Industry Expert Answers Common Questions About Miami Luxury PropertiesDecember 11, 2022
Many people considering buying a luxury property in Miami have questions about where to find the most popular luxury homes, where to get the best value, and more. Founder of RGL Real Estate and Miami luxury Realtor Nick Robinson answers the most common questions people ask.
Miami luxury real estate is some of the most sought-after in the world, with numerous high-end properties in exclusive neighborhoods offering single-family homes in the luxury market and plenty of high-rise condominiums plus townhome offerings, many have that stunning Biscayne Bay view that brings so many to Miami in the first place. Many of these properties are located in private, gated waterfront communities boasting stunning views of the Atlantic Ocean or Biscayne Bay. Founder of RGL Real Estate and Miami luxury Realtor Nick Robinson answers the top questions about the state’s most desirable properties.
What Is The Average Price Of Luxury Real Estate In Miami?
According to the National Association of Realtors (NAR), the average price of a luxury home in Miami is $2.2 million. That does not tell the whole story, however. Average prices of luxury real estate in Miami are highly dependent on the specific area and type of property, creating micro-communities of “average prices.” This information is vital and one of the reasons why it’s crucial to hire a local real estate expert and not just any agent. The Miami area is home to some of the most expensive properties in the world, with prices ranging from $1 million for a small condo to over $20 million for a large waterfront estate. In general, luxury real estate in Miami is priced between $1 million and $10 million.
What Is The Average Square Footage Of Luxury Real Estate In Miami?
As in most places, the average size or square footage of luxury real estate in Miami varies significantly depending on the specific location, the type of property, and the price range. Though the size is not the only defining factor, luxury real estate in Miami is typically larger than the average home size in the city, with the average size ranging from 2,000 to 4,000 square feet. For single-family homes, luxury properties in Miami range from 3,000 to 6,000 square feet. Outdoor living space is also common with luxury homes and especially homes with ocean, bay, or intracoastal views of the water.
What Is The Average Price Per Square Foot Of Luxury Real Estate In Miami?
The average price per square foot of luxury real estate in Miami varies greatly depending on the specific neighborhood and type of property. Generally, luxury real estate in Miami can range from $500 to $2,000 per square foot. For example, the average price per square foot for luxury real estate in Miami Beach is around $1,000. Are you looking for a single-family home or a condominium? Are you looking for a home directly by the water or are you flexible? These are just a few factors that will determine the average price per square foot. These are questions that an expert real estate agent will ask you upfront to narrow your search down, along with helping to guide you into the suitable price range for your budget if you have one.
What Are The Most Popular Luxury Real Estate Markets In Miami?
Miami luxury Realtors commonly get asked which are the most popular luxury neighborhoods. From waterfront estates to high-rise condos and penthouses, Miami offers something for everyone looking for a luxurious home. Within Miami, there are many distinct and diverse communities. The most popular luxury real estate markets in Miami include Downtown Miami, South Beach, Coconut Grove, and Coral Gables. Downtown Miami is the heart of the city, home to some of the most iconic skyscrapers in the world. The key to narrowing down the right local community for you will be to discuss all this with your Realtor so that he/she can pinpoint the perfect neighborhood or community for you.
What Are The Most Expensive Luxury Real Estate Markets In Miami?
Miami’s most expensive and competitive luxury real estate markets are Miami Beach, Bal Harbour, and Coconut Grove. Miami Beach is one of the most desirable areas in South Florida, with its beautiful beaches, vibrant nightlife, and world-class shopping. Bal Harbour is a small village located on the northern tip of Miami Beach and is known for its exclusive shopping, high-end restaurants, and luxurious real estate.
What Are The Most Affordable Luxury Real Estate Markets In Miami?
The most affordable luxury real estate markets in Miami are the neighborhoods of Little Havana, Wynwood, and Allapattah. Little Havana is an up-and-coming neighborhood located just west of downtown Miami. It is home to a vibrant Cuban community, and its real estate market is a mix of older, more affordable homes and newer luxury developments. The area is known for its vibrant culture, art galleries, restaurants, and music venues. Wynwood is a community that has recently undergone an enormous transformation from warehouses to one of the chicest artistic communities in Miami.
About The Robinson Group
Founded and managed by Miami luxury Realtor Nick Robinson, The Robinson Group is an innovative agency serving national and international clients. The industry-leading listing agent provides uncompromisingly superior customer service and unmatchable access to qualified buyers and sellers.
If you are looking for a Miami luxury Realtor that specializes in serving the needs and interests of the luxury home buyer or seller, consider contacting Nick Robinson and The Robinson Group. You can reach the group by phone at (305) 504-4235.