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Miami Beach Luxury Condo Market Report Q2 2021

by Sep Niakan, August 07, 2021

Miami Beach Luxury Condo Market Report Q2 2021
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Riding the wave of record-highs and record-lows, the luxury condo market in Miami Beach carries forward its phenomenal performance from Q4 2020 and Q1 2021 into Q2 2021. Posting triple-digit growth, all Miami Beach neighborhoods reported record-high sales, with Mid-North Beach emerging as the best-performing neighborhood.

In terms of prices and inventory, Fisher Island emerges as a clear favorite as always – posting the most expensive price per square foot and record-low inventory. Sunny Isles Beach emerges as the neighborhood with the highest percentage growth in year-over-year price per square foot, offering maximum returns for sellers in Miami Beach. South Beach, Mid-North Beach, and Surfside and Bal Harbour – all tied for second place with the lowest months of inventory in all of Miami.

Miami Beach, just like the overall Miami Luxury Condo Market for Q2 2021, has officially stepped into a seller's market. After years of being a buyer-friendly market, the tables have turned with sellers gaining control of negotiations (evidenced in the steadily rising prices). Read on for more trends in our exclusive and detailed analysis on how each Miami Beach neighborhood fared against each other, as well as against the overall Miami luxury condo trends in Q2 2021.

For the purposes of this report, we've included in "Miami Beach" the sub-neighborhoods of South Beach, Mid-Beach, North-Beach, Sunny Isles Beach, Surfside, Bal Harbour, and Fisher Island as part of our Miami Beach grouping. Also, this luxury condo submarket report only features properties priced at $1 million and above.


Miami Beach Overall Luxury Condo Market Highlights - Q2 2021:

  • Record-breaking Sales increase 620.3% year-over-year -- Mid-North Beach is the highest percentage contributor
  • 12-month Sales Trendline stays positive for 3 consecutive quarters -- Q4 2020 through to Q2 2021
  • Price per Square Foot up 10.7% year-over-year to $1,036 -- at record-high in more than 5 years
  • Median Sales Price up 26.5% year-over-year
  • Days on Market stay flat year-over-year
  • Inventory down 85.5% year-over-year to record-low of 8 months

Miami Beach Sub-neighborhood Highlights - Q2 2021:

  • Winner: Mid-North Beach leads Q2 sales growth in Miami Beach with highest percentage (956%) year-over-year increase -- 3rd-highest sales growth of all Miami neighborhoods 
  • All Miami Beach neighborhoods post the highest-ever quarterly sales in over 6 years
  • 12-Month Sales Trendline keeps positive across the board for 3 consecutive quarters -- from Q4 2020 through to Q2 2021
  • Winner: Sunny Isles Beach luxury condos offered maximum value to sellers in Miami Beach with highest percentage growth (38.5%) in year-over-year Price per Sq. Ft., closely followed by Surfside and Bal Harbour (37.6%)
  • Fisher Island reports highest Median Sales Price of $6.1 million in all of Miami
  • Fisher Island continues to be the most expensive neighborhood in all of Miami, priced at $1,644/sq. ft. -- maintains top-spot for 3 consecutive quarters
  • Mid-North Beach reports highest percentage decline in year-over-year Days on Market (-15%), while Fisher Island reports highest percentage increase (27%) in Miami Beach
  • Fisher Island reports lowest inventory (5 months) in Miami, closely followed by South Beach, Mid-North Beach, plus Surfside and Bal Harbour (7 months each)
  • Miami Beach's luxury condo market is now a seller's market


Miami Beach Overall Luxury Condo Markets at a Glance - Q2 2021 YoY (Median Sale Price)

Miami Beach Overall Luxury Condo Markets at a Glance - Q2 2021 YoY (Median Sale Price)


Miami Beach Luxury Condo Markets at a Glance - Q2 2021 YoY (Median Sales Price / SqFt)

Miami Beach Luxury Condo Markets at a Glance - Q2 2021 YoY (Median Sales Price / SqFt)


Miami Beach Luxury Condo Markets at a Glance - Q2 2021 YoY (Number of sales)

Miami Beach Luxury Condo Markets at a Glance - Q2 2021 YoY (Number of sales)

Table of Contents

  1. Overall Q2 2021 Miami Beach Luxury Condo Market Trends
  2. Q2 2021 South Beach Luxury Condo Market Trends
  3. Q2 2021 Mid and North Beach Luxury Condo Market Trends
  4. Q2 2021 Surfside & Bal Harbour Luxury Condo Market Trends
  5. Q2 2021 Sunny Isles Beach Luxury Condo Market Trends
  6. Q2 2021 Fisher Island Luxury Condo Market Trends
  7. Conclusion - Q2 2021 Miami Beach Luxury Condo Market Report

Q2 2021 Miami Beach Luxury Condo Market Summary - Fig. 1

Quarters

Number of Sales

% change in Sales

Median Sale Price

% change in Median Sale Price

Median Sp/Sqft

% change in Median Sp/Sqft

Median of DOM

Q2-2021

533

620.3%

$2,150,000

26.5%

$1,036

10.7%

97

Q2-2020

74

$1,700,000

$936

99

 

Miami Beach: Luxury Condo Sales Up to Record-High

620.3% growth in year-over-year sales + positive trendline. From reporting the lowest sales in a second-quarter last year to the highest quarterly sales seen in over 6 years of our reporting, the luxury condo market in Miami Beach (collectively) has made phenomenal progress. Posting record-breaking sales for three straight quarters, half-year sales in Miami Beach have already outpaced the annual sales of 2020 (497), 2019 (507), or any other previous year under review (Fig. 2.1).

Consistent with the positive sales trends seen in the overall Miami report for Q2 2021, this coastal grouping reported 620.3% growth in year-over-year sales and 265% growth over the pre-pandemic Q2 2019 – showing that sales momentum has gone through the roof and beyond what could have been predicted.

South Beach, with its highest sales volume (165), and Mid-North Beach with its highest percentage increase in year-over-year sales (956%), are the biggest contributors to the soaring sales growth seen in Miami Beach. (See Markets at a Glance – Q2 2021 YoY Number of Sales chart above.)


Miami Beach Luxury Condo Quarterly Sales 2015-2021 - Fig. 2.1

Miami Beach Luxury Condo Quarterly Sales 2015-2021 - Fig. 2.1


A closer look at the monthly sales in Fig. 2.2 reveals that volumes peaked during the month of April and gradually declined by the end of the quarter. While April closed with 198 sales, May closed a notch lower with 176 sales, and June closed the quarter with 159 sales.

Just like we saw and mentioned in the overall Miami report, this gradual decline in monthly sales volume could be hinting that the market may have reached its apex. Considering that the second quarter of the year is generally the strongest, we, as real estate experts, expect the market to cool down for a few cycles. However, given the intense momentum seen over the last three quarters, we still expect Miami's luxury condo market to close the year on a very strong note.


Miami Beach Luxury Condo Monthly Sales from Jan. 2016 to Jun. 2021 - Fig. 2.2

Miami Beach Luxury Condo Monthly Sales from Jan. 2016 to Jun. 2021 - Fig. 2.2


Miami Beach Luxury Condo 12-Month Sales with Trendline - Fig. 2.3

Miami Beach Luxury Condo 12-Month Sales with Trendline - Fig. 2.3


With sales booming to new levels over the last three quarters, the 12-month Sales Trendline (Fig. 2.3) stayed positive from Q4 2020 through to Q2 2021.


Miami Beach: Median Price per Square Foot Up to Highest in 5 Years

Price per Square Foot up 10.7% to a new high of $1036. Median Sales Price up 26.5% year-over-year. Consistent with the overall Miami market trend of higher year-over-year prices, Miami Beach also reported an increase in both its median price per square foot and sales price in response to this extended surge in demand.

The Price per Sq. Ft. increased 10.7% year-over-year, up from $936 in Q2 last year to $1,036 for the same quarter 2021. Remarkably for sellers, a closer look at the five-year snapshot of quarterly prices per square foot below (Fig. 3) reveals that prices are at an all-time high in this coastal neighborhood -- showing that sellers in Miami Beach received top value for their luxury condos.

The Median Sales Price also increased 26.5% year-over-year, up from $1,700,000 in Q2 2020 to $2,150,000 for the same quarter this year (Fig. 1).


Miami Beach Quarterly Sales Price per Sq. Ft. 2016-2021 - Fig. 3

Miami Beach Quarterly Sales Price per Sq. Ft. 2016-2021 - Fig. 3


Miami Beach: Days on Market Flat YoY

Days on Market stays flat year-over-year. Partly in line with the overall Miami market trend of lower days on market, luxury condos in Miami Beach spent fewer days on the market quarter-over-quarter, but almost the same number of days year-over-year.

Luxury condos in this coastal district spent 23 fewer days compared to Q1 this year and just 2 fewer days on market compared to Q2 last year (Fig. 4). 

The above reduction reflects the actual market pace, as opposed to the past two quarters, where the statistic did not drop despite booming sales. The previous two quarters reported higher days on market due to sellers re-activating paused listings, adding to their property's total days spent on the market. However, in Q2 2021, the metric has normalized (reduced) as most of these older listings sold off -- capturing the actual pace of closings.


Miami Beach Quarterly Days on Market 2018-2021 – Fig. 4

Miami Beach Quarterly Days on Market 2018-2021 – Fig. 4


Miami Beach: Inventory Down YoY to Record-Low – Enters a Seller's Market

Q2 2021 closes with 8 months of inventory. Just like the overall Miami trend, luxury condo inventory nearly disappeared quarter-over-quarter as well as year-over-year in Miami Beach. At 8 months, inventory is down 85.5% from its peak in June 2020 of 55 months. On a quarter-over-quarter basis, inventory is down to half from 16 months in March (Fig. 5).

Reporting a huge market correction, inventory is down to its lowest levels in our 6 years of reporting and now within the ideal 9-12-month range of a balanced market. This puts sellers in control of decision-making and negotiations, marking the end of the long-standing buyer-friendly market we've been reporting over the past 5-6 years. With demand outpacing supply, sellers in Miami Beach are enjoying multiple, highly competitive offers on their luxury condos.


Miami Beach Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 5

Miami Beach Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 5

A balanced market has only 9-12 months of inventory. The months of inventory are calculated as – number of active listings + number of pending listings, divided by the average number of deals in the last 6 months.

Looking for a market valuation on your Miami Beach condo? Call, chat, or email us for a FREE market evaluation of your property to make the most of this lucrative seller's market.


Miami Beach Neighborhoods: Q2 2021 South Beach (ZIP 33139)

Q2 2021 South Beach Luxury Condo Market Summary - Fig. 6

Quarters

Number of Sales

% change in Sales

Median Sale Price

% change in Median Sale Price

Median Sp/Sqft

% change in Median Sp/Sqft

Median of DOM

Q2-2021

165

489.3%

$2,250,000

26.6%

$1,298

20.3%

81

Q2-2020

28

$1,777,500

$1,079

78


South Beach: Luxury Condo Sales Up YoY to New Record

489.3% growth in year-over-year sales + positive trendline. Reporting the highest sales volume in all of Miami Beach for a second straight quarter, sales in South Beach posted a brand-new record. With a total of 165 closed sales this quarter, the beach destination triples its past high quarters by registering the highest quarterly sales seen in over 6 years of our reporting (and before from personal experience).

Posting an impressive 489% increase in year-over-year sales, half-year numbers (278 sales) have already outpaced the annual sales of 2020 (118), 2019 (149), or any other previous years under review. This shows that the luxury condo market has not only bounced back from the pandemic-caused slowdown last year, but like the rest of Miami, is now in a new market even compared to some of the strongest cycles seen in the past 6 years (and before).

