Back in the Saddle Again: Luxury Waterfront Bounces Back!November 21, 2011
Miami beachfront luxury real estate’s season generally begins to taper off in the summertime—a trend that’s well known among our seasoned REALTORS®. However, the 2011 year has seen a surprising and welcoming turnaround that bodes well for the coming year.
Current market inventories are at an all-time low, especially at the ultra high-ends of the market, making this year’s prices the best we’ve seen since 2009! The Venetian Islands and Star Island have seen intense activity this year, with properties of the Sunset Islands bringing up a strong second wave of activity and action.
To the north, Palm Beach has had a strong real estate season, with South Beach condo sales also showing vigorous activity throughout 2011. The waterfront real estate of the Miami River and its surrounding area have been the focus of much energy, plans, activity and development, with private sector Miami real estate investments along the river showing all-time highs, indicating a trend towards significant growth and prosperity in the years to come. Welcome back, Miami!