Snapshot of the South Florida Luxury Market

One of the great benefits of working with an EWM Realty International Realtor® is that behind every experienced Broker, is a wealth of experts researching and analyzing not only our South Florida marketplace, but national and international markets as well.

We all contribute our own unique expertise and insights, and share our analyses with the EWM community. Ultimately, after all the numbers are done being gathered and crunched, terrific insights are revealed that we can then share with you.

EWM Realtors really do have the most current pulse of the local market today – and for the future.

Today, I share some new market information from the recent publication of the EWM Insight – Mid-Year Update. Of most interest to me right now is a snapshot of the Luxury Market in South Florida:

1.) Inventory of properties priced at $1 million or more in Miami-Dade is up 49%. As the amount of homes in this price range rises, it puts pressure on pricing and the pace of sales.

2.) For the first time since 2010, the amount of single-family home sales in this price range have outpaced condo sales.

The net result and general theory at this point is that the Miami-Dade inventory will level off after a series of significant increases in 2016. And, while stabilizing inventories are a positive step overall, sales for all prices ranges continues to be flat as we move into the second half of 2016.

My personal point of view is that with the correct pricing, your home will sell well in any environment. My own strategies for determining competitive pricing are not only based on a quick sale, but work to ensure that my listing client’s financial and timing needs are met.

Bottom line? Smart and fair pricing will result in the successful sale of your home.

If you need help buying or selling a home give Ashley Cusack a call at 305.798.8665, or visit her website at: Luxury Miami Real Estate