Owing to this incredible pace, the 12-month Sales Trendline in Fig. 7.2 stayed positive from Q4 2020 through to Q2 2021.


South Beach Luxury Condo Quarterly Sales 2015-2021 - Fig. 7.1

South Beach Luxury Condo Quarterly Sales 2015-2021 - Fig. 7.1


South Beach Luxury Condo 12-Month Sales with Trendline - Fig. 7.2

South Beach Luxury Condo 12-Month Sales with Trendline - Fig. 7.2


South Beach: Luxury Condo Price per Square Foot + Sales Price Up YoY

Price per Square Foot up 20.3% year-over-year to $1,298. Median Price up 26.6% year-over-year. Consistent with the year-over-year price growth seen in the overall market, South Beach reported an increase in both its price per square foot and median sales price.

The Price per Square Foot increased 20.3%, up from $1,079 in Q2 last year to $1,298 in Q2 2021. The Median Sales Price also increased 26.6%, up from $1,777,500 in Q2 2020 to $2,250,000 for the same quarter this year (Fig. 6).

A look at the five-year snapshot of quarterly Price per Square Foot below (Fig. 8) reveals that prices closed in the higher ranges for South Beach. It is also worth noting that South Beach posts the second-most expensive price per square foot of all Miami Beach neighborhoods under review (behind the most expensive neighborhood of Fisher Island) -- indicating great value for sellers in the area.


South Beach Luxury Condo Quarterly Price per Square Foot 2016-2021 - Fig. 8

South Beach Luxury Condo Quarterly Price per Square Foot 2016-2021 - Fig. 8


South Beach: Days on Market Up YoY

4% increase in year-over-year Days on Market. Deviating slightly from the overall Miami market trend of lower year-over-year days on market, luxury condos in South Beach spent 3 more days on the market compared to Q2 2020. However, on a quarter-over-quarter basis, luxury condos spent 30 fewer days on market compared to Q1 2021 (Fig. 9).

As mentioned above, the days on market trends have been showing higher for neighborhoods due to paused listings being reactivated by owners, instead of any actual delay in properties selling. Considering South Beach's marginally higher days on market, it seems that more paused listings made a comeback this Q2 2021, keeping the year-over-year trend higher. 


South Beach Luxury Condo Quarterly Days on Market 2018-2021 - Fig. 9

South Beach Luxury Condo Quarterly Days on Market 2018-2021 - Fig. 9


South Beach: Inventory Down YoY to One of Lowest in Miami

Q2 2021 closes with 7 months of Inventory. In sync with the overall Miami trend, luxury condo inventory in South Beach dropped to a new low in over 6 years. Luxury condo inventory in the neighborhood is not only one of the lowest in Miami Beach, but also all of Miami – South Beach shares the spot for "second-lowest inventory" in Miami Beach with Mid-North Beach and the collective neighborhood of Surfside and Bal Harbour.

At 7 months, inventory is down 80.5% from 36 months in June 2020. It is also 53% lower than March's closing of 15 months (Fig. 10). With luxury condo inventory settling within the 9-12-month range of an ideal market, sellers are now in control of negotiations in South Beach and have the liberty to choose from multiple competitive offers.


South Beach Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 10

South Beach Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 10


Miami Beach Neighborhoods: Q1 2021 Mid and North Beach (ZIP 33140 & 33141)

Q2 2021 Mid-North Beach Luxury Condo Quarterly Market Summary - Fig. 11

Quarters

Number of Sales

% change in Sales

Median Sale Price

% change in Median Sale Price

Median Sp/Sqft

% change in Median Sp/Sqft

Median of DOM

Q2-2021

95

955.6%

$1,570,000

23.1%

$965

11.9%

100

Q2-2020

9

$1,275,000

$863

118


Mid-North Beach: Luxury Condo Sales Up YoY – Lead Sales Growth in Miami Beach

955.6% growth in year-over-year sales + positive trendline. Mid-North Beach might be known as the quieter side of Miami Beach, but it has definitely been making noise in terms of sales. In Q1 2021, the sub-market reported the second-highest percentage growth in year-over-year sales of all Miami Beach neighborhoods. Fast forward a quarter and it boasts of a 955.6% jump in year-over-year sales – leading sales growth in all of Miami Beach and posting the 3rd-highest growth percentage in overall Miami.

Setting a brand-new record in quarterly sales, half-year sales (169) in Mid-North Beach are already greater than the annual sales of 2020 (92), 2019 (105), or any other previous year under review (Fig. 12.1) -- just like the overall Miami market trend.

Owing to this consistent increase in momentum for 3 straight quarters, Mid-North Beach reports a positive 12-month Sales Trendline from Q4 2020 through to Q2 2021 (Fig. 12.2).


Mid-Beach and North-Beach Quarterly Sales 2015-2021 - Fig. 12.1

Mid-Beach and North-Beach Quarterly Sales 2015-2021 - Fig. 12.1


Mid-Beach and North-Beach 12-Month Sales with Trendline - Fig. 12.2

Mid-Beach and North-Beach 12-Month Sales with Trendline - Fig. 12.2


Mid-North Beach: Luxury Condo Prices Up YoY - Both Price per Square Foot + Sales Price

Price per Square Foot up 11.9% to $965. Median Sales Price up 23.1% year-over-year. Consistent with the overall market trend in Miami, this collective neighborhood reported an increase in both its median price per square foot and sales price in response to the surge in demand.

In Q2 2021, the Price per Square Foot increased 11.9%, up from $863 in Q2 2020 to $965 this year. The Median Sales Price also increased by 23.1%, up from $1,275,000 in Q2 last year to $1,570,000 this year (Fig. 11).

A look at the five-year snapshot of quarterly Price per Square Foot below (Fig. 13) reveals that prices closed in the mid-ranges for Mid-North Beach -- hinting at further room for growth for luxury condo sellers.


Mid-Beach and North-Beach Quarterly Price per Sq. Ft. 2016-2021 - Fig. 13

Mid-Beach and North-Beach Quarterly Price per Sq. Ft. 2016-2021 - Fig. 13


Mid-North Beach: Days on Market Down YoY

15.3% decrease in year-over-year Days on Market. Slightly deviating from the overall Miami market trend of lower year-over-year days on market, Mid-North Beach reports a decline in year-over-year numbers but an increase in quarter-over-quarter days on market.

Luxury condos in Mid-North Beach spent 18 fewer days on the market compared to Q2 2020. However, on a quarter-to-quarter basis, luxury condos spent 7 more days on market (Fig. 14).

As mentioned earlier in this report, the market has been seeing an increase in days on market as older (paused) listings have been making a comeback. With owners becoming more aware of the shift in market conditions (transitioning from buyer-friendly to seller-friendly), it seems more sellers found the confidence to re-list this past quarter - increasing the quarter-over-quarter days spent on market. 

Nonetheless, Mid-North Beach still reported the highest percentage decline in year-over-year Days on Market – making it one of the faster-selling sub-markets in Miami Beach.


Mid-Beach and North-Beach Luxury Condo Quarterly Days on Market 2018-2021 – Fig. 14

Mid-Beach and North-Beach Luxury Condo Quarterly Days on Market 2018-2021 – Fig. 14


Mid-North Beach: Inventory Down YoY to One of Lowest in Miami

Q2 2021 closes with 7 months of Inventory. Consistent with the overall Miami market trend, luxury condo inventory in Mid-North Beach is at its lowest in more than 6 years. Sharing the second spot for lowest inventory in Miami Beach and overall Miami, Mid-North Beach reports 7 months of inventory – same as South Beach and the collective neighborhood of Surfside and Bal Harbour.

At 7 months, inventory is down 88.3% from its peak of 60 months in June 2020. On a quarter-over-quarter basis, inventory is down 41.7% from 12 months in March (Fig. 15). With inventory within the 9-12-month range of a balanced market, sellers are now in control of negotiations evidenced by the increase in prices seen above (Fig. 13).


Mid-Beach and North-Beach Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 15

Mid-Beach and North-Beach Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 15


A balanced market has only 9-12 months of inventory. The months of inventory are calculated as – no. of active listings + no. of pending listings divided by the average number of deals in the last 6 months.

Miami Beach Neighborhoods: Q2 2021 Surfside & Bal Harbour 

Q2 2021 Surfside & Bal Harbour Luxury Condo Quarterly Market Summary - Fig. 16

Quarters

Number of Sales

% change in Sales

Median Sale Price

% change in Median Sale Price

Median Sp/Sqft

% change in Median Sp/Sqft

Median of DOM

Q2-2021

75

525.0%

$2,675,000

10.5%

$1,184

37.6%

117

Q2-2020

12

$2,420,500

$860

125


Surfside & Bal Harbour: Luxury Condo Sales Up YoY to New Record-high

525% growth in year-over-year sales + positive trendline. In sync with the overall Miami market trend, this combined neighborhood reports its highest quarterly sales seen in more than 6 years -- topping out its Q1 2021 high. Setting a new record, the community-focused neighborhood posts an impressive 525% jump in year-over-year volumes.

Like the rest of Miami, half-year sales (127) in Surfside & Bal Harbour are already higher than the annual sales of 2020 (83), 2019 (84), or any other previous year under review (Fig. 17.1). In a nod to the phenomenal pace seen over the past three quarters, the 12-month Sales Trendline in Fig. 17.2 stayed positive from Q4 2020 through to Q2 2021.


Surfside & Bal Harbour Quarterly Sales 2015-2021 - Fig. 17.1

Surfside & Bal Harbour Quarterly Sales 2015-2021 - Fig. 17.1


Surfside & Bal Harbour 12-Month Sales with Trendline - Fig. 17.2

Surfside & Bal Harbour 12-Month Sales with Trendline - Fig. 17.2


Surfside & Bal Harbour: Higher YoY Price per Square Foot + Sales Price

Price per Square Foot up 37.6% to $1,184. Median Sales Price up 10.5% year-over-year. Keeping with the year-over-year price growth seen in overall Miami, Surfside and Bal Harbour reports an increase in both its price per square foot and median sales price.

The Price per Square Foot increased 37.6%, up from $860 in Q2 2020 to $1,184 for the same quarter this year. The Median Sales Price also increased 10.5%, up from $2,420,500 in Q2 2020 to $2,675,000 in Q2 this year (Fig. 16).

A look at the five-year snapshot of quarterly Price per Square Foot below (Fig. 18) reveals that prices closed in the higher ranges for this grouping. It is also worth noting that Surfside and Bal Harbour posted the second-highest percentage increase in year-over-year prices (right behind Sunny Isles Beach) -- showing impressive value for sellers in the area.


Surfside & Bal Harbour Quarterly Price per Sq. Ft. 2016-2021 - Fig. 18

Surfside & Bal Harbour Quarterly Price per Sq. Ft. 2016-2021 - Fig. 18


Surfside & Bal Harbour: Days on Market Down YoY

6.4% decrease in year-over-year Days on Market. Consistent with the overall Miami market trend of lower year-over-year days on market, luxury condos in Surfside & Bal Harbour spent 8 fewer days on the market compared to Q2 last year and 2 fewer days compared to Q1 this year (Fig. 19).


Surfside & Bal Harbour Quarterly Days on Market 2018-2021 – Fig. 19

Surfside & Bal Harbour Quarterly Days on Market 2018-2021 – Fig. 19


Surfside & Bal Harbour: Luxury Condo Inventory Down YoY to One of Lowest in Miami

Q2 2021 closes with 7 months of Inventory. In sync with the overall Miami market trend, luxury condo inventory in Surfside & Bal Harbour has dropped to a new low. Reporting the same months of inventory as South Beach and Mid-North Beach, this combined neighborhood posts the second-lowest inventory in all of Miami.

