Miami Luxury Homes Picks: Top 9 Real Estate Stories of 2016

 
2016 was an interesting, but great year, so Miami Luxury Homes has rated its Top 9 Real Estate Stories of 2016…in no particular order.

1. Miami Condo Market is Far From a Bust: Response to the Wall Street Journal

2. New Order Affecting All-Cash Luxury Real Estate Purchases in Miami Starts Today

3. Redesign of Miami Worldcenter—From “Mall” to Open-Air, Lincoln Road-Esque shopping District

4. The Miami River is Experiencing a Resurgence

5. Camp Biscayne’s “Hammock House” Brings the Outside In (VIDEO)

6. Seller Beware: Agents Will Try to “Buy” Your Listing?

7. Canadian Sellers Grab Instant 45% Return Due To Exchange Rate

8. The Mother of all Amenities: Private Jet Parking for Turnberry Ocean Club Buyers

9. Rockwell Island Luxury Homes in Bimini | Exclusive Video Tour of Genting Group Chairman K.T. Lim’s Estate

Although many naysayers predicted that the sky was going to fall in Miami, it was far from that. Because of the crazy (GOOD CRAZY) few years we have had with prices skyrocketing, the market had to stabilize itself, and that’s what it did in the 2nd half of 2016…prices leveled off, inventory rose, and we slowly shifted into a buyer’s market.

We all know that international buyers LOVE Miami. But, just like a game of whack-a-mole, when one group backs off, another steps up, and that is what is happening with buyers from Canada. According to a recent report by the Miami Association of Realtors, Canadians have surpassed Colombians as the top buyers of South Florida real estate. And, we have seen an even greater number of domestic buyers than ever before.

2017 should be very interesting…

If you are interested in learning more about the Miami real estate market, please contact broker Michael Light, Director of Luxury Sales at Douglas Elliman. You may reach Michael on his cell at (786) 566-1700 or via email at michael@miamiluxuryhomes.com.