I’m often asked by both buyers and sellers interested in purchasing or selling a waterfront (and non-waterfront) single family home on Miami Beach if we’ve reached a housing market bottom? The answer for PRIME waterfront properties located on island communities such as Palm, Star, Hibiscus, Sunset Islands I – IV, and the various Venetian Island communities is that homes that are priced according to latest closed sales comparables are selling quickly. As inventory continues to be absorbed, we are seeing price stabilization (especially for remodeled and turnkey homes and condos).
Waterfront condos, especially premier waterfront and oceanfront buildings such as Continuum North and South Towers, Apogee, The Portofino, The Murano at Portofino, Murano Grande, Icon, and even The Bentley Bay on West Avenue are also seeing significant sales taking place in the past several months AT REDUCED PRICES. For South Beach landmark luxury buildings completed after 2001, if the price is right, we are seeing plenty of buyers willing to make reasonable offers. Therefore, if you’re a seller that needs to sell, my advice is the same- work with an experienced and knowledgeable sales agent/broker that will price your property realistically and then market as agressively as possible.
