Description: Top Miami, Coral Gables and Coconut Grove Luxury Home and Condo Realtor, Ashley Cusack, published her views on the ultra-luxury segment covered in a Market Insights report recently issued by Berkshire Hathaway HomeServices on developments within the South Florida real estate market.
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Top Coral Gables Realtor Ashley Cusack on South Florida Ultra-Luxury Home Market
Cusack and her team are highly experienced real estate professionals who represent both sellers and buyers of luxury homes and condos in Coral Gables, Coconut Grove, Miami Beach, Gables Estates, Pinecrest, South Miami and Ponce Davis.
Cusack reported that Miami-Dade’s ultra-luxury real estate market, which includes single family homes and condos that have sold for more than $10M, continued to be highly active in the 2nd quarter of 2021, especially when compared to the same quarters in 2019 and 2020. Q2 2021 Sales for single family homes in the $10M+ category were up 920% with an astounding 51 ultra-luxury homes sales versus 5 Homes sold in Q2 of both 2019 and 2020.
Condo sales were similarly strong, up from 4 sales in 2020, 3 in 2019 to 28 sales in Q2 2021, yielding a 600% increase. The available supply of ultra-luxury single family homes and condos is another excellent indicator of how active this high-end market is.
Single family homes are at an 8.3-months' supply in Q2 2021, whereas that number averaged 80 months in the second quarters of the previous two years.
Inventory, which is the number of homes for sale in the MLS is another important indicator of market dynamics. Single family home inventory is down in 2021, but the number of available condos at $10M is up in 2021 as compared to 2020 and 2019.
\"I do think that if we had a more detailed breakdown of this very high-end market, then those numbers might adjust a bit - there have been a number of sales in the $20M range that could probably deserve their own price bracket for analysis!\"Miami-Dade's ultra-luxury market has continued to shine
All these factors point toward a strong seller's market, so homeowners in Coral Gables, Coconut Grove, Miami Beach, Palmetto Bay, Pinecrest, or any other South Florida locations should consider contacting Ashley Cusack Team to discuss the possibility of listing their home. Cusack has sold over $1 billion in residential real estate sales in her almost 30-year career with a business that is almost all sourced from repeat referrals. The Ashley Cusack Team has sold over $90 Million in real estate in the Miami area in the first half of 2021.
Contact Us At: ashleycusack.com or call 305-798-8685
