Miami’s Luxury Condo Market Surges

Foreign buyers acquired more $1 million condos in 2011 than in the last year of the South Florida real estate boom in 2006, according to analysis of data from the Southeast Florida Multiple Listing Service Database.

Buyers purchased nearly 590 condos for at least $1 million each in 2011 after acquiring less than 500 high-priced units in 2006.

The 2011 luxury condo resale activity represents a 29% increase from 2010 when fewer than 460 units were purchased for at least $1 million each in Miami.

At the top of the list for the most expensive condo resale in the year 2011 is a penthouse in the Setai Resort & Residences in Miami Beach that sold for $21.5 million.  Buyers also paid $11.5 million for a penthouse in the Apogee condominium and $10.6 million for a high-floor unit in the Continuum On South Beach.

Nearly 20 ultra-luxury condominium units are on the resale market for at least $10 million each with one unit asking $38 million in Bal Harbour.

At least 5 new luxury condo towers are planned or under construction in Miami-Dade County where the proposed sales prices are expected to exceed $1 million each.

For more information on South Florida real estate please contact me at (305) 329-4929 or solovay.m@ewm.com.

Miami, FL Is Number One

Miami, FL is the number one town on REALTOR.com’s Q4 Top 10 Turnaround Towns Report.  According to the Miami Association of Realtors, sales of existing single family homes in the Miami Metropolitan Area increased 51% in the 3rd quarter compared to a year ago.  Miami has half as many properties in Realtor.com’s inventory of listings as it had a year ago.  Also, Miami continues to be a hot market for international buyers.  In May, international buyers purchased about 60% of the existing houses and condos and 90% of the newly built homes in Miami.  According to the experts, Miami, one of the hardest hit foreclosure markets, is on its way back.

Fort Lauderdale, FL made the list as well coming in at number eight.  The list also includes several other Florida cities.

I can help you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or solovay.m@ewm.com.

Luxury Portfolio International and EWM Realtors

Luxury Portfolio International the largest global network of premier locally branded companies dominated by many of the world’s most powerful independent luxury brokerages. The website was launched in 2005 and in its first year featured more $1 million-plus residences than other luxury real estate organizations. The network continues to grow and now markets over 25,000 of the world’s most remarkable homes annually and attracts over 1.2 million high-net-worth visitors a year. By presenting a gallery of the finest luxury properties and brokerage worldwide, the brand is recognized throughout the world as the luxury standard of excellence.

In addition, they are unmatched in the global arena, with properties in over 45 states and 27 countries, website visitors from over 200 countries/territories every month, site translation in nine languages, conversion to multiple currencies and a total inventory of available properties totaling almost $40 billion.

The 200 luxury affiliates represent the luxury component of an organization which encompasses nearly 550 companies, 4,600 offices and 140,000 associates producing $225 billion in annual home sales in 30 countries. Based in the United States, Luxury Portfolio InternationalTM is backed by the experience of the most well respected and well known experts in luxury real estate in markets worldwide. This group collectively has decades of experience in the high-end luxury real estate market.

News Release: City of Aventura’s Annual Halloween Harvest

When:  Sunday, October 30, 2011

Time:  1:00pm – 4:00pm

Where:  Aventura Community Recreation Center located 3375 NE 188th St, Aventura, FL  33180

Children and families are encouraged to come in costume and participate in the following:

• the fun maze
• bounce houses
• carnival games
• a trick or treat trail
• arts and crafts
• a costume parade

For more information contact the Community Recreation Center at (305) 466-3883 or visit the website at www.cityofaventura.com.

SEPTEMBER – 2011 Housing Trends Newsletter by Michael Solovay

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click on this link to view the Housing Trends SEPTEMBER – 2011 Newsletter http://southflorida911.housingtrendsenewsletter.com

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.

Housing Trends eNewsletter is filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, consumer videos, blogs, real estate glossary, mortgage rates and calculators, consumer articles, and REALTOR.com local community reports.

