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Broward County Home Prices Increased in October

Broward County Home Prices Increased in October

The Fort Lauderdale real estate market continued its upward march in October. The median price of a single-family home in Broward County rose 27.6 percent to $270,000 from $211,550 in October of last year. The median price of a condo increased 29.2 percent in the same time period.

Sales also rose 1.6 percent in October, even though inventory remained low. Sellers fetched closer to their asking price, and homes were on the market for fewer days, due to high demand and limited supply.

For more information on luxury real estate in South Florida, contact Seaside Properties Group at Douglas Elliman at 1-888-242-4422.

Source: Miami Herald

Fort Lauderdale real estate

Home and Condo Sales in Miami Continue to Increase

Home and Condo Sales in Miami Continue to Increase

Miami single-family homes and condos continued to see double-digit price appreciation in August. The Miami real estate market continues to entice both domestic and international buyers, and this unprecedented demand is driving up home sales and prices.

Single-family home sales in Miami rose 15.1% in August, from 1,051 sales a year prior to 1,210 transactions this year. Miami condo sales increased 7.9% to 1,592 sales this August from 1,476 sales in August of 2012.

While inventory is slightly increasing, sales are continuing to break records. Numerous new condo developments in Miami are in various stages of planning to help meet the robust demand.

Miami Real Estate

Miami

Manalapan Home on the Market for 45 Million Dollars

Manalapan Home on the Market for 45 Million Dollars

The real estate market in South Florida continues to sizzle. A luxury oceanfront home in Manalapan is on the market for $45 million.

Located at 800 S. Ocean Boulevard in Manalapan, the impressive estate has 18,000 square feet of living space and 203 feet of direct ocean frontage. The home also features 8 bedrooms, 11 bathrooms, a VIP suite, an underground garage, 2 pools and a tennis court.

For more information on South Florida real estate, contact Seaside Properties Group at Douglas Elliman at 1-888-242-4422.

Source: South Florida Business Journal

South Florida Real Estate

South Florida Real Estate

 

Miami Home Sales Rose in July

Miami Home Sales Rose in July

The Miami real estate market is thriving due to strong demand and insufficient inventory. Home sales are at levels unseen since the last real estate boom in 2005.

In Miami, single-family home sales ascended 27.3 percent in July. There were 1227 home sales in July of this year, compared to 964 in July of 2012. Miami condo sales increased 13.4 percent over the same time period, from 1356 condo sales in July of 2012 to 1568 sales this July.

While there was a slight increase in housing inventory, the current supply is still insufficient to meet the heavy demand. A surge in new condo developments in Miami is aiming to help alleviate this problem.

Grove at Grand Bay

Grove at Grand Bay, New Construction in Miami

South Florida Continues to See an Influx of New Residential Construction

South Florida Continues to See an Influx of New Residential Construction

Since October of 2012, developers in South Florida have proposed an average of 1,000 new condo units each month. At the current pace, South Florida can expect 145 new residential buildings, with the majority of those projects set to rise in Miami and Miami Beach.

The influx of new condos comes as the inventory from the last condominium boom shrinks. Some notable new developments include:

 

A full list of new luxury construction in South Florida can be found here. For additional information on any of these new buildings, contact Niki Higgins at 1-888-242-4422.

Jade Signature in Sunny Isles Beach

Miami Beach Mansion Sells for Record-Breaking $30 Million

Miami Beach Mansion Sells for Record-Breaking $30 Million

In another example of the booming South Florida real estate market, a sprawling Miami Beach waterfront mansion has sold for a record-breaking $30 million. The Mediterranean mansion known as Castello del Sol is located on prestigious La Gorce Island.

Castello del Sol includes 8 bedrooms, 9 1/2 bathrooms, a library, a theater, a double kitchen, a rooftop lounge, hand-painted ceilings and gold accents. The luxury waterfront home also features a one-bedroom guest house, a 2-bedroom staff condo and an on-property guard house. The lavish estate sits on 349 feet of water frontage.

