Real Estate Blog

Page 1 Of 16

158 Articles Found

Tags:  Miami Real Estate Market Overview



In this overview on the luxury real estate market we wanted to give you a brief update on the ultra-high-end luxury real estate market in Miami Dade County; how it all began and where we are now. The price range that we will consider for this ultra-high-end market segment is $20M and over.

Miami wasn't always the destination for luxury buyers for ultra-high-end real estate. Up until recent years, Miami did not have this type of luxury real estate product available. It all started in 2004 when wealthy buyers from around the world started to target Miami's waterfront mansions due to Florida's tax benefits and the lifestyle that Miami Beach offered.

Year 2006 is the year when the Miami Beach area saw its first closed sale over $20M with the sale of 12 Indian Creek Island Road for $22.5M, in which Nelson Gonzalez represented the Buyer. The first sale for Miami Dade County over $20M was 2 years earlier in 2004 with the sale of 1 Arvida Parkway at $20.6M. In the time from 2004 to 2012 Miami Dade recorded a total of 6 sales over $20M which amounts to an average of 1 sale over $20M each year. Starting in year 2012 this number tripled and from 2012 until present Miami Dade has been recording an average of 3 sales over $20M per year. The total number of sold single-family waterfront homes over $20M for Miami Dade County so far is 27. Nelson Gonzalez has personally sold 8 of the 27 homes closed over $20M. Throughout the years, the inventory levels for this market segment have been slowly increasing, but increasing at a higher rate than demand. In 2017 inventory levels for this market show an increase of nearly 300% compared to 9 years ago. The silver lining is that demand for high end real estate and the number of sold luxury homes has also been increasing. Year 2017 started off great for this market segment with already 3 closed sales of $20M+, in which Nelson Gonzalez represented the buyer in 2 of the sales. At the moment, in Miami Dade there are 41 single family waterfront homes for sale with an asking price of $20M+, and 1 pending sale. Although demand and sales have increased, inventory levels for this type of luxury real estate are still high for such a small market segment and it may take some time before that inventory burns off and the real estate market stabilizes.

Scroll below to see all the sales of over $20M in which Top Producing Realtor Nelson Gonzalez has represented the Buyer, Seller, or both, including Nelson’s Record-Breaking sales! CLICK HERE to see the Facts & Trends Report and see how inventory levels for this luxury real estate market segment has changed in the last 10 years, quarterly.

RECORD-BREAKING SALE FOR MIAMI BEACH AND NORTH BAY ROAD

5800 North Bay Road | Sold: $33,000,000 | 2015

RECORD-BREAKING SALE FOR VENETIAN ISLANDS

212 W Di Lido Drive | Sold: $22,000,000 | 2017

RECORD-BREAKING SALE FOR COCONUT GROVE

La Brisa Estate | 3551 Main Hwy | Sold: $34,600,000 | 2016

HIGHEST SALE FOR NORTH BAY ROAD IN 2 YEARS

6466 North Bay Road | Sold: $20,000,000 | 2017

HIGHEST SALE FOR INDIAN CREEK VILLAGE IN 5 YEARS

17 Indian Creek Island Rd | Sold: $30,000,000 | 2015

OTHER SALES OVER $20M FOR NELSON GONZALEZ

12 Indian Creek Island Rd | Sold: $28,000,000 | 2014

12 Indian Creek Island Rd | Sold: $22,500,000 | 2006

2068 North Bay Rd | Sold: $20,500,000 | 2014

This overview was presented by Miami’s Top Realtor Nelson Gonzalez and Julijana Rose from THE NELSON GONZALEZ TEAM at EWM Realty. If you need help buying or selling your waterfront home or a condo contact us.



 

Tags:  Miami Real Estate Market Overview



Below is a brief update on the condo market in Miami Beach in the last 3 years, in 3 different price ranges. We have included 3 Facts & Trends reports, which we will discuss in length.

