer, billionaire and son of real estate developer Donald Soffer, is pushing lawmakers to update Florida gambling laws. According to Miami’s Local 10 News, Miami Beach commissioners have hired lawyers to stop Soffer from building a casino under the Fontainebleau brand.
Miami Beach Mayor Gelber’s mission is to ‘discourage late-night entertainment in the city,’ and Soffer’s plan to build a casino goes against this.
According to Mayor Gelber, “What they are going to want to do apparently is take casino licenses, take gaming licenses, gambling licenses that exist right now in parimutuels — slot machines, card games, and things like that — and allow them to become portable.”
Also reported to be involved in the endeavor includes former President Donald Trump, who wants to open a casino at his current resort, Doral.
The Miami Herald has reported that Governor Ron DeSantis, has met with parimutuel owners to discuss casino openings and guidelines.
As part of he legislation, Genting’s Resort World Miami as well as the Seminole Tribe would be included and would greatly benefit from the legalization.
If this legislation passes, gambling licenses would be allowed to transfer into areas that currently do not allow it and local governments could not enforce any laws prohibiting it. The legislation is currently being drafted and will be released to the public within the next few weeks.
Explore Miami’s Top Places to Live in 2021- Brickell at #1
Niche is a website dedicated to helping consumers understand neighborhoods, schools, and colleges. They utilize comprehensive data of factors like location, quality of local schools, crime rates, housing trends, and employment statistics, to create their rankings. According to Niche, these are the top places to live in Miami!
Miami’s Top 10 Places to Live:
Brickell: Offers an urban-feel with many restaurants, bars, and parks. Home to many young professionals. The public schools are ranked above average.
Pinecrest: Offers a suburban feel and a lot more residential homes. There are a lot of restaurants, coffee shops and parks. Public schools are highly ranked.
Edgewater: Offers an urban-feel with many restaurants, bars, and parks. Home to many young professionals. The public schools are ranked above average.
Coral Gables: Offers an urban-suburban mix feel. There are a lot of restaurants, coffee shops, and parks. The public schools are highly rated.
Coconut Grove: Offers an urban-suburban mix feel. There are a lot of restaurants, coffee shops, and parks. The public schools are highly rated.
Omni (also known as the Arts + Entertained District): Offers a dense urban feel. There are a lot of bars, restaurants, coffee shops, and parks. The public schools are above average.
Palmetto Bay: Offers a suburban feel with a lot of residential homes. There are also a lot of park and the schools are highly rated.
Key Biscayne: Offers an urban-feel with restaurants, coffee, and park. The public schools are highly rated.
Miami Shores: Offers a dense suburban feel and there are a lot of restaurants and parks. The public schools are above average.
Surfside: Offers residents an urban feel and there are a lot of restaurants, coffee shops, and parks. The public schools are highly rated.
Apogee South Beach – Now That’s a Master Bathroom!!!
Yesterday morning, I had the opportunity to visit a few condo units at Apogee South Beach located at 800 South Pointe Drive in South Beach. The word “sensational” doesn’t even come close to fully encompassing the quality that has gone into this condo development. Apogee South Beach is in a league of its own, with quality that is unmatched by any condo development in South Florida.
The following are a few shots of the master bathroom that I took yesterday inside one of the two condos at Apogee South Beach. Trust me, the kitchens are equally as impressive, if not more so. I’ll likely share the photos of the kitchen at Apogee with everyone in a future post.