The sale of Castello del Sol is the most expensive ever recorded on La Gorce Island, and it is tied for the 3rd most expensive sale ever recorded in Miami-Dade County.

Source: South Florida Business Journal

Castello del Sol, Waterfront Mansion in Miami Beach

Castello del Sol, Waterfront Estate in Miami Beach

Palm Beach Mansion Sells for $42 Million

Palm Beach Mansion Sells for $42 Million

A waterfront mansion sold for $42 million in Palm Beach. The ultra luxury estate at 1220 S. Ocean Blvd. was developed as a spec home and was listed for $74 million.

Located on exclusive Billionaire’s Row, the lakefront estate was completed in 2011. It has never been lived in and features 200 feet of waterfront. The home and guesthouse include 27,000 square feet of living space, including a 4,000-square-foot master suite and 8 additional bedrooms.

The $42 million price tag is the second highest price recorded for a lakefront home in Palm Beach. The highest price ever recorded for the sale of a luxury residence on the Intracoastal Waterway was $50 million in 2006.

Source: Palm Beach Daily News

1220 S Ocean Blvd Palm Beach

1220 S Ocean Blvd, Waterfront Mansion in Palm Beach

 

Miami Heat Players Make Moves in High End Real Estate

Miami Heat Players Make Moves in High End Real Estate

After a 7-game series with the Pacers, the Miami Heat are headed to the NBA Finals to take on the Spurs. Luckily, the athletes can rest up in some of Miami’s most in demand property during the team’s downtime. Off the basketball court, Heat players have been taking advantage of Miami’s hot real estate market.

LeBron James owns in a 12,000-square-foot, Coconut Grove home he purchased for 9 million dollars. The waterfront estate features 6 bedrooms and 8.5 bathrooms. Teammate Chris Bosh purchased a 12.5 million dollar home on North Bay Road in Miami Beach. Dwyane Wade also lives on exclusive North Bay Road. His waterfront home contains 13,000 square feet of living space.

Heat President Pat Riley owns a penthouse in the Apogee, an exclusive condominium building in Miami Beach’s South of Fifth neighborhood. The penthouse residence was purchased for 11.75 million dollars.

Source: South Florida Business Journal

LeBron James Home in Coconut Grove

LeBron James’ Home in Coconut Grove

The Grove at Grand Bay Is Coming to Miami's Coconut Grove Neighborhood

The Grove at Grand Bay Is Coming to Miami’s Coconut Grove Neighborhood

The Terra Group plans to break ground on a new, luxury condominium in Coconut Grove on June 5th. The Grove at Grand Bay features eco-conscious design and panoramic views of Sailboat Bay, the marina and the city skyline.

The luxury development consists of two 20-story glass towers that twist to showcase the most inspiring views. Designed by Danish architect Bjarke Ingels, the Grove at Grand Bay has 98 units, with prices for a 3-bedroom residence starting at 3 million dollars. The exclusive waterfront condos will feature floor-to-ceiling glass and large balconies.

Currently, the 59-unit North Tower is nearly sold out. Sales in the South Tower began a few month ago. The project has a projected 2014 completion date.

Source: The Miami Herald

Grove at Grand Bay, Waterfront Condos in Miami

Grove at Grand Bay, Waterfront Condos in Miami

The Luxury Market in South Florida Continues to Record New Highs

The Luxury Market in South Florida Continues to Record New Highs

South Florida’s real estate market is continuing its upward march, with the luxury end leading the charge. Prices are rising, and home sales are breaking records.

The luxury housing market was less affected by the market crash. Wealthy sellers are able to hold on to their property through rough financial times. Therefore, the luxury end was the first to rebound, and home prices have now passed their prior highs.

Alex Rodriguez recently sold his Miami Beach home for 30 million dollars, a new record in Miami Beach. A Fort Lauderdale waterfront home recently sold for 14.5 million dollars, a near record in Broward County. Luxury waterfront condo prices are also following this trend. Two penthouse units in the Miami Beach Edition were sold to one buyer for 34 million dollars.

Source: The Miami Herald

Miami Beach Edition

Miami Beach Edition