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Miami Beach Luxury Homes - market report

Ines Hegedus-Garcia
ines@miamism.com

There is constant talk about how hard the Miami Real Estate Market is being hit. I decided to produce a Miami Beach Luxury Market Report so you can see single-family homes that have sold this year in Miami Beach over $3,000,000.

Miami Beach Luxury Homes Sold

Indian Creek Island - one sale

  • 30 Indian Creek Drive - listed for $8,750,000 sold for $7,000,000 on 3/5/08 - this was a 4 bedroom, 4.5 bathroom home with 6,256 square feet of living space on a 53,356 sq. ft. lot.

Bal Harbour - one sale

  • 268 Park Drive - listed for $5,500,000 sold for $5,500,500 on 5/20/08 - 7 bedrooms / 8.5 bathrooms, 6.986 sq. ft., 15,825 sq. ft. lot

Surfside - one sale

  • 1356 Biscaya Drive - listed for $3,200,000 sold for $3,200,000 on 2/12/08 - 5 bedroom / 4 bathroom, 5,462 sq. ft. on a 22,230 sq. ft. lot

Miami Beach / North Bay Road - 2 sales

  • 5050 N. Bay Road / La Gorce Golf Subdivision - listed for $18,900,000 sold for 13,100,000 - 9 bedrooms / 11 bathrooms and 2 half-baths, 10,000 square feet, 32,085 sq. ft. lot.
  • 6380 N. Bay Road / La Golrce Golf Subsidvision - listed for $6,500,000 sold for $5,700,000 on 5/12/08 - 5 bedrooms / 4 bathrooms / 2 half-baths, 5,607 sq. ft on a 27,013 sq. ft. lot.

Sunset Islands - 2 sales

  • 1401 W. 27th Street - listed for $12,500,000 sold for $10,000,000 on 1/25/08 - 8 bedrooms / 9 bathrooms, 9,626 sq. ft on a 20,000 sq. ft. lot.
  • 1425 W. 27th Street - listed for $6,800,000 sold for $5,700,000 on 5/15/08 - 5 bedrooms, 7.1 bathrooms, 6,595 sq. ft. on a 20,000 sq. ft. lot.

Venetian Islands - 5 sales

  • 1374 S. Venetian Way / San Marco Island - listed for $7,950,000 sold for $6,250,000 on 5/9/08, 7,117 sq. ft on a 10,500 sq. ft. lot
  • 235 E. Rivo Alto Drive / Rivo Alto Island - listed for $5,900,000 sold for $4,600,000 on 4/17/08 - 6 bedrooms / 6 bathrooms, 6,000 square foot home on a 10,500 sq. ft. lot
  • 1215 N. Venetian Way / San Marco Island - listed for $5,700,000 sold for 4,500,000 on 4/22/08 - 7 bedrooms / 6.5 bathrooms, 7,653 sq. ft on 13,382 sq. ft. lot (this house has been re-listed for $7.9 million)
  • 214 W. San Marino Drive / San Marino Island - $5,395,000 sold for $5,000,000 on 4/2/08 - 6 bedrooms / 4 bathrooms, 3,763 sq. ft. on a 15,750 sq. ft. lot
  • 830 W. Dilido Drive / Di Lido Island - listed for $3,650,000 sold for $3,150,000 on 2/15/08 - 4 bedrooms / 3 bathrooms, 3,734 sq. ft. on 13,408 sq. ft. lot.

Hibiscus Island - 1 sale

  • 24 S. Hibiscus Drive - listed for $14,900,000 sold for $10,600,000 on 5/1/08 - 5 bedroom / 5 bathrooms / 2 half-baths, 13,000 sq. ft. on 19,687 sq. ft. lot

Palm Island - 2 sales

  • 16 Palm Ave - listed for $9,995,000 sold for $11,500,000 on 3/3/08 - 7 bedrooms, 6 bathrooms, 2 half-baths, 6,345 sq. ft. on 35,348 sq. ft. lot.
  • 4 Palm Ave - listed for $8,750,000 sold for $7,900,000 on 5/15/08 -7 bedrooms, 8 bathrooms, 8,169 sq. ft. on 17,603 sq. ft. lot.

http://maps.google.com/maps/ms?ie=UTF8&hl=en&msa=0&t=h&msid=110588023266916152180.00044dc500ac7785e2a7e&ll=25.85428,-80.154533&spn=0.222758,0.30899&z=12

What is interesting to note from these 15 Luxury sales is that 1 of them sold in January, 2 in February, 2 in March, 4 in April and 6 of them in May and the month is not even over. Does this mean that the Miami Beach Luxury Market is starting to see more movement? you better believe it! More than 1/3 of the Luxury Sales this year have occured in the month of May.


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