The first graph (CLICK HERE TO VIEW GRAPHS) shows number of condos For Sale vs. Sold vs. Pended in Miami Beach in the price range of $1M-$5M, from March 2014 through March 2017. Inventory levels in this market segment started slowly increasing by the end of 2014, and by the beginning of 2016 the inventory levels had doubled. The number of condos for sale in this price range in March 2014 was 314, while in March 2017 this number was 640. This is the highest inventory levels for condos in this market segment, ever. has ever been. Sold condos in March 2017 were up by 20% compared to March 2016 and March 2015, and 25% down compared to March 2014. While months of inventory in March 2017 based on closed sales was 26.7 - almost triple compared to March 2014 when months of inventory was only 10.5, but lower from March 2016 when months of inventory was 30.5. For the Miami Dade condo market, months of inventory in a balanced market is somewhere between 6-9 months. For the 1 million-and-over condo market months of inventory in a balanced market is between 12-18 months, and for the $3M-$5M price range market months of inventory is between 15-21 months. This number goes a bit higher for the highest end of the market.

The second graph (CLICK HERE TO VIEW) shows number of condos For Sale vs. Sold vs. Pended in Miami Beach in the price range of $5M-$10M from March 2014 through March 2017. The number of condos for sale in Miami Beach for this price range in March 2014 was 50. Since then, inventory levels have been slowly, but consistently increasing reaching a number 96 in March 2017 - 26.3% higher compared to March 2016, nearly 30% higher than March in 2015, and almost 100% higher than in March 2014. On a positive side, Sold condos in March 2017 were up by 150% compared to March 2016. This dramatic increase in sales in March 2017 is in part due to the increase in activity that Miami Beach saw right after the US elections. Months of inventory based on closed sales in March 2014 was 25, while months of inventory in March 2017 was 19.5. This slight decrease in months of inventory compared to 2014 is a positive change, but significantly positive change when compared to the months of inventory in February 2017 when it was 85 months of inventory.

The third graph (CLICK HERE TO VIEW) shows number of condos For Sale vs. Sold vs. Pended in Miami Beach, priced over $10M from March 2014 until March 2017. Inventory levels for this market market segment already started to increase in 2014, but showed dramatic increase in the last quarter of 2015, and reached a record in March 2016. The number of luxury condos for sale in Miami Beach priced over $10M in March 2017 was 41 units - 2.4% decrease from March 2016, nearly 50% increase compared to March 2015, and 100% increase compared to March 2014. In March 2017, there were 0 Sold condos, while in March 2016, March 2015, and March 2014 there was 1 Sold unit for each. Months of inventory in this price range was 41 for March 2017, 42 for March 2016, 28 for March 2015, and 21 for March 2014, concluding that months of inventory in March 2017 is double compared to months of inventory for 2014.

The numbers for the condo market over $1M for Miami Dade County are no different. With inventory levels up by 19% and sales down by 22% year-over-year, it is clear to see why the 1 million-and-over condo market is experiencing the biggest challenges. However, even with the difficulties that the condo market has been experiencing in the last few years, sales are still happening. In the time period discussed above, there were over 600 closed sales in the MLS for the 1 million-and-over condo market in Miami Beach.

From our experience, when listing your home on the market for sale it is extremely important to price it correctly. The price of the home will directly impact the number of buyers that will consider your home, thus increase the opportunity to sell. In a buyer's market, as we are in today, the initial asking price is a crucial component in attracting a willing and ready buyer.

CLICK HERE to read our UPDATE on the Single-Family Homes Market in Miami Beach.

If you would like to hear from us regularly, please CLICK HERE to subscribe to our newsletter and stay updated with the latest news and trends in the luxury real estate market in Miami Beach.

This market update on the Miami Beach luxury condo market was presented by top producing realtor Nelson Gonzalez and Julijana Rose from The Nelson Gonzalez Team, at EWM Realty International.



 

Tags:  Nelson Gonzalez New Listing



Located in the most desirable Miami Beach neighborhood, Lower North Bay Road, this spectacular Mediterranean estate offers 9 bedrooms, 9 bathrooms, 2 half baths, plus an office, within nearly 10,000 square feet of luxurious living space. The home sits on a 25,561 square feet lot with a 100 feet of waterfront. In the midst of this unique Miami Beach waterfront home is a beautiful interior courtyard connecting the main house with the guesthouse. As you enter the home, you are welcomed by an entry foyer with a stunning Rotunda staircase leading to a large living room with dramatic architectural features, including high soaring ceilings, arched impact doors and windows, remarkably detailed loggia, and fireplace. Next to the living room is a custom-made kitchen opening to a family room and breakfast area overlooking the water and pool deck, and formal dining facing the interior courtyard. Additionally, large waterfront office, a bedrooms, and a powder room downstairs. Four bedrooms upstairs, including incredible master suite with a seating area, two private terraces offering water views, walk-in closets, and deluxe bathroom. The generously sized guesthouse features four large bedrooms – one bedroom converted into a fully equipped gym, another a guesthouse, and a two-bedroom staff quarters. Find yourself surrounded with a beautiful lush landscaping and many incredible outdoor spaces for entertaining, such as interior courtyard with fountains, covered IPE cabana with seating booth, roof-top deck, covered dining area/patio, pool cabana with summer kitchen, infinity pool, Jacuzzi, basketball court, kid's play area, and much more! This waterfront property is offered fully furnished and is a true representation of the Miami Beach luxury real estate. Call Listing Agent Nelson Gonzalez from EWM Realty for more info at 305.674.4040 or email Nelson@NelsonGonzalez.com



