Danny's Blog

Miami Ranks Among America's Top Luxury Destinations

Wednesday, November 5, 2014
Tags:   Miami Beach Homes, Miami Beach Listings

For those familiar with the city of Miami, you may know that it is not one of the great travel destinations in the country but also one of the most lucrative markets for luxury real estate as many around the world hope to enjoy the city’s many great arts, dining and entertainment options year-round.

According to Miami Agent Magazine, Miami now ranks among America's top luxury destinations. This was determined by statistics provided by Coldwell Banker Previews, which collected the number of listings over $1 million. These statistics showed that from July 1, 2013 through June 30, 2014, there were 933 Miami and Miami Beach Listings sold for a million dollars or more.

Based on these statistics, the city now ranks as one of the top ten luxury real estate markets in the country based on number of homes priced over $1 million. It ranks 8th on the list, behind Naples, Florida and ahead of San Diego. However, it is strikingly close to other cities like Houston, Chicago and Washington D.C. The top three cities on the list are San Francisco, Los Angeles and New York.

The study also determined that Miami Beach is also one of the top destinations for homes for homes worth over ten million dollars. During the time frame of the study, there were 17 homes over $10 million through Coldwell Banker, just a small section of the homes sold. This reflects not only the increase in luxury homes but also ultra-luxury real estate that has risen rapidly in the city as developers seek out to build the most extravagant units available and high-net earners paying top dollar for the finest Miami Beach Homes.

To learn more about the luxury real estate available in Miami and Miami Beach, contact real estate expert Danny Hertzberg at (305) 505-1950 or e-mail danny@thejills.com.

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