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report: http://southflorida911.housingtrendsenewsletter.com/dispContent.cfm?loadid=2&loadtype=0

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.

You can always contact me at (305) 329-4929 or solovay.m@ewm.com.

What Is The AVENTURA update?

Answer: A newsletter designed to inform the residents of Aventura.

Take a look at the latest AVENTURA update – Summer 2011:

For more information on the City of Aventura go to www.cityofaventura.com.

News Release:  Aventura Salutes America’s Veterans

When: Friday,  November 11, 2011

Time: 10:00am

Where: Aventura Arts and Cultural Center, 3385 NE 188th St, Aventura FL 33180

The City of Aventura will recognize the brave men and women who have served in the Armed Forces defending our nation’s freedom.  This year’s ceremony features:

• veterans from the Miami VA Healthcare System Welcome Home Operation
• personal reflections from local veterans
• patriotic performances by Aventura City of Excellence School
• participation from local veteran groups

For more information contact the Aventura Community Services Department at (305) 466-8930 or visit www.cityofaventura.com.

EWM Realtors – #1 Luxury Leader

EWM Realtors is #1 in luxury sales (residences priced in excess of $1,000,000) for the period January 2011 – August 2011 with 222 residences sold in Miami-Dade and Broward.  EWM Realtors is the exclusive affiliate of Christie’s International Real Estate for Miami-Dade and Broward Counties.   We have exclusive access to 32,000 global real estate professionals through our affiliate networks: Christie’s, Luxury Portfolio International and Mayfair International Realty.

If you want to work with the #1 Luxury Leader contact me to discuss your real estate needs at (305) 329-4929 or solovay.m@ewm.com.

]]> http://whatsthepointofaventura.com/2011/09/26/ewm-realtors-1-luxury-leader/feed/ 0 http://whatsthepointofaventura.com/2011/07/21/july-2011-housing-trends-newsletter-by-michael-solovay/ http://whatsthepointofaventura.com/2011/07/21/july-2011-housing-trends-newsletter-by-michael-solovay/#comments Thu, 21 Jul 2011 17:24:13 +0000 Michael Solovay http://whatsthepointofaventura.com/?p=3692

JULY – 2011 Housing Trends Newsletter by Michael Solovay

Welcome to the most current Housing Trends eNewsletter. This eNewsletter is specially designed for you, with national and local housing information that you may find useful whether you’re in the market for a home, thinking about selling your home, or just interested in homeowner issues in general.

Please click on this link to view the Housing Trends JULY – 2011 Newsletter http://southflorida911.housingtrendsenewsletter.com

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.

Housing Trends eNewsletter is filled with local and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, consumer videos, blogs, real estate glossary, mortgage rates and calculators, consumer articles, and REALTOR.com local community reports.

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report: http://southflorida911.housingtrendsenewsletter.com/dispContent.cfm?loadid=2&loadtype=0

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you.  I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.

You can contact me at (305) 329-4929 or solovay.m@ewm.com.

Summer 2011 Real Estate Market Update

This real estate market update is presented by Ron Shuffield, President of EWM Realtors.  Today’s great values, which are truly half those 5 or 6 years ago,  are one reason why sales have taken off so much in 2011.  However, since January 2011 we have begun to see an increase in our prices, month after month.

Click here to view the embedded video.

Median Prices

Single Family Homes: Miami-Dade County

• January 2011  $150,000

• May 2011 – $180,000

Single Family Homes: Broward County

• January 2011 – $165,000

• May 2011 – $190,000

Condominiums: Miami-Dade County

• January 2011 – $90,000

• May 2011 – $124,000

Condominiums: Broward County

• January 2011 – $68,000

• May 2011 – $78,000

This is the best time to purchase real estate in South Florida in the past 6 years.

For more information on the South Florida real estate market please contact me at (305) 329-4929 or solovay.m@ewm.com.