 

Tags:  Record Breaking Sales



We proudy announce another record sale for North Bay Road and Miami Beach, in which we represented the buyer! This incredible piece of luxury real estate sold for $20,000,000, making it the highest sale for North Bay Road since our record-breaking sale in 2015 (5800 North Bay Road). 6466 North Bay Road is an impeccably designed, modern waterfront mansion located on prestigious Upper North Bay Road. This ultra high end home was built in 2016, and offers 7 bedrooms, 8 bathrooms, and 2 half bathrooms, within 11,568 square feet of interior living space. Some of the features of this exceptional waterfront residence include beautifully designed living room with water views, stunning formal dining, chef's kitchen with breakfast area next to the backyard and pool deck, family room with a wet bar, movie theater, elevator, expansive roof top terraces with garden, and exquisite master-suite with outdoor Jacuzzi. Serene water views can be enjoyed from most rooms from this modern home. The exterior is fully equipped for entertaining and enjoying life on the water to the fullest! Pool deck with summer kitchen, many covered terraces, and expansive roof-top deck completes this waterfront masterpiece! This waterfront property was developed by Palos Developments and Bart Reines.

Click Here to read The Real Deal article on this sale.

If you need help buying or selling a propery in Miami Beach and the Miami area, call Nelson Gonzalez from EWM Realty International.



 

Tags:  Sunday Open House



JOIN US FOR AN OPEN HOUSE THIS SUNDAY, APRIL 16, 3-6PM AND SEE THIS ULTRA LUXURIOUS WATERFRONT PROPERTY IN MIAMI BEACH.

820 Lakeview Drive is an exeptionally designed modern waterfront home located in the Lakeview area of Miami Beach, across from Fisher Park and near La Gorce Golf Course. The home is sited on a 17,702 square-feet lot with 80-feet of waterfront overlooking the new and beautiful Ritz Carlton Villas. Some of the luxe features of the first floor of this 7-bedroom 8-bathrooms and 1-half bathroom waterfront property include: large living room with dramatic 16-foot tall ceilings and glass walls offering courtyard and pool views, incredible waterfront family room, formal dining room with wine cellar, and high-end Poliform kitchen with an island, large pantry, and double SubZero/Wolf appliances. There are three separate stairways that can take you the the second floor of this high end mansion; there, you will find situated 5 bedrooms, including the spectacular mega-sized master suite with seating area, huge his/hers Poliform closets, private terrace, and an ultra-luxurious master bathroom. Only high-end finishes and materials have been used throughout the entire home: wood floors, floor-to-ceiling italian doors with invisible hindges, glass railings on all stairways, Dornbracht fixtures, Lutron lighting control, marble bathrooms, and much more. The exterior offers new dock, new seawall, 50-foot pool with extensive water features, summer kitchen, covered patios, 3-car garage, and detached guesthouse. This Miami Beach luxury home is built by On One Group, and offered was just reduced to $11,500,000 from its original price of $12.500,000.

If you have any questions about this open house contact Julijana Rose from THE NELSON GONZALEZ TEAM at 305-674-4040 or 646-339-3226



 

Tags:  Miami Real Estate Market Overview



The following market overview includes sales of single-family waterfront homes in Miami Beach for 2015 and 2016, and for the impressive first quarter of 2017.

Let's start with year 2015. This year was one of the best years for the luxury real estate market in Miami Beach, ever! There were a total of 10 closed sales over $10M and 33 closed sales with selling price between $5M-$10M. The average selling price on the over $10M sales was $1816 per square foot. This was the year that Miami Beach saw its all-time record-breaking sale at $33M for 5800 N Bay Road. The home sold for $3,065 per square foot - the highest dollar per square foot for a single-family home, ever! 5800 N Bay Road is one of the most incredible waterfront estates in Miami Beach, sited on a 52,881-square foot lot with 200 feet of wide Bayfront and spectacular Miami skyline views. We represented the seller in this transaction, and this year alone we sold nearly $200M worth of luxury real estate.

