MIAMI, FL, USA, June 8, 2023/EINPresswire.com/ -- The sale of homes valued at $1 million or more in Miami-Dade Country registered an impressive increase of 94.3% in April 2023 when compared to pre-pandemic times. According to April 2023 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system, the number of transactions rose from 175 to 340, continuing the historic boom in luxury sales that Miami-Dade has been experiencing. Interestingly, around 45% of all luxury sales in Miami have taken place since the start of the pandemic in March 2020.

The influx of buyers from California and New York who have relocated their businesses and families to Miami has greatly contributed to the surge in the real estate market.

Moreover, the total median sale prices have once again increased, solidifying Miami's position as the leading market in real estate appreciation across the nation.

Florida topping the real estate market in the US

According to Daniel Pansky, Director of Luxury and International Sales, Florida has claimed the top spot in the United States for the largest net gain of adjusted gross income (AGI) owing to domestic migration, with an impressive $23.7 billion gained.

The 2023 Knight Frank Wealth Report, Miami ranks fourth in the world for super-prime real estate transactions ($10 million and above) and fifth for ultra-prime sales ($25 million and above).

Supply and demand dynamics

The prices of homes are influenced by the dynamics of supply and demand. When the supply of homes is limited and the demand is high, prices tend to rise. In the case of Miami, both single-family homes and condos are experiencing low inventory levels, contributing to increased home prices. Furthermore, rental rates play a role in supporting home prices, and in Miami, rents have been on the rise.

A higher percentage of cash buyers in Miami reflects its position as a top real estate market for foreign buyers and individuals relocating from more expensive U.S. markets. Cash buyers are not deterred by rising mortgage rates, as they can leverage their funds from real estate sales or have the financial means to purchase properties outright. Cash sales accounted for 50.5% of all existing condo sales in Miami and 22.7% of single-family transactions.

“What separates Miami Luxury Real Estate LLC from others is our attention to detail, superb negotiating skills for buyers/sellers, and handling our clients with white gloves. Also, a professional network of lawyers, accountants, and other services catering to the HNWI. Our work ethic and professionalism are unparalleled,” says Kuzina.

Miami Luxury Real Estate LLC is also currently representing several buyers and sellers on Fisher Island and Sunny Isles Beach in the $5-$38 million range.

Miami Luxury Real Estate LLC also specializes in pre-construction branded projects with preferential pricing and selection for their clients. Miami Luxury Real Estate is an official authorized preferred seller of all the branded real estate projects in Miami and has one of the most extensive websites for Luxury Real Estate in Miami - www.miamiluxuryrealestates.com.

Winner of Best Luxury Real Estate Brokerage in Florida 2021 and 2022.

For all your Luxury Real Estate buying and selling needs, please call Daniel Pansky, Miami Luxury RE LLC, +1-855-75-MIAMI (64264), or visit our website at www.miamiluxuryrealestates.com

Maria Kuzina
Miami Luxury RE LLC
+1 754-217-1402
email us here
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