At 7 months, inventory is down 77.4% from 31 months in June 2020. On a quarter-over-quarter basis, inventory is down 53.3% from 15 months in March 2021 (Fig. 20). With inventory falling within the 9-12-month range of a balanced market, sellers have regained hold on the market from buyers, after a hiatus of over 6 years.


Surfside & Bal Harbour Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 20

Surfside & Bal Harbour Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 20


A balanced market has only 9-12 months of inventory. The months of inventory are calculated as – no. of active listings + no. of pending listings divided by the average number of deals in the last 6 months.

If you are interested in buying or selling a condo in any of these Miami Beach neighborhoods, or would like more information about the data in our reports, please email us anytime or call (786) 655 - 4576.


Miami Beach Neighborhoods: Q2 2021 Sunny Isles Beach

Q2 2021 Sunny Isles Beach Luxury Condo Quarterly Market Summary - Fig. 21

Quarters

Number of Sales

% change in Sales

Median Sale Price

% change in Median Sale Price

Median Sp/Sqft

% change in Median Sp/Sqft

Median of DOM

Q2-2021

161

794.4%

$1,920,000

40.9%

$822

38.5%

109

Q2-2020

18

$1,362,500

$593

108


Sunny Isles: Luxury Condo Sales Up YoY - 2nd-Highest Growth in Miami Beach

794.4% growth in year-over-year sales + positive trendline. In line with the overall Miami market trend, Sunny Isles Beach reported the highest quarterly sales seen in over 6 years – setting a brand-new record.

With a 794.4% jump in year-over-year volumes, half-year sales (266) in this branded-condo corridor are already greater than the annual sales of 2020 (162), 2019 (133), or any other year under review (Fig. 22.1).

Considering how sales have been increasing for 4 consecutive quarters in this beach town, the 12-month Sales Trendline in Fig. 22.2 expectedly remained positive from Q4 2020 through to Q2 2021.


Sunny Isles Beach Luxury Condo Quarterly Sales 2015-2021 - Fig. 22.1

Sunny Isles Beach Luxury Condo Quarterly Sales 2015-2021 - Fig. 22.1


Sunny Isles Beach Luxury Condo 12-Month Sales with Trendline - Fig. 22.2

Sunny Isles Beach Luxury Condo 12-Month Sales with Trendline - Fig. 22.2


Sunny Isles:
Price per Square Foot Peaks with Highest Percentage Increase in Miami Beach

Price per Square Foot up 38.5% to $822. Median Sales Price up 40.9% year-over-year. Consistent with the overall Miami market trend of higher year-over-year prices, Sunny Isles Beach reported an increase in both its price per square foot and median sales price.

The Price per Square Foot increased 38.5%, up from $593 in Q2 last year to a new high of $822 in Q2 2021. The Median Sales Price also increased 40.9%, up from $1,362,500 in Q2 2020 to $1,920,000 for the same quarter this year.

A look at the five-year snapshot of quarterly Price per Square Foot below (Fig. 23) reveals that prices closed at their highest in over 6 years of our reporting. It is also worth noting that luxury condos in Sunny Isles Beach Surfside offered the maximum value to sellers in Miami Beach by posting the highest percentage increase in year-over-year prices. For buyers, Sunny Isles Beach is one of the lowest priced coastal neighborhoods in the beaches, offering a good entry point.


Sunny Isles Beach Quarterly Price per Sq. Ft. 2016-2021 - Fig. 23

Sunny Isles Beach Quarterly Price per Sq. Ft. 2016-2021 - Fig. 23


Sunny Isles: Days on Market Flat YoY

Days on Market down quarter-over-quarter. Slightly deviating from the overall Miami market trend of lower year-over-year days on market, luxury condos in Sunny Isles Beach spent fewer days on market compared to the previous quarter, but almost the same number of days year-over-year.

Luxury condos in this seaside neighborhood spent 43 fewer days compared to Q1 this year, but just 1 more day compared to Q2 2020 (Fig. 24). This is a market positive, showing that buyers and sellers have been mostly on the same page in terms of pricing and other expectations. 


Sunny Isles Beach Quarterly Days on Market 2018-2021 – Fig. 24

Sunny Isles Beach Quarterly Days on Market 2018-2021 – Fig. 24


Sunny Isles: Inventory Down YoY - Continues as Highest in Miami Beach

Q2 2021 closes with 12 months of Inventory. Consistent with the overall Miami market trend, inventory in Sunny Isles dropped to a record-low. At 12 months, inventory is down to its lowest in over 6 years of our reporting, dropping 86.7% from its peak of 90 months in June 2020. It is also 37% lower than the previous quarter's closing of 19 months (Fig. 25).

Although Sunny Isles posted the highest levels of inventory in Miami Beach for Q2 2021, it has successfully transitioned into a seller's market as levels fall within the 9-12-month range of an ideal market.


Sunny Isles Beach Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 25

Sunny Isles Beach Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 25


A balanced market has only 9-12 months of inventory. The months of inventory are calculated as – no. of active listings + no. of pending listings divided by the average number of deals in the last 6 months.

Miami Beach Neighborhoods: Q2 2021 Fisher Island

Q2 2021 Fisher Island Luxury Condo Quarterly Market Summary - Fig. 26

Quarters

Number of Sales

% change in Sales

Median Sale Price

% change in Median Sale Price

Median Sp/Sqft

% change in Median Sp/Sqft

Median of DOM

Q2-2021

37

428.6%

$6,100,000

25.8%

$1,644

25.1%

119

Q2-2020

7

$4,850,000

$1,314

94


Fisher Island: Luxury Condo Sales Up YoY to New High

428.6% growth in year-over-year sales + positive trendline. Consistent with the overall Miami market trend, Fisher Island reports its highest quarterly sales seen in over 6 years of us reporting. With a 428.6% spike in year-over-year sales, half-year sales (59) in this exclusive island are already greater than the total yearly sales of 2020 (43), 2019 (36), or any other previous year under review (Fig. 27.1) – again in sync with the overall market trend.

Owing to phenomenal sales momentum carried over the past four quarters, the 12-month Sales Trendline in Fig. 27.2 stayed positive from Q4 2020 through to Q2 2021.


Fisher Island Luxury Condo Quarterly Sales 2015-2021 - Fig. 27.1

Fisher Island Luxury Condo Quarterly Sales 2015-2021 - Fig. 27.1


Fisher Island Luxury Condo 12-Month Sales with Trendline - Fig. 27.2

Fisher Island Luxury Condo 12-Month Sales with Trendline - Fig. 27.2


Fisher Island: Luxury Condo Prices Most Expensive in Miami, Up YoY  

Price per Square Foot up 25.1%, still most expensive at $1,644. Median Sales Price up 25.8% year-over-year. In line with the overall Miami market trend of higher year-over-year prices, Fisher Island reported an increase in both its price per square foot and sales price.

The Price per Square Foot increased 25.1% year-over-year, up from $1,314 in Q2 2020 to $1,644 for the same quarter this year. The Median Sales Price also increased 25.8%, up from $4,850,000 in Q2 last year to $6,100,000 this year (Fig. 26).

With these increases, this exclusive island holds on to its position as the most expensive neighborhood in all of Miami for a third consecutive quarter and reports the highest Median Sales Price of $6.1 million in all of Miami


Fisher Island Quarterly Price per Sq. Ft. 2016-2021 - Fig. 28

Fisher Island Quarterly Price per Sq. Ft. 2016-2021 - Fig. 28


Fisher Island: Days on Market Up YoY 

26.6% increase in year-over-year Days on Market. In contrast to the overall Miami market trend of lower year-over-year days on market, luxury condos on Fisher Island took 25 extra days to be sold compared to Q2 last year (Fig. 29). However, on a quarter-over-quarter basis, luxury condos spent 17 fewer extra days on market compared to Q1 2021.


Fisher Island Quarterly Days on Market 2018-2021 – Fig. 29

Fisher Island Quarterly Days on Market 2018-2021 – Fig. 29


Fisher Island: Inventory Down to Lowest in Miami

Q2 2021 closes with 5 months of Inventory. In line with the overall market trend in Miami, luxury condo inventory in Fisher Island dipped to the lowest of all Miami neighborhoods under review. At 5 months, inventory is also down to its lowest in over 6 years, dropping by 91.8% from its peak of 61 months in June 2020. Levels are also 54.5% lower than their previous quarter closing of 11 months (Fig. 30).

One of the first Miami Beach neighborhoods to enter a seller's market, inventory has been quickly absorbed by buyers over this past quarter, bringing it lower than the ideal 9-12-month range of a balanced market. This shows that sellers are in complete control of negotiations, with ample demand and higher prices working seamlessly in their favor.

Looking to sell your luxury home in Fisher Island? Call, chat, or email for a FREE market evaluation of your property to make the most of this seller's market.


Fisher Island Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 30

Fisher Island Months of Inventory from Mar. 2019 to Jun. 2021 - Fig. 30


A balanced market has only 9-12 months of inventory. The months of inventory are calculated as – no. of active listings + no. of pending listings divided by the average number of deals in the last 6 months.

Q2 2021 Miami Beach Luxury Condo Market Conclusion

Even though the second quarter of the year is usually the strongest, nobody could have predicted luxury condo sales to skyrocket as they have. Breaking all previous records for the highest quarterly sales, all Miami Beach neighborhoods have posted new highs in Q2 2021.

All sub-markets in this report posted incredible triple-digit year-over-year growth, and Mid-North Beach turned out to be the most popular neighborhood with its highest percentage increase in sale volumes. The sub-market also ranked 3rd for leading sales growth in the Q2 2021 overall Miami market report.

Owing to such phenomenal momentum, the 12-month Sales Trendline kept its positive angle across the board for a third quarter in a row – from Q4 2020 through to Q2 2021 – just like the overall market trend.

Prices were higher year-over-year across the board in Miami Beach, like the overall market trend in Miami. Fisher Island ruled the rankings once again, turning out to be the most expensive neighborhood with a price of $1,644/sq. ft. It also posted the highest median sales price out of all Miami neighborhoods under review at $6.1 million. On the other hand, Sunny Isles Beach continued to offer a nice entry point into luxury condos on the beach with the lowest price per square foot of $822 in all of the Miami Beaches.

In terms of value and price growth, Sunny Isles Beach led the way with the highest percentage growth (38.5%) in year-over-year Price per Sq. Ft., followed by Surfside and Bal Harbour (37.6%). Both neighborhoods offered great value to sellers.

In terms of Days on Market, Miami Beach still seems to be dealing with older listings making a comeback on the market, keeping numbers inconsistently high. Deviating from the overall Miami market trend of lower year-over-year days on market, luxury condos in South Beach and Fisher Island reported higher days spent on the market, while Sunny Isles Beach reported the same days as Q2 2020.

With such incredible momentum at play, inventory dropped across the board to an all-time low (in our 6 years of reporting), like the overall Miami report. Fisher Island reported the lowest levels of inventory at 5 months, while South Beach, Mid-North Beach, plus Surfside and Bal Harbour tied for the second-lowest levels with 7 months each.

Reporting the strongest second-quarter in over 6 years, Miami Beach is officially a seller's market. However, as real estate experts, we expect the market to take a cyclical break over the next half of the year. Still, we know that this year will close stronger-than-ever due to the following:

  • more businesses and buyers leaving high-tax states for our tax-friendly environment,
  • those with the flexibility to work from home or a hybrid arrangement choosing to live their dream with a condo closer to the ocean and year-round warmth,
  • ready availability of vaccinations and relaxed travel policies bringing in foreign buyers by the droves to their safe investment haven in the U.S., and
  • lower luxury condo deliveries in the immediate future keeping inventory levels in check, even when sales catch a break.



Metrics

Overall Miami

Miami Beach

South Beach

Mid-North Beach 

Surfside & Bal Harbour

Sunny Isles Beach

Fisher Island

Sales

Up

Up

Up

Up

Up

Up

Up

Trendline

Positive

Positive

Positive

Positive

Positive

Positive

Positive

Price per Sq. Ft

Up

Up

Up

Up

Up

Up

Up

Days on Market

Down

Flat

Up

Down

Down

Flat

Up

Inventory

Down

Down

Down

Down

Down

Down

Down


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Questions or comments with the stats? Interested in buying a Miami Beach condo in one of these neighborhoods? Please contact Sep at sniakan (at) hbroswell.com or call 305-725-0566.



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Miami Neighborhood Comparison: Key Biscayne vs Brickell

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Neighborhood Comparisons

Brickell

Key Biscayne

Miami Neighborhood Comparison: Key Biscayne vs Brickell

One of the key advantages of living in Miami is its wide variety of neighborhoods to choose from. From luxury towers overlooking secluded beaches to modern skyscrapers in the heart of the urban jungle, there’s a place for every need and desire. Two Miami neighborhoods that best exemplify both ends of this spectrum are Key Biscayne and Brickell. Not only do they differ in the housing options and price points they have available, but their particular dynamics also offer vastly different lifestyles, perks, and sceneries. And yet they are very close to each other. In this blog, we'll compare both locales in several categories so you can make an informed decision when choosing to buy or rent a property if you’re considering Key Biscayne vs Brickell.

Coconut Grove vs Brickell: Which Miami Neighborhood is Better?

Real Estate News

Neighborhood Comparisons

Brickell

Coconut Grove

Coconut Grove vs Brickell: Which Miami Neighborhood is Better?

Miami is a city of contrasts. On one hand, you have thriving urban centers bustling with life and energy 24/7, and on the other, you have village-like neighborhoods where time stretches and life rolls by without a care in the world. And often they are just mere miles away from each other. It’s one of the main reasons the area attracts such a wide variety of people! There is truly something for everyone here. Two of the areas that best embody this dichotomy are Brickell and Coconut Grove. Despite both being immensely popular and sitting right next to each other, their characters couldn’t be more different. Together, they represent one of Miami’s oldest neighborhoods and one of Miami’s newest and fastest-growing neighborhoods. And both are undergoing spectacular renaissances. So if you’re wondering which one of these two world-class destinations would be best to buy a property in or call home, you’re in luck because in this blog, we’ll compare both locales in several categories to help you make your best decision when choosing between Coconut Grove vs Brickell. ## The Lifestyle Established in 1825, Coconut Grove is one of Miami’s oldest and most beloved neighborhoods. Oozing with historic charm and lush tropical foliage, it's known for its quaint Caribbean flavor, bohemian vibe, verdant nature, and laid-back coastal lifestyle right on Biscayne Bay. Throughout history, Coconut Grove has attracted families, creative types, and sailing enthusiasts alike, looking for a relaxed daily rhythm, community and privacy in a more secluded setting but close to everything. Its small streets offer cool shade thanks to a canopy of tropical trees, including grand poincianas and banyans, while its unique inhabitants include exotic bird species such as peacocks – yes, peacocks! – and renegade parrots that have managed to escape the pet trade and found a home in the treetops. In contrast, Brickell is a growing and bustling metropolitan area, commonly dubbed the “Manhattan of the South.” It’s the largest financial center in the U.S. south of New York, and it’s characterized by high-rise luxury condos, luxury corporate offices, and vibrant dining, shopping, and nightlife. In all, Brickell’s fast-paced lifestyle is ideal for professionals, executives and world travelers who want to have walkable access to it all, including where they work. If you’d like to see for yourself how both of these neighborhoods compare to one another, check out our exclusive video on everything Coconut Grove vs. Brickell. ## Getting Around Both neighborhoods score high on walkability and transportation. Coconut Grove’s village feel makes it naturally walkable with many great parks, outdoor eateries and boutiques within a short distance. Bicycles are also a common form of transportation, and you can always take the free Coconut Grove Trolley to move within the neighborhood limits. ###### Miami Trolley To get to other areas of Miami, you would normally take your car, with the Grove connecting directly to main roads leading to Brickell (10-20 minutes), Coral Gables (15 minutes), US-1 and I-95\. Alternatively, there’s also the option to take the Metrorail, Metromover, and several bus lines. But as with most of Miami, you’ll want your car. ###### Miami Metromover Being a busier and denser area, Brickell takes walkability to another level with cafes, restaurants, convenience stores, banks, and offices on almost every block. It also has more transportation options, including the free Brickell trolley, the Metromover, which can take you to Wynwood, Coconut Grove, and Downtown Miami, bus lines, and the Metrorail. While you don’t need a car to live in Brickell, many residents do. And if you plan to drive, plan to expect heavy traffic during peak rush hours, plus congestion throughout most of the day – it comes with the territory of living in Miami's financial district. ## The Work-Life Flow While Coconut Grove is mostly a residential neighborhood, it includes a mix of professional services offices, important architecture firms, and other creative industry locales contributing to its vibrant, small and medium business environment. New boutique office buildings have been emerging alongside retail and dining, attracting tenants in tech, finance, real estate development and creative sectors. Also, thanks to its proximity to the University of Miami, the Grove attracts both students and faculty, giving the area a college-town feel, with a creative, intellectual vibe that mixes well with its charming eateries, wellness spots, and boutiques. Brickell, on the other hand, lives up to the image of a true modern metropolis. Gleaming high rises line the streets, while pedestrians wait to cross the streets to get to their next lunch meeting. It’s a buzzing international corporate mecca now evolving into Miami's tech hub, with startups, VC firms, and AI labs filling the office space available. While Coconut Grove is all about finding nirvana amid the natural splendor of the South Florida coast, when you compare Brickell vs Coconut Grove, you get a stark contrast. Brickell provides a tropical-chic urban setting where you can rub shoulders with some of the world’s most important players in the international corporate scene, all waterfront, while Coconut Grove offers you nature’s counterbalance. And this is why so many people who work in Brickell also choose to live in Coconut Grove. Brickell is winning you over? Discover top luxury Brickell condos for sale and rent. ## Outdoor Living & Waterfronts Coconut Grove cannot be beaten as far as access to nature goes, as the entire neighborhood is one lush tropical wonderland. Streets serve as walking trails, and there are expansive areas such as Kennedy Park and Peacock Park, where you can play volleyball or kickball, and your furry friends can run leash-free. With Biscayne Bay as its backdrop, the Grove is also a great place to play on the water and enjoy sailing, kayaking, or stand-up paddleboarding, with many marinas available, of which the most notable is the Dinner Key Marina – Miami’s largest! And the breathtaking and historic Vizcaya Museum and Gardens, with its spectacular gardens and natural mangrove forest and excellent cultural programming is a gem of Miami destinations that Coconut Grove gets to call home. Coconut Grove’s charm is working on you? Explore the Grove’s luxury condos for sale and rent. Despite its urban density, Brickell provides plenty of smaller outdoor options with green spaces as well, such as Brickell Park, Brickell Key Park, Alice C. Wainwright Park, and Miami Circle Park, where you can enjoy walking along shady trails, and pups can enjoy off-leash areas. And while the neighborhood is waterfront, it lacks beaches, marinas, or public boating facilities. For this, you’d have to drive 10 minutes to Coconut Grove. ## Arts & Culture Thirty years ago, Coconut Grove was Miami’s first art district before any other existed, and the area still celebrates the arts with a host of fairs and quirky cultural festivals such as: * the King Mango Strut * Goombay Festival * the Coconut Grove Arts Festival. The neighborhood is also home to many small art galleries and artists’ studios, as well as hosting Pinta Miami, a key Art Week highlight. Moreover, it has unique sites where culture, history, and nature converge, such as: * the aforementioned Vizcaya Museum and Gardens * The Kampong National Tropical Botanical Garden * Barnacle Historic State Park. While Brickell is best known for its lively happy hours, Michelin-rated Miami dining, and nightlife venues more than for cultural events, public art installations along the Baywalk and pop-ups during Miami Art Week contribute to its cultural flair. Also, you can easily get to the nearby Downtown Arts District and enjoy the many cultural offerings there, such as: * the Kaseya Center * the Adrienne Arsht Center * Ziff Opera House * the Pérez Art Museum Miami (PAMM). Both neighborhoods also have very good movie theaters. ## The Shopping Edit Coconut Grove offers a charming mix of indie boutiques and lifestyle shops along the streets of the neighborhood’s center, anchored by the CocoWalk, an open-air shopping hub with food and entertainment options that include clothing brands, restaurants, gift shops, bars, and a movie theater. For a luxury shopping experience, you can drive 10 minutes to the Shops at Merrick Park in neighboring Coral Gables, or head to Brickell. For groceries and daily essentials, residents rely on nearby premium markets like The Fresh Market, Milams, Aldi, or specialty spots on Grand Avenue (organic produce, artisanal goods), as well as the Coconut Grove Farmer’s Market. A 10-minute drive will also take you to the Trader Joe's in Coral Gables. In Brickell, you’ll have a huge array of shopping options along Brickell Avenue, with the crown jewel being the multi-storied, luxury shopping destination at Brickell City Centre. Here, you’ll find a Saks Fifth Avenue, as well as other noteworthy brands like Zara, Apple, Anthropologie, and contemporary favorites for fashion, beauty, jewelry, and home goods, plus entertainment like a cinema and a mini golf. For the day-to-day, there’s a Publix near Brickell City Centre, a Whole Foods just over the bridge in Downtown Miami, as well as multiple pharmacies and specialty spots for organic produce and artisanal goods. Plus you’re 10-minutes from Coconut Grove’s Fresh Market. See what we are getting at here? ## Signature Flavors Coconut Grove is home to some of Miami’s most delightful outdoor cafés, world-class restaurants, as well as sports bars and even old-school dives where you can get your bohemian groove on. The Grove’s dining options range from vegan to burgers and seafood options, street food, and international fare from all corners of the world. Some of the most notable options include: * Ariete is the Michelin-starred option experimenting with new American cuisine. * Bombay Darbar thrills with the flavors of India. * Sapore di Mare, a classic offering Italian fare with a nautical twist. * Chug’s Diner takes the diner concept to another level with Cuban flavors and its chic aesthetic. * Midorie is a simple-looking Japanese restaurant that lets the flavors speak for themselves. * Los Félix, another Michelin-starred restaurant that elevates the Mexican experience. * Lokal is a casual joint offering the good old American burger, but with locally sourced ingredients. * Bellini is perched atop the Mr. C hotel, offering great views and even better Italian food from the Cipriani family. * Le Bouchon du Grove is your French corner in Coconut Grove. Brickell's dining scene reflects its cosmopolitan energy. From Michelin-starred experiences to power lunch spots and late-night lounges, the neighborhood caters to professionals, foodies, and those seeking Miami's most elevated culinary moments. Some of the area’s best restaurants include: * Elcielo is a Michelin-starred restaurant where chef Juan Manuel Barrientos reimagines Colombian tradition through dramatic, sensory tasting menus. * Cipriani, credited with inventing both the carpaccio and the Bellini, brings the iconic Italian brand to Brickell with refined dishes, nautical elegance, and panoramic views of Biscayne Bay. * The River Oyster Bar is a beloved seafood bistro where locals have both their romantic and business rendezvous over some of the freshest oysters in town. * The Henry offers a wide range of foods, from avocado toasts to braised ribs, ideal for a large group or if you’re undecided on what to eat. * Claudie channels the sun-drenched charm of the Côte d'Azur with elevated Mediterranean dishes. * Dirty French brings bold prime-aged steaks, extravagant seafood towers, and a decadent martini lounge to a neon-glam, Paris-meets-Miami setting in Brickell. * Casa Tua Cucina is a high-end Italian eatery and market with ten individual food stations offering gourmet ingredients, a hundred labels of wine, and a soulful approach to gastronomy. * B Bistro + Bakery is where locals head to satiate their sweet tooth and comfort food cravings, serving croque madames, creative pastries, tuna avo toast, and pastelito pancakes. ## Schools: Coconut Grove vs Brickell ###### Ransom Everglades School Being a well-established residential neighborhood, Coconut Grove wins in terms of the best schools, and not just over Brickell. Coconut Grove is home to some of Miami’s finest private schools and public ones, too. These include the highly-ranked private Ransom Everglades School, as well as the parochial Carrollton School of the Sacred Heart with its beautiful Mediterranean-style campus. Other private schools in the area include Saint Hugh, Saint Stephen’s Episcopal, Coconut Grove Montessori, the Vanguard School, and LaSalle High School. Public schools include Coconut Grove Elementary, Frances S. Tucker Elementary, and George W. Carver Elementary and Middle Schools. Of course, Brickell also has several notable schools. Public schools that serve the Brickell area include Coral Way K–8 Center, Southside Elementary School, Ponce de Leon Middle School, and Miami Senior High School, as well as the Robert Morgan Vocational Tech Institute and the highly ranked MAST Academy, located in nearby Key Biscayne. Nearby private schools include Open Hearts Language Academy (OHLA), Key Point Academy, and Brickell International Academy. Our clients often reach out to us for the overview of the best private schools in Miami during their search for the new condo home, and you’ll find some excellent Coconut Grove and Brickell recommendations on our list. ## Architecture & Design The architecture in Coconut Grove is an eclectic blend of new high-rise condos, older boutique condos, Bahamian cottages and Old Florida bungalows, mid-century single-family homes, as well as opulent Bayside mansions nestled in gated communities, and even some historic structures. This variety is part of the Grove's appeal! For those who seek modern condo living, some of the most luxurious building options in Coconut Grove include: * The newly completed Vita at Grove Isle * Grove at Grand Bay * Grovenor House * Mr. C Bayshore & Tigertail Residences * Two Park Grove * One Park Grove And the up-and-coming Four Seasons Private Residences Coconut Grove, which is currently under construction with a 2028 completion date. We are extremely excited to see this boutique luxury Coconut Grove condo come to life, and detail its progress in our exclusive video. For new boutique offerings, Ziggurat is a rare find: an exclusive collection of only 19 luxury homes conceived to provide a private oasis within the Grove. Brickell on the other hand offers a completely different landscape. While South Brickell contains older low and mid-rise buildings plus a handful of mansions and Spanish-style homes from the Mary Brickell era, the bulk of the neighborhood consists of soaring skyscrapers—particularly new, modern high-rises packed with resort-like amenities. Watch our Guide to Living in Brickell video for a true local expert’s view. Some of the most luxurious existing buildings you’ll find in Brickell include: * Santa Maria * Jade Brickell * Brickell Flatiron * Echo Brickell * The Four Seasons Residences Brickell However, Brickell is quickly becoming the world’s destination for ultra-luxury condo living with more than two dozen new construction developments on the way, from supertalls to boutique offerings. In our expert opinion, some of the best Brickell pre construction include: * 888 Brickell by Dolce & Gabbana * The Residences at the Mandarin Oriental, Miami on Brickell Key * St. Regis Residences Miami (in South Brickell) * The Residences at 1428 Brickell * Cipriani Residences * Baccarat Residences * Mercedes-Benz Places * Nobu Residences Miami Watch our exclusive 888 Brickell video interview revealing all the amazing details. ## Prices & Perspective Coconut Grove has a wider range of single-family and duplex housing options, ranging from affordable to extremely affluent, with an emphasis on the higher end of the spectrum. Average listings range around $1,959,878 or about $938 per square foot, but listings can run as high as $22,500,000 or $4,080 per square foot. Brickell’s options lean more heavily toward condo units, which appeal to international investors, young urbanites, young families and C-suite executives seeking stunning Brickell penthouses. Average listings hover at about $484,915, or $357 per square foot, but can run as high as $33,000,000 or $7,119 per square foot. ## Which Neighborhood is Better? Coconut Grove or Brickell? This really depends on what type of person you are and the lifestyle that you seek, since these two neighborhoods are very different from one another, and each offers unique pros and cons. Whether you're debating living in Coconut Grove or Brickell, understanding what each neighborhood offers is key to making the right choice. If you’re more of a nature lover, seeking spacious, family-friendly housing in an exclusive tropical village setting with plenty of access to nature, and close to everything including top schools, Coconut Grove is sure to steal your heart. But if you thrive in an urban core, love being walking distance from work, or are an executive who can’t resist the fast-paced energy of the city, you’ll probably feel more at home at Brickell. If you’re interested in seeing how other neighborhoods compare to one another, for example, Coconut Grove vs Coral Gables or other locations, explore the rest of our Miami Neighborhood Comparisons. Whatever your decision, we’ll be happy to share our 20+ years of experience in Miami’s luxury condo market, as well as our homegrown insights into the advantages of each location. Just give us a call or email, and let us help you sort through the many available listings in Coconut Grove vs Brickell, to help you pick the perfect location for you.

December 2025: Fort Lauderdale and Palm Beach Pre-Construction Condo News Update

Preconstruction

December 2025: Fort Lauderdale and Palm Beach Pre-Construction Condo News Update

South Florida’s pre-construction market finished the year strong, with developers advancing luxury condo developments across the pipeline—from announcing new projects to nailing construction milestones. Palm Beach’s new construction market is definitely heating up as well. This December, Lionbright Development launched sales for the highly exclusive 123 Ocean in Palm Beach Shores. Related Ross’ Shorecrest secured approval for its scaled-back waterfront vision. Olara in West Palm Beach began rising vertically. And, new proposals came to light, carrying momentum into the new year. Read on to find out which Fort Lauderdale project resubmitted plans to add a hotel component, along with other updates in our December 2025 pre-construction condo market news round-up for Fort Lauderdale and Palm Beach. --- ## — December 2025 – Fort Lauderdale & Palm Beach Condo Pre-Construction Market at a Glance ### Sales Launched * 123 Ocean – Palm Beach Shores ### Approved * Shorecrest – West Palm Beach ### Planned/Proposed * Sereno Fort Lauderdale – Fort Lauderdale * Condos at Pomp by Lennar-Affiliate – Pompano Beach * One on One Harbor Beach (also Harbor Drive Residences) – Fort Lauderdale ### Construction Updates * Olara – West Palm Beach ### Other Updates * Sage Intracoastal Residences – Fort Lauderdale ### Watchlist * One Boca by Terra & Frisbie Group – Boca Raton * Kadima Developers Acquires Casino-Adjacent Lot – Hallandale Beach --- ## — Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Sales Launched ### 123 Ocean – Palm Beach Shores **Groundbreaking: 2026 | Completion: Late 2027** Lionbright Development launched sales for the boutique 123 Ocean in December. Designed by Arquitectonica, the six-story building will rise with only 27 luxury residences. Perched at 123 Ocean Avenue, you will be next door to the Palm Beach Shores Community Center and enjoy direct beach access via private walkways. Each home will feature refined interiors by Asthetique, layered with vintage-inspired textures that reflect Palm Beach’s unique character. Expect direct elevator entry, a choice of two distinctive chef’s kitchen designs, Bosch appliances, white oak and soft brass accents, expansive balconies, and cinematic ocean views at every turn. Units will range from 1,581 to 3,100 square feet. Highlight amenities include a pool and sun deck, a wellness suite with ice bath and infrared sauna, a fitness studio, a residents’ lounge, a media room, a children’s play space, and landscape architecture by Naturalficial. _Prices start at $1.7 million, with a choice of one- to three-bedroom residences. Reach out to secure your residence early in this intimate building, offering a villa-in-the-sky sensibility in one of Palm Beach Shores’ premier beachfront neighborhoods._ ## — Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Approved ### Shorecrest – West Palm Beach **Groundbreaking: Early 2026 | Completion: Summer 2028** With approval from the West Palm Beach Planning Board, Related Ross can now move forward with plans for its 306-foot waterfront condo at 1901 North Flagler Drive. The project has been approved with a lower density than its previously proposed 199 units. The 2-acre site is currently home to Temple Israel, which will be relocated and its structure demolished to make way for the new development. Designed by Connecticut-based Roger Ferris + Partners, the 27-story Shorecrest will rise with a distinct curvilinear form, accentuated by a reflective glass facade. Units will feature larger-than-average layouts, with most showcasing stunning views of the Intracoastal Waterway. All 100 residences will feature interiors by New York’s Rottet Studio, complete with custom White Oak European millwork, freestanding soaking tubs in the primary baths, white oak wood-plank flooring, and a home automation system. Highlight amenities at the Shorecrest West Palm Beach will include a rooftop deck featuring a 75-foot pool and lounge areas, spa facilities, a fitness center, a cocktail lounge, a private dining room, a game lounge, a golf simulator, and a coworking lounge. The LEED Gold-compliant tower will also feature a five-story podium with 204 parking spaces, offering more than two spots per unit. _Prices started at $1 million, with a choice of two- and three-bedroom residences._ ## — Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Planned/Proposed ### Sereno Fort Lauderdale – Fort Lauderdale **Groundbreaking: N/A | Completion: 2028** Developer partners Integra Investments and Flying Point submitted revised plans to the city’s Development Review Committee for Sereno Fort Lauderdale in December. Under the updated proposal, the duo seeks to increase the number of condo units from 76 to 88, along with the addition of 113 hotel rooms. The project will also feature 1,800 square feet of commercial space and 200 parking spaces. Designed by FSMY Architects + Planners, the condo-hotel will rise 14 stories with a separate four-story parking structure. Interiors will be led by UK-based 1508 London. Each home will feature Italian kitchens outfitted with branded appliances and glass balconies affording panoramic views of the ocean, intracoastal, Hugh Taylor Birch State Park, and the Bonnet House Museum & Gardens. Two rooftop amenity decks anchor the project, providing separate spaces for residents and hotel guests to unwind. Units will range from 372 to 1,252 square feet, with dedicated entrances for the condo and hotel portions. Launch prices started at $1.4 million, with a choice of studios to three-bedroom residences. Call, chat, or email us for updated prices and floor plans and secure your spot early in this exceptional condo-hotel. ### Condos at Pomp by Lennar-Affiliate – Pompano Beach Acting via an affiliate land bank, Lennar Corp. acquired 20 acres around 777 Isle of Capri Circle for $50 million this December. The development site is part of The Pomp mixed-use project, where Harrah’s Pompano Beach Casino is already open. As per plans filed back in 2024, Lennar proposed building 344 condos and 82 townhomes on the site. The complex will be home to buildings no taller than seven stories and feature a clubhouse with a fitness center and at least one pool. ### One on One Harbor Beach (also Harbor Drive Residences) – Fort Lauderdale In late December, Camaco Development submitted plans for a 240-foot, 21-story residential tower to the city’s Planning and Zoning Board in December. The project requires special city approval to exceed the 120-foot limit. The building name is not clear yet, with both Harbor Drive Residences and One on One Harbor Beach found in project documentation. It is slated for a January 21 review before the planning and zoning board. Designed by Adache Group Architects and Kora, the waterfront tower is expected to rise with only 36 luxury residences, including two 9,000 square feet penthouses, a five-story parking podium, and a sprawling amenity deck on the seventh floor. Units will feature larger-than-average layouts and start from the fifth floor. Amenities will likely include a pool, a private pool bar, a gym, a game room, and a wellness center. Located at 3049 and 3043 Harbor Drive, the 0.8-acre site sits south of the upcoming St. Regis Bahia Mar & Yachting Center and north of the Harbourage Place condominium. It is also a 5-minute drive from Las Olas Beach, a 10-minute drive from the popular Las Olas Boulevard, and a 15-minute drive from the Fort Lauderdale-Hollywood International Airport. ## — Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Construction Updates ### Olara – West Palm Beach **Groundbreaking: August 2024 | Completion: 2028** New York-based developer Savanna has started vertical construction on its transformative project in West Palm Beach. Work is underway on its 100,000-square-foot podium. Olara is poised to revitalize the North Flagler waterfront with standalone home-like units and 80,000 square feet of exceptional amenities. Its centerpiece private dock is unlike any other in the area, featuring three for-purchase boat slips, a pair of house yachts, and a dedicated seafaring concierge. Designed by Miami-based Arquitectonica, Olara will rise 26 stories with 287 luxury residences. The timeless tower will be part of a 4-acre residential oasis, flaunting aerodynamic curves with glass terraces reflecting the water below. Interiors will be handled by the world-renowned Gabellini Sheppard Associates. The oversized floor plans range from 1,500 square feet to 4,200 square feet. Fronting the Intracoastal Waterway in West Palm Beach, the high-rise will also carry about 1,570 square feet of commercial space and 30,000 square feet of epicurean marketplace space, including an 8,500-square-foot restaurant space helmed by the Michelin-starred Chef José Andrés. You will also benefit from an exclusive partnership with Sollis Health, affording access to the best healthcare concierge professionals. More wellness-focused amenities include an Olympic-size lap pool, a leisure pool with full-service cabanas, a spa with a five-star recovery zone and Japanese-style Onsen, plus 13,000 square feet of indoor and outdoor workout spaces designed by The Wright Fit, inclusive of a yoga and Pilates studio. There will also be a game room, a multimedia lounge, a co-working lounge, a library, and lush landscaping by EDSA. _Prices start at $1.7 million, with a choice of two- to four-bedroom-plus-den residences._ ## — Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Other Updates ### Sage Intracoastal Residences – Fort Lauderdale **Groundbreaking: November 2025 | Completion: Q3 2027** A month after breaking ground, Property Markets Group (PMG) secured a $115 million construction loan for their 25% pre-sold development located next door to the Galleria Mall at 900 Intracoastal Drive. All east-facing condos in this boutique building will offer unobstructed water and ocean views that are permanently protected by the Bonnet House Museum & Gardens and beach situated across the Intracoastal. Designed by Fort Lauderdale-based FSMY Architects, the boutique Sage Intracoastal will rise 28 stories with only 44 residences. No more than two units per floor, interiors by San Francisco-based BAMO, and 270-degree views combine to create a standout boutique living experience. Units will range from 2,767 to 3,400 square feet. With approximately 19,000 square feet of indoor and outdoor amenities, you can look forward to a resort-style pool and lounge, a cafe, a water-view bar and lounge room, a fitness center, a dedicated yoga lawn, a golf simulator, and a Sage Wellness Spa with steam, sauna, cold plunge pool and treatment rooms. Pet lovers will appreciate the dog run and dog walking services. PMG is also in talks to add four boat slips to the property. _Prices start in the high $2 millions, with a choice of two- to four-bedroom residences. Contact us to schedule a private presentation and explore remaining opportunities at this boutique waterfront residence featuring expansive floor plans._ ## — Fort Lauderdale & Palm Beach Condo Pre-Construction Market: Watchlist ### One Boca by Terra & Frisbie Group – Boca Raton Approved by the Boca Raton Planning and Zoning Board, Terra and Frisbie Group can now proceed for a first reading on their proposed 99-year lease of city-owned land, which would enable the development of One Boca. Board members supported the lease, citing the need to encourage development around the Brightline station and noting that downtown redevelopment is long overdue. The large-scale project would feature 765 apartments (77 of which will be workforce), 180 hotel rooms, a 30,000-square-foot grocery store, 120,000 square feet of office space, and 2,100 parking spots across 7.8 acres of city land, including at 101 Northwest Boca Raton Boulevard. If approved, the transit-oriented One Boca would also be home to another mixed-use project featuring 182 condo units at 141 Northwest Fourth Street, a privately owned parcel. The developers are currently under contract to acquire the site. If council members approve the first reading, the lease agreement will be presented to voters for final ratification in March. As per earlier reports, the developers have also proposed a community benefits package, including a reimagined version of Memorial Park, a new city hall and community center, a World War II memorial, a new tennis center with up to 10 clay courts, a playground with banyan trees, and a new children’s museum. ### Kadima Developers Acquires Casino-Adjacent Lot – Hallandale Beach Hot on the heels of breaking ground on Seven Park in Hallandale Beach, Miami-based Kadima Developers made headlines again with the purchase of a 12.2-acre vacant lot next door to the Big Easy Casino. The parcel sits just 10 minutes from the beach, five minutes from the under development, and within walking distance of the neighborhood’s top restaurants. Billionaire Jeffrey Soffer sold the site at 831 North Federal Highway, not including the casino, for $31.1 million. Kadima plans on developing the parcel into a master-planned community, featuring a mix of condos, apartments, retail, entertainment, and warehouse space. For now, the developer flipped about 3 acres of the site for $12 million to an affiliate of Persea Ventures, a Fintech investment firm, while retaining the role of project manager for the sold portion. --- If you love staying on top of pre-construction news and trends in Fort Lauderdale and Palm Beach, subscribe to this blog or our YouTube channel for monthly updates! If you are interested in pursuing a Fort Lauderdale or Palm Beach preconstruction condo, please reach out to us directly to be connected with one of our South Florida preconstruction expert agents.