Year 2016, however, showed to be more challenging. This year the luxury real estate market in Miami Beach was impacted negatively mainly by two factors; one, the strong dollar against international currency and two, the US elections in full swing. The strong US dollar affected mostly the buying power of the international buyer, which in turn caused weakness in our real estate market. Because of the strong US dollar and the weak global economy, most of the international buyers were apprehensive to invest in luxury real estate. Domestic buyers on the other hand, were also choosing to rent instead of buy due to the uncertainty that was caused by one of the mostly highly controversial US elections. It is usually the case in most election years that domestic buyers of big ticket items such as homes and cars, tend to slow down a bit, but this election was quite special and not in a positive way for the high end real estate market. However, the market saw a pop right after the election and the activity increased dramatically. This year there were fewer homes sold, 8 closed sales over $10M, and the average selling price per square foot of these 8 sales was a bit lower, $1,614 per square foot. In the price range of $5-$10M, there were 27 closed sales. This year we sold nearly $120M worth of luxury homes and condos on Miami Beach.

And here we are now, in 2017. This year started strong with 4 closed sales in the price range of $5-$10M, and already 5 closed sales over $10M. Two out of the 5 sales over $10M sold for over $20M. WOW! The average selling price for the over $10M sales so far is $1,877 per square foot. This year, the Venetian Islands saw their first sale of over $20M - and by far highest sale ever - with the sale of 212 W Dilido Drive selling at $22M, or nearly $1900 per square foot. We represented the buyer in this transaction. This waterfront home was an absolute modern perfection and exactly what today's buyer is looking for: well-built and designed, move-in ready home, with a prime address and unpreceded waterfront views! Great year so far, and we sure hope it continue to be this way.

That being said, we cannot ignore the fact that inventory levels affect the overall state of the real estate market. Another reason why 2016 showed to be challenging for the luxury real estate market in Miami Beach was the dramatic increase in inventory levels at prices that may not be realistic in today's market environment. Although inventory levels have started to flatten and asking prices are being readjusted, inventory levels are still high compared to previous years and it may take some time for this inventory to burn off and for the market to stabilize.Click Here to see Facts & Trends Reports for Miami Beach waterfront, single-family homes, over $1M, in the last 15 months.

This information was presented by Top Producing Realtor Nelson Gonzalez and Julijana Rose from THE NELSON GONZALEZ TEAM at EWM Realty International.



 

Tags:  Nelson Gonzalez New Listing



Make the beach your backyard and the Atlantic Ocean your pool! Rarely available! Nelson Gonzalez from EWM Realty just listed for sale and rent TH-2, a beautiful 3-story oceanfront townhome at Mosaic condominium on Miami Beach, offering the privacy of a house and the convenience of a luxury condo. You can enjoy magnificent direct ocean views from all rooms of this unique beachfront condo. On the grown level you will find a private large courtyard, full bathroom with a shower, and plenty of space for storage. On the second level is a large living room with a balcony, open European kitchen with cooking island and Miele appliances, one bedroom, powder room, and the laundry. The master suite is located on the third level of this oceanfront home and comes with a private balcony, huge walk-in closet, and large master bathroom with double sinks and Jacuzzi. Townhome-2 is one of only four townhomes that have private entry, private elevator, attached 2-car garage, and huge private rooftop terrace with summer kitchen overlooking the beach and the ocean. Mosaic residents enjoy the best 5-star amenities including movie theater, beach service, swimming pool, fitness center, dog park, free Valet, and more. This waterfront property is offered for sale at $3.5M and also for rent at $12,000 per month.

If you have any questions or want to set up a private showing of Mosaic TH-2 call the office of Nelson Gonzalez at 305.674.4040.



 

Tags:  Open House, Sunday Open House



Please Join Us this Sunday between 2-5pm at our OPEN HOUSE being held ONLY THIS ONE TIME, and get a tour of this incredible waterfront property on the Venetian Islands. This luxury home was completely rebuilt in 2016 and features many unique architectural details and finishes. You will need to see this San Marco Island home to see how truly execptional is. We look forward to meeting you there. Don't miss this oppurtinity to see what Miami Beach luxury real estate looks like. Read below to learn more.

