The combined neighborhood of Coral Gables and Coconut Grove extended its winning streak in Q1 2025, recording the highest year-over-year sales growth against Miami's major luxury markets, Greater Downtown and Miami Beach. Along with the positive sales momentum, this pairing also recorded the lowest inventory levels in all of Miami, solidifying its position as one of the city's most dynamic and best-performing luxury condo markets with significant long-term potential. It's also worth noting that while buyer's market conditions prevailed across Miami neighborhoods owing to stable momentum paired with rising levels of inventory, Coral Gables and Coconut Grove offered a more balanced environment. That said, signs of a buyer-friendly market were still present, with some price pressure and extended days to market showcasing the impact of broader economic headwinds. In this full-length luxury condo market report for Q1 2025, we analyse how Coconut Grove and Coral Gables—two of Miami's...

Miami’s pre-construction condo market continued gaining momentum with a fresh wave of activity this April. Two Airbnb-friendly condo projects launched sales: 7200 Collins in North Beach and Twenty Sixth & 2nd Wynwood Residences in Wynwood. Rosso and Midtown Development also announced they will soon launch sales for Midtown Park by Proper. On the construction front, Continuum Club & Residences broke ground in North Bay Village, while Tula Residences resumed work after a year-long pause. At Mercedes-Benz Places, construction surpassed ground level, while The Perigon successfully completed its concrete slab pour.  The first glass was installed at both Domus ‘FLATS’ Brickell Park and E11even Residences Beyond, indicating that first buyers will soon be able to step into their brand-new home. Aria Reserve lit up Miami’s night sky with its newly activated exterior lighting, offering a dazzling preview. Read on to find out about a new Shigeru Ban-designed luxury condo arriving in...

Miami's luxury condo market started 2025 on a strong note, with steady sales and record-high prices suggesting a balanced outlook. However, higher inventory levels and our expert  experience with our clients reveal that the market remains weighted towards buyers, where excess supply has been giving buyers the leading edge. In Q1 2025, the standout trend for Miami's $1 million-and-up market was the average price per square foot surpassing $1,000—a key milestone that shows sellers continued to receive good value, even within a buyer's market. However, signs of price saturation are beginning to emerge, especially in the investor-focused segment, indicating an impending correction within the parameters of Miami's new normal landscape. The $2 million-and-up market saw little pricing pressure, as is expected of luxury product. Price per Square Foot increased 8.5% to $1,562 from $1,440 in Q1 last year, while Days on Market only marginally increased.  In our neighborhood-wise analysis for...

South Florida’s luxury condo market saw a flurry of pre-construction activity along the Gold Coast, driven by continued demand from affluent buyers. OKO Group and Cain International made headlines with their proposal for Palm Beach’s first new condo in nearly 20 years, featuring a three-tower enclave fronting the ocean and the Intracoastal.  Also this month, Waldorf Astoria Residences Pompano Beach broke ground on its highly anticipated new condo development, bringing its storied luxury hospitality to the shoreline.  Read on to find out more about Related Ross’ waterfront development that will feature fitness and wellness offerings exclusively curated by Equinox, along with other updates in our April 2025 pre-construction luxury condo market round-up for Fort Lauderdale and Palm Beach. — April 2025 – Fort Lauderdale & Palm Beach Condo Pre-Construction Market at a Glance Broke Ground Waldorf Astoria Residences – Pompano Beach Glass House – Boca...

Steady sales and record-high prices for Miami condos priced $1 million and higher defined the first quarter of 2025, making Miami’s luxury condo market seem less a buyer’s market than it really is. Despite elevated inventory levels, consistent demand and strong pricing trends underscored the overall market climate, giving a mixed outlook. Key Statistics for Luxury Condos in Miami in Q1 2025 Closed Sales: 364 Year-over-year Change in Closed Sales: Flat-positive (364 vs. 357 sales in Q1 2024) Quarter-over-quarter Change in Closed Sales: Flat-positive (364 vs. 355 sales in Q4 2024) Median Sales Price: $1.8M Year-over-year Change in Median Sales Price: -4.7% ($1.8M vs. $1.88M in Q1 2024) Quarter-over-quarter Change in Sales Price: +5.3% ($1.8M vs. $1.71M in Q4 2024) Median Price/Square Foot: $1,080 Year-over-year Change in Price/SF: +9.2% ($1,080 vs $989 in Q4 2024) Quarter-over-quarter Change in Price/SF: Inventory: 22 months   Looking at a quick snapshot of the...

Brickell and Brickell Key offer two distinct takes on Miami living, both highly sought after, but each with its own rhythm and appeal. For professionals, investors, and anyone drawn to a dynamic, walkable lifestyle, these neighboring communities consistently rank among the city’s most desirable addresses.  But if you’re considering living in Brickell, choosing between them comes down to what you value most: the pulse of the city at your doorstep, or the privacy of a small island retreat just a bridge away from it all. Here’s what you need to know as you decide which address better fits your lifestyle. Lifestyle Miami’s high-powered Brickell neighborhood is known as the “Manhattan of the South.” If you’ve spent any time here, you know that Brickell moves with the rhythm of city life. It’s very walkable, so you’ll find the sights of towering glass buildings reflecting the nearby water, bustling streets, and a constant energy that attracts many international professionals who...