Top Things to Do in Miami in January 2026

Lifestyle

Top Things to Do in Miami in January 2026

January is all about fresh starts, renewed energy, and pressing the reset button on your mood. And our selection of top Miami events in January 2026 does just that. We’ve got feel-good philanthropic galas, soul-stirring orchestral moments honoring Miami’s Art Deco history, spiritually rich pieces at PAMM, marathon milestones to knock out, and laugh-out-loud nights at the Hard Rock. There’s something for every taste to help you move into the year at your own pace. --- ### Begin the Year by Giving Back: Charity Events and Galas **January 10th, 22nd, and 24th | Multiple Venues** Ring in the New Year with purpose and the simple joy of sharing by supporting one, or more, of these meaningful Miami events in January: #### Be A Voice Gala 2026, January 10 Join the “Voices” championing youth in the foster care system at this elegant black-tie evening and help them open doors to a brighter tomorrow. You get to wine, dine, dance, and bid on exclusive auction items with fellow changemakers at The Ritz-Carlton Key Biscayne, as this year’s theme “Bloom Where You Are Planted” celebrates resilience, hope, and growth. #### YoungArts Miami Gala 2026, January 10 Sponsored by Oscar de la Renta, this evening affair makes a fitting conclusion to National YoungArts Week while supporting rising talents in their pursuit of creative freedom. This year, the five days of multidisciplinary live performances wrap up at the Rubell Museum with a fundraiser and an inspiring awards night. #### Annual Splendor in the Garden, January 22 Get your front-row tickets to an outdoor runway show by Neiman Marcus Coral Gables, and help nurture the next generation of conservationists. Set against the lush backdrop of the Fairchild Botanic Garden, proceeds from this stylish afternoon fund vital school science and education programs, while keeping you on top of trends. #### The Underline Sneaker Ball 2026, January 24 It’s the launch of a signature sneaker, culinary fest, and fundraiser rolled into one! You’ll arrive for the silent auction and a chance to support Friends of The Underline, but end up staying for the eye-popping entertainment and palpable energy. #### The Royal Ball of Prince Orlovsky, January 24 This roaring 20s masquerade offers the rare opportunity to step into an immersive world crafted by the Florida Grand Opera (FGO). Marking the opening night of “Die Fledermaus” at the Adrienne Arsht Center, this one-of-a-kind evening will have you enjoying a champagne tower, a royal ball, dinner on stage, Prince Orlofsky’s legendary hospitality, and the Elevare award ceremony, followed by after-hours entertainment, all while you help fund FGO’s vision for the future of opera. ### Woody De Othello: coming forth by day at PAMM #### **January 1st - June 28th |** 1103 Biscayne Boulevard, Perez Art Museum Miami, Downtown Miami ###### Woody De Othello. Installation: Untitled Works, 2025\. Courtesy the artist, Jessica Silverman and Karma. Photo: Phillip Maisel You have to experience it to fully absorb the nuanced spirituality and ritualistic gravity of Woody De Othello’s immersive installation, widely appreciated during Art Basel 2025. His first museum solo in Miami, “coming forth by day” is heavily inspired by the “Egyptian Book of the Dead: The Book of Coming Forth by Day” (2000) and Othello’s interpretation of written works by Afrocentric scholars. This deeply personal and materially rich exhibit features a series of ceramic and wood sculptures, a large-scale bronze, tiled wall works, clay-painted walls, and subtle use of herbal scents. It will stay on display through to June 28th. ### South Beach Jazz Festival #### **January 8th-11th |** Multiple Venues Across Miami Beach With the theme “From Disability to Serendipity,” this Miami Beach tradition brings together jazz musicians of all abilities and statures to fill your weekend with smooth vocals and timeless melodies. It’s easily one of the top Miami events in January 2026, so come and experience the rich legacy of jazz in Miami, as this annual celebration unfolds across free outdoor concerts and club shows. This year’s lineup includes Federico Britos Jazz Quintet, John Pizzarelli, The Harden Project, Spam AllStars, the Spanish Harlem Orchestra with special guest Etienne Charles, Ricky Ricardi, and Lemon City Trio, among other classic to contemporary artists. ### Art Deco Weekend #### **January 9th-11th |** Along Ocean Drive & Lummus Park, South Beach In its 49th year, Art Deco Weekend goes far beyond postcard views, bringing you themed architecture walking tours around South Beach’s most iconic buildings, including the fan-favorite “Crimes and Scandals” tour that gives you all the secrets you’ve always wanted to know about the city’s infamous past. Set along Ocean Drive, this magical weekend feels like a leaf right out of history and gives you an insider’s view of Miami Beach’s timeless glamour and design heritage, while spotlighting the Miami Design Preservation League’s efforts to protect it for future generations. They also have live jazz performances and dance lessons to round out the festivities Miami style. ### Short FILM FESTIVAL: Best of Fest 2025 + Here We Gather: All We Need, We Already Have Exhibit #### **January 11th + January 25th - March 22nd |** 16701 SW 72nd Avenue, Deering Estate, Palmetto Bay Rounding up and scoring all the cinematic gems released over the past year, the MIAMI short FILM FESTIVAL (MIAMIsFF) will be hosting a special evening show on the 11th. After a brief cocktail reception, you’ll be treated to a screening of the winners in the categories of Best Comedy, Best Animation, Best Documentary, and the prestigious Jury Award. Later, on the 25th, “Here We Gather…All We Need, We Already Have” will debut with a free opening reception. True to its name, the exhibit will showcase works made of materials found at the Deering Estate and curated by Dainy Tapia. Featuring works by Rebecca White, David Valiente, Karla Kantorovich, Jessica (Yessica) Gispert, and Maria Theresa Barbist, among other artists, this two-month-long display will highlight the ephemerality of natural materials, allowing them to shift and weather over time, lending the exhibit great repeat value. ### Outdoor Science Lab for Families at the Vizcaya #### **January 15th | 3251 South Miami Avenue, Vizcaya Museum & Gardens, Coconut Grove** The Vizcaya turns into your personal outdoor lab for the night with this after-hours family experience. Guided by local scientists and educators, kids aged 6-12 are invited to explore the fascinating wildlife that crawls out after sunset at these historic grounds. Each child will receive a flashlight at check-in to assist their study, followed by a story circle hosted by the Miami-Dade Public Library plus science-based art and craft activities to round out this immersive learning program. ### Life Time Miami Marathon & Half Marathon #### **January 24th-25th | Course Spans Downtown Miami, South Beach, and Coconut Grove** Miami’s favorite year-opening race is back to challenge 18,500 athletes from more than 80 countries. Choose between a marathon, half marathon, and 5K to test your limits and catch the best of the city en route, from the shimmering bay views of Downtown to the Art Deco landmarks of South Beach, and palm-lined avenues of Coconut Grove. There’s also a Kids Run that will have elementary to middle-school runners competing for top honors and a medal for each at the finish line, if they can conquer the 26.2-mile route. ### Jerry Seinfeld, Stavros Halkias, Penn & Teller, and More Comedy Gold at the Hard Rock #### **January 16th, 17th, 23rd, 24th & 31st |** 1 Seminole Way, Seminole Hard Rock Hotel & Casino, Hollywood Kickstart your year with hearty laughs courtesy of Hard Rock Hotel’s label-defying lineup: #### Stavros Halkias, Jan. 16: If you’ve seen this “Fat Rascal” star on Netflix or tuned into one of his podcasts, then you know you’re in for an evening of belly laughs. He’s bringing “The Dreamboat Tour” to town, and you’re invited to experience his unfiltered self, up close and personal. #### Miami Comedy Festival, Jan. 17 Catch the likes of Earthquake, Special K, and Sommore for a night of nonstop laughs that will echo well beyond the curtain call. #### Jerry Seinfeld, Jan. 23-24 With one of the most successful comedy series of all time to his name, this Emmy and Golden Globe winner needs no introduction. Reserve your seat to dive into the kind of shenanigans he’s been up to lately. #### Penn & Teller 50th Anniversary Tour, Jan. 31 From busking to sold-out Broadway shows, this chaotic duo has come a long way. You won’t want to miss these acclaimed comedic magicians in action, as they bring the antics that made them one of Las Vegas’s most beloved resident headliners to town. ### Ailey II, Rhapsody in Blue, Bronfman Plays Beethoven, and More Performances at the Arsht Center #### **January 8th-31st (check specific event dates) |** 1300 Biscayne Boulevard, Adrienne Arsht Center, Arts and Entertainment District Here are our top picks for performances at the Adrienne Arsht Center this January: #### The Inheritance (Part 1), Jan. 8th-25th Watch the Florida premiere of this two-part contemporary epic that explores the meaning of love, loss, and legacy within the LGBTQ community. It has been praised for being deeply emotional and unexpectedly humorous, intimate and strong. #### Ailey II, Jan. 9th This dance production by Alvin Ailey American Dance Theater’s second company shines a spotlight on its next generation of performers. South Florida native Jordyn White, known for her powerful stage presence, leads the contemporary program with a full ensemble under the direction of Francesca Harper. #### Rhapsody in Blue, Jan. 10th Marcus Roberts’ Trio delivers a fresh take on George Gershwin's masterpiece, in collaboration with the New World Symphony, at this evening program. A fusion of jazz and classical elements, Roberts’ skillful improvisation meets its harmonious match under the technical clarity of conductor Andrew Grams for an electrifying performance. #### Verdi's Requiem, Jan. 23rd-24th If emotionally charged classical works speak to you, then you won’t want to miss this musical production by The Cleveland Orchestra. Led by the acclaimed baton of Franz Welser-Möst, this dramatic presentation moves from grief to hope, backed by powerful percussion and an exceptional quartet including tenor Joshua Guerrero and soprano Asmik Grigorian. **The Royal Philharmonic Orchestra, Jan. 26th** Another powerful piece of Arsht’s 2025–26 Classical Music Series, this program features Vasily Petrenko leading the Royal Philharmonic Orchestra in two meaningful symphonies on its 80th-anniversary tour. We recommend arriving early to catch the pre-show discussion, scheduled an hour before the show. #### Itzhak Perlman’s Cinema Serenade, Jan. 28th Legendary violinist Itzhak Perlman partners with The Cleveland Orchestra to serenade you with the silver screen’s most stirring melodies. Gear up for an intense evening as the lineup includes “Schindler's List’s” hauntingly beautiful score and the evocative love theme from “Cinema Paradiso.” #### Mikailo Kasha, Jan. 30th Ranked among the top 1% of bassists worldwide, Miami’s own Mikailo Kasha will be taking center stage at the Arsht Center’s outdoor plaza. Expect to tune into the award-winning composer’s original works, as he leads his modern jazz quartet for an unforgettable concert experience under the stars. #### Bronfman Plays Beethoven, Jan. 30th-31st Another can’t-miss concert for classical music fans, this program pairs Beethoven's Piano Concerto No. 5 with Mozart's Symphony No. 41 to deliver a rare masterpiece. With Grammy Award-winning pianist Yefim Bronfman at the keyboard, you’re in for a spectacle worth remembering. --- Take this guide as an invitation to start the year connecting with others and enjoying cultural expressions that will remind you why Miami is the place to be in 2026\. From supporting meaningful causes and exploring cultural depth to riding an emotional wave of music or laughing the night away, there’s a wide range of Miami events in January to keep you energized. And as always, we’d love to hear what made it onto your calendar, so be sure to drop us a comment on our socials. Follow @blackbookproperties on Instagram to join the fun as we bring you highlights from Miami’s hottest annual events. Alternatively, call, text, or email us to become a part of our vibrant community and experience these events with a Miami address of your own.

Video: Tour this $5M, 4-Bedroom + Den, Bayfront Duplex in Edgewater’s Missoni Baia

Lifestyle

Real Estate News

Video: Tour this $5M, 4-Bedroom + Den, Bayfront Duplex in Edgewater’s Missoni Baia

Love the privacy and space of a standalone home but desire the conveniences and security of a luxury waterfront Miami condo? Then this 4,400-square-foot, 4-bedroom, 6.5-bathroom duplex with staff quarters delivers the best of both worlds, complete with uninterrupted water views, in one of Miami’s newest fashion-branded condo towers, Missoni Baia. In our latest Missoni Baia video, Sep Niakan, Miami’s leading luxury real estate expert and founding broker of Blackbook Properties and condoblackbook.com, joins Katia Bon, our go-to expert for hidden gems in Miami’s urban core and in-house master baker and cookie master, for a closer look at life inside this ultra-rare, two-story, Missoni Baia townhouse offering more than 4,000 square feet of pure luxury. ### A Bayfront, Entertainer’s Paradise One of only two duplexes in the 57-story Missoni Baia tower, this limited-edition southeast corner home offers grand proportions and expansive water views—a combination rarely found in Edgewater neighborhood. Built to adapt to your lifestyle, this 4,400-square-foot residence features four bedrooms, an open den or study, 6.5 bathrooms as well as staff quarters (behind the kitchen) that can easily be converted into a walk-in pantry, game room, or additional room. ### The Chef’s Kitchen Love cooking or prefer having someone else prepare meals in this Missoni Baia condo? Your chef-ready kitchen comes pre-loaded with Wolf and Sub-Zero appliances, cabinetry from Italkraft, and a built-in wine cooler—all handpicked to afford both everyday convenience and entertainment-ready functionality. Plus a bonus room off the kitchen with a full ensuite bathroom doubles as a massive walk-in pantry or ample staff quarters. Add direct water views from the kitchen and an expansive stone island to the mix, and even your routine coffee becomes a ritual worth sharing. ### Impressive Living Room Area The double-height living room is the absolute centerpiece of this Missoni Baia condo for sale. With floor-to-glass windows spanning the entirety of the 4th and 5th floors, overlooking your balcony that runs the entire width of the residence, you have access to uninterrupted bay views and extended hours of natural light. True to its “entertainer’s paradise” reputation, this space further lends itself as easily to sunlit afternoon get-togethers as it does to elaborate evenings set against the romantic glimmer of the bay. ### Primary Bedroom with Master View Just up the stairs, your open den is perfectly positioned to inspire, complete with sweeping water and sky views. Tucked further inside, the primary bedroom in this Missoni Baia duplex offers its own share of views, a spacious walk-in closet, and a spa-like bathroom complete with freestanding soaking tub, his dual toilet closets, dual sinks, and a double, walk-in shower with dual rain showerheads, creating a sanctuary of calm you’ll love returning home to. ### The Missoni Baia Miami Experience Set against 200 feet of bay frontage, this minimalist glass tower comes alive with Paris Forino Design’s interpretation of Missoni’s iconic color palette for the interiors. Amongst the tower’s two floors of resort amenities, the Olympic-length lap pool, tennis courts, 1,700 square-foot gym with 180-degree views, full-service residents-only spa, and children’s splash pad stand out as favorites for those who value a wellness-focused lifestyle. You further enjoy access to a separate infinity-edge pool overlooking the bay, multiple lounges, a resident’s game room, a kids’ club, a hair and nail salon, a pet spa, and a bayfront boardwalk that takes you all the way to Downtown Miami. ### Missoni’s Edgewater Location: Central to Everything in Miami Within the neighborhood, you have the 8-acre, family-friendly Margaret Pace Park for everything—from fitness training to dog runs and family picnics. Further, Edgewater’s collection of restaurants is second to none; you have everything from waterfront fine dining to cafes and healthy bites close home. As mentioned above, a leisurely walk takes you right into the heart of Miami’s urban core to experience the best of art, culture, sporting events, and fine dining in Downtown. Miami’s Design District—known for its selection of couture shops, flagship stores, top-rated restaurants, and public art installations—is just a 10-minute drive from home. South Beach and its iconic nightlife sit right across the scenic Venetian Causeway, about 20 minutes by car. You are also just 20 minutes from the international airport. This Missoni Baia condo for sale is listed at just under $5 million—contact us directly if this waterfront lifestyle in one of Miami’s most desirable family-friendly neighborhoods speaks to you. We’ll gladly schedule a private viewing, so you can experience the views, scale, and finishes firsthand.