EXCLUSIVE OPEN HOUSE: Sunday | January 22, 2017 | 2pm-5pm

1277 N Venetian Way, Miami, FL 33139

Nelson Gonzalez presents 1277 N Venetian Way, his newly listed Biscayne Bay waterfront home for sale on the Venetian Islands. This is a truly unique California Spanish Revival re-built in 2016 and boasting 60 feet of incredible wide open bay views. This manse is offering one-of-a-kind features and a perfect blend of indoor/outdoor space for luxe Miami Beach entertaining. One distinct feature is the custom designed interiour courtyard with fountain and built-in seating area that is located between the living room and library and is the ideal spot for enjoying an afternoon sun with a coffee and a book. Additional features include two fireplaces, coral stone and wood Herringbone design floors throughout, arched impact doors and windows, 12-panel Mahogany wood doors, and Santa Barbara ceramic tile bathrooms. Home offers 6 deluxe bedrooms, 6 bathrooms, 2 half baths, in addition to a large family room and formal dining room with splendid water views. Situated on the second floor is an incredible master suite with terrace, and four guest bedrooms. The exterior of this exquisite home is as spectacular as the interior and offers a pool deck with large covered cabana and fully equipped wet-bar to provide an unforgettable rich treatment. Pier dock is fitted for a 60-foot yacht.

Contact Nelson Gonzalez, the Top-Producing individual realtor for Dade County, for more information on this property or for any other of your real estate needs.



 

Tags:  Nelson Gonzalez New Listing



Imagine... Set on prime oceanfront lot with pristine white-sand beaches and swaying palms, only three blocks from world-famous Bal Harbour Shops, Fendi Chateau is an ultra-high-end condominium offering luxurious beachfront living. Those fortunate enough to call Fendi Chateau - home will find themselves fully immersed into this lavish, yet intimate, South Florida’s lifestyle. As you enter the 2-story lobby, you will find an unexpected contemporary oasis of designer finishes mixed with extravagant interior and exterior features and services, accessible exclusively to Fendi Chateau residents! Unit 601 is a stunning direct ocean corner residence, with East/West/North exposure, flow-through floor plan, and incredible wrap-around terraces that are ideal for entertaining, or relaxing and taking-in the ocean breeze. This decorator-ready condo is the perfect opportunity to choose your own finishes and design the beachfront home of your dreams. It offers three luxe bedrooms, three full bathrooms, and a powder room. Its mega-sized living room is perfectly situated on the east side offering serene ocean and pool views, in the middle is an open high-end kitchen with Fendi cabinets, cooking island, breakfast bar, double refrigerators, freezers and dishwashers, and on the west side you will find the oversize family/dining room with panoramic intracoastal and Miami skyline views. The oceanfront master suite comes with luxurious marble bathroom and a huge walk-in closet. The large laundry room can easily be converted into a forth bedroom. Unit comes with two prime parking spaces, one storage unit, and private elevator. Additional luxurious interior and exterior amenities and services include private cinema, private restaurant, full chef’s kitchen, library, business center, oceanfront fitness center, kids’ club, 2 pools, Gazebo with full kitchen, beach and pool service, and much more. Fendi Chateau is a true representation of the new level of excellence that South Florida’s luxury condos offer; a true oceanfront luxury real estate and luxury lifestyle. If you have any questions about this luxury condo or would like to set up a showing, call listing agent Nelson Gonzalez at EWM Realty.



 

Tags:  Nelson Gonzalez New Listing



With 2016 coming to an end, we wanted to give you an update on the luxury real estate market and how it compared with the year 2015. In the last several years, Miami's luxury real estate seems to have been a magnet fo domestic and international buyers, whether the reasons being Florida's favorable tax regulations, global economic weakness, violence abroad, or governmental unrest in South America. With its beautiful sandy beaches, great year-round weather, and many restaurants and cultural attractions such as Art Basel, Art Miami and the International Boat show, how can one resist South Florida’s waterfront real estate?! The year 2015 was one of the most active years for the real estate market in South Florida. We personally sold nearly $200 Million worth of luxury homes and condos, including three of the largest mansions on Miami Beach and Indian Creek Village, all with a selling price tag of $30M+. The year 2016 however, showed to be a bit challenging for the high end homