Q2 2024 Greater Downtown Miami Luxury Condo Market Analysis

Record-Breaking Prices and Sales Trends in Edgewater & Brickell Body Text: The luxury condo market in Greater Downtown Miami saw strong activity in Q2 2024, with stable year-over-year sales and all-time highs in price per square foot. Despite a shift towards a soft buyer’s market, certain sub-markets like Edgewater and Brickell showed exceptional performance.

• Sales Highlights:Brickell led with 83 sales, while Edgewater had a 36% YoY increase in sales, making it the fastest-growing neighborhood.Edgewater also reported the highest price per square foot at $944, while Brickell posted the highest median price of $1.4 million.Luxury condos in Brickell sold the fastest, with properties averaging 51 days on the market.

Conclusion

As we head into the latter half of the year, Greater Downtown Miami remains stable, transitioning into a buyer-friendly market with inventory up to 18 months. However, high-end areas like Brickell and Edgewater continue to offer excellent value to sellers and buyers alike. Miami’s growing status as a business hub and lifestyle destination keeps demand strong, ensuring a vibrant market for the foreseeable future.

Greater Downtown Miami Luxury Condo Markets at a Glance - Q2 2024 YoY (Number of Sales)

Greater Downtown Miami Luxury Condo Markets at a Glance - Q2 2024 YoY (Median Sales Price)

Greater Downtown Miami Luxury Condo Markets at a Glance - Q2 2024 YoY (Median SP/SqFt

For a deeper dive into the luxury condo market or personalized advice, reach out to IRG today!

Explore the Latest Trends in Miami’s Luxury Condo Market – Contact IRG!

🌟 [Visit Our Website ] 🌟 [Follow Us on Social Media] 🌟 [Subscribe to Our Podcast]

Contact us today to explore the epitome of luxurious living. ✉️ office@internationalrg.com | 📞 +1-305-507-5546 | 🌐 www.internationalrg.com

Stay tuned for more exciting news from IRG, and remember📅

THE TIME IS NOW!🌟