The Best Miami Neighborhoods: South of Fifth vs Fisher Island

Neighborhood Comparisons

South of Fifth

Fisher Island

The Best Miami Neighborhoods: South of Fifth vs Fisher Island

If you’re considering moving to Miami, and you’re looking for an exclusive, beachfront, luxury neighborhood, two options you’ll likely hear suggested are South of Fifth (SoFi) in South Beach, or the ultra-exclusive Fisher Island. These two areas share some geographic and lifestyle similarities—both are incredibly beautiful neighborhoods that are home to affluent and high net worth (HNW) residents seeking a relaxed but sophisticated waterfront lifestyle with large condo home options—but they also have essential differences that make for very different living experiences. In this blog, we’ll dive deeper into both neighborhoods and their buildings, comparing what makes them stand out in several categories, and why residents choose them. This way, you’ll be well-informed to make a confident decision as to where to start your property search or tell your luxury agent when choosing between South of Fifth vs Fisher Island. ## The Lifestyle South of Fifth or “SoFi,” as it is known locally, is the area of South Beach located south of Fifth Street. It’s the southernmost tip of the island of Miami Beach and offers a lovely, upscale lifestyle and more luxurious properties than the rest of South Beach or Miami Beach for that matter. Most of its desirability comes from being a highly walkable neighborhood surrounded by water while keeping a more serene vibe than the more tourist-friendly lifestyle that the rest of South Beach is known for. ###### SoFi or South of Fifth - Miami Beach, FL Now, although SoFi is an exclusive area by virtue of home prices, Fisher Island is far more exclusive than SoFi because it is its own island accessible only by boat, helicopter, or ferry. In fact, Fisher Island is the most affluent zip code in the entire United States, with median household incomes in the millions. It is also characterized by being a small community. The island is under one square mile in size, and has a population of about 600 people, many of whom use their homes only part of the year as vacation or second homes—a key differentiator when comparing South of Fifth vs Fisher Island lifestyles. ###### Fisher Island. This dynamic results in great privacy for its residents, making Fisher Island a popular choice among VIPs, with celebrities like Oprah, Julia Roberts, Karolina Kurkova, Boris Becker and Caroline Wozniacki having called it home at some point. ## Getting Around SoFi is a highly walkable neighborhood, with everything you need within a short distance from every residence, making car-free living a reality. Also, since it’s part of South Beach, it benefits from having multiple transportation options available, including Miami Beach’s free trolley service, Miami Dade buses—including the Miami Beach Airport Express—, and Citi Bike. If you’re a car owner, moving around is also a breeze, with the MacArthur Causeway being your main way in and out of Miami Beach. To move around the neighborhood, you might take Alton Road on the west side, or the iconic Collins Ave, which runs northbound all the way up through the island. ###### Fisher Island Ferry. Photo courtesy of Fisher Island Club. Fisher Island, on the other hand, is so small that the most popular methods of transportation within the island are golf carts, bicycles, or your plain old feet. The island is completely private—only residents and their guests are allowed in—and accessible only by ferry, helicopter, or boat. To get to and from Fisher Island, most residents drive their cars to Terminal Island and board the ferry, which departs every 10 minutes on weekdays during morning rush hour and every 15 minutes all other times, 24 hours a day. Others access the island via private yachts. ## The Work-Life Flow Because they are primarily residential neighborhoods, neither SoFi nor Fisher Island is an area where you’ll find a lot of commercial business activity, making each retain a distinctly residential feel. However, SoFi has some boutique hotels, a few small private offices, fitness centers and spas, and exclusive establishments, including some of the finest restaurants in Miami and Miami Beach—a perk that often comes up when people consider living in South of Fifth vs living on Fisher Island. Fisher Island has a far less commercial life with only a small bank, post office, and grocery store on the island. The Fisher Island Club and Resort is the only real business in the area, with its small golf course, several restaurants, a market, a marina, a tennis club, and a spa. There is also a fire rescue station and a medical center on the island. ## Outdoor Living & Waterfronts Both have incredible park areas, open access to the water, a marina and beaches. They are truly exceptional neighborhoods to enjoy the unbeatable outdoor lifestyle and weather that South Florida has to offer. The heart of the SoFi community is the beautiful South Pointe Park, where the Atlantic Ocean meets the waters of Biscayne Bay and Government Cut, where the cruise ships head out to port. The park offers direct beach access for swimming and snorkeling, as well as fishing from the South Pointe Pier, and you can kayak, paddle board, and jet ski from the marina on the west side of the neighborhood. It also features beautifully landscaped paths, a large children’s playground with water features, a cafe and juice bars, and a Smith & Wollensky restaurant, where you can sit outside and watch the boats come in and out. The park is also a favorite of dog lovers, yoga practitioners, and those just seeking to spend some time outdoors. On Fisher Island, waterfront residences surround a small, but competitive 9-hole golf course designed by P.B. Dye, and the Fisher Island Spa Club and Resort provides 17 tennis courts featuring all four Grand Slam surfaces, plus 4 pickleball courts. There is a small natural area for bird-watching and one mile of private beach graced with imported, powdery white sand. There are also two deep-water marinas. ## Arts & Culture If you live in SoFi, you’ll have easy access to all of the cultural offerings in South Beach (and Downtown Miami for that matter), including: * The yearly Art Basel fair at the Miami Beach Convention Center in South Beach and all of Art Week Miami * The South Beach Wine and Food Festival * Fashion Week Miami * Several other music, art, and street festivals Beyond the events, South Beach is also home to iconic venues like the Fillmore Miami Beach at the Jackie Gleason Theater, which hosts a diverse lineup of concerts, comedy shows, and live performances, as well as other entertainment places of smaller scale and art galleries. And the Frank Gehry-designed New World Center, home to the New World Symphony. All of Downtown Miami’s cultural and sporting venues, like the Perez Art Museum Miami, the Arsht Center for the Performing Arts, the Frost Science Museum and the Kaseya Center are all a 10-minute drive over the causeway from SoFi. Fisher Island on its own has no public festivals or venues because it is so private and its residents prefer it this way. It has the Vanderbilt Theater at the Fisher Island Club, and its residents may occasionally hold private parties that include live entertainment by well-known celebrities. If you want to venture out to mainland events, you will have to take the ferry to the causeway, or travel by boat or helicopter. For both neighborhoods, cultural life is tied to their proximity to South Beach and Downtown Miami, where residents can enjoy the same festivals and events. The only difference is that SoFi residents can return home more quickly and easily after a night out, while Fisher Island residents have a slightly longer commute, relying on the ferry service or their private yacht as transportation. ## The Shopping Edit Being mostly residential, neither SoFi nor Fisher Island is particularly renowned for its shopping options. However, this doesn’t mean there isn’t any retail offering. South of Fifth provides a charming and curated shopping experience with several boutiques selling unique fashion, artisanal goods, and accessories. For everyday essentials, there’s a Publix a block away from Fifth Street, as well as a Target, a Best Buy, and a Walgreens. Whole Foods is also about 5 blocks away on 10th Street. And then you are only about another mile away to a Trader Joe’s and Fresh Market. The Lincoln Road pedestrian shopping mall will be your closest shopping, whether you are living on Fisher Island or in SoFi. So there is little difference there. On the island, Fisher Island’s shopping is much more exclusive and limited due to its private island status. Retail options here are mainly the boutiques within the Fisher Island Hotel and the island’s private club, selling luxury resort wear, fine jewelry, and exclusive designer items. For everyday items, residents rely on the in-island grocery store or private delivery services. For a wider range of shopping options, residents of both neighborhoods would have to venture out to mainland Miami or into Bal Harbour, which would require a 20-30 minute drive. ## Signature Flavors Although South of Fifth is a low-key neighborhood where you can bypass the hustle and bustle that characterizes South Beach, the area is home to some of the finest restaurants in all of in all of Greater Miami, and in some cases, the world: * The famous Joe's Stone Crab Restaurant has been a Miami Beach icon for decades * The South Pointe Tavern serves up food and drink fit for celebrities * Stubborn Seed, one of Miami’s Michelin-starred restaurants, allows you to taste the creativity of one of Miami’s top chefs * Azabu Miami, located inside the Stanton Hotel, serves exquisite Japanese cuisine * Call Me Gaby is where locals stop by for comforting pizza, pies, and pasta * Nikki Beach is best known for its amazing brunch menu, followed by a haute club scene * Carbone Miami serves Italian fare along with cocktails and wine in an opulent environment Fisher Island, on the other hand, doesn’t have any restaurants open to the general public, but the club’s seven restaurants all have excellent reputations. Among the most popular eateries on the island are: * Fisher Island Beach Club Restaurant * Porto Cervo * Garwood Lounge * Theapolis & Library * Snooker Club * Greenside * La Trattoria ## Top Schools SoFi residents are served by South Pointe Elementary School, Nautilus Middle School, and Miami Beach Sr. High, all of which are highly ranked public schools. Still, many residents may prefer to send their children to local private schools such as St. Patrick’s and the Hebrew Academy, located in Miami Beach, or to private schools located on mainland Miami. ###### Hebrew Academy. Photo courtesy of the Hebrew Academy. Fisher Island is also served by Miami Beach public and private schools, but the Fisher Island Day School is a small private elementary school exclusively for island residents, serving about 150 students in kindergarten through 8th grade (K-8 students). Contact us for specific school recommendations if you are considering either of these neighborhoods. ## Architecture & Design South of Fifth, similarly to the rest of South Beach, is characterized by a blend of beautifully restored Art Deco buildings from the 30s, 40s, and 50s, and a selection of modern luxury condo towers ranging in architectural styles from sleek minimalism to Mediterranean-inspired design. One common thread across all condos is that they feature top-tier amenities such as multiple pools, state-of-the-art fitness centers, concierge services, and on-site spas, with some offering panoramic ocean views with direct beach access. Some of the most luxurious condos on South of Fifth include: * 321 Ocean Drive, a modernist-designed boutique enclave, featuring only 21 exclusive residences. * Apogee South Beach, renowned for its artistic interiors by Yabu Pushelberg and top-of-the-line amenities. * Ocean House, Art Deco restored building with 28 residences and beachfront access. * Continuum South Beach North and South Towers, iconic beachfront towers with expansive units and resort-style amenities. If you’re looking to buy a pre-construction instead, the upcoming Villa Sofia Residences is the only development in the area, offering 27 modern residences, allowing short-term rentals. Fisher Island, on the other hand, is known for its single-family-sized condo residences, almost like condo mansions, private villas, and super-exclusive multi-family condo towers designed for privacy. The residences often feature oversized terraces, multiple balconies, and ample interior spaces. Some of the projects on the island include: * Palazzo del Mare, * Palazzo del Sol, and * Palazzo della Luna, which are the most recent constructions. The island’s only new development is The Residences at Six Fisher Island, an ultra-luxury, 10-story boutique tower offering just 50 units with expansive floor plans and ultra-exclusive amenities. View all currently available properties for South of Fifth to find your perfect condo. ## Prices & Perspective The average listing price for South Beach residences is about $788,389, or $512 per square foot; however, listings in South of Fifth tend to run higher than that, with some of the highest-priced properties reaching around $33,990,000, or $45,320 per square foot. Meanwhile, Fisher Island residences list for an average of about $5,567,078, or $1,489 per square foot, while the most luxurious properties can reach $50,000,000 or about $5,338 per square foot. Another factor to consider when making the South of Fifth vs Fisher Island cost consideration is HOA fees. In Fisher Island, these can go anywhere from $3,500 to $7,000 per month, while South of Fifth’s HOA fees are significantly lower. And you will want to be a member of the Fisher Island Club to enjoy living there, which has membership fees and dues. Additionally, part of your HOA fees living on the island pay for your ferry service. Discover all available Fisher Island properties and find your perfect condo. ## Which is the Better Choice? South of Fifth or Fisher Island? While both SoFi and Fisher Island provide an upscale lifestyle with exclusive privileges and perks, the two neighborhoods attract different residents, mainly based on how much privacy and exclusivity you may desire. If you dream of or need a very private resort living with golf and yachting as the center of your world, you may fall in love with Fisher Island. But if you prefer more accessibility and a laid-back lifestyle with easy access to urban offerings, we definitely recommend South of Fifth. So, whether you’re considering South Beach’s South of Fifth or Fisher Island, or evaluating Miami’s many other neighborhoods, our team has over 20 years of expertise in Miami’s luxury condo market, which makes us the ideal choice to help you find the right Miami property for you. --- _Let us get to know your preferences, desires, and budget and direct you to the most suitable neighborhoods and listings while sharing with you our knowledge and expertise of Miami and the South Florida area._ **LET'S GET SOCIAL!** Connect with us on Instagram and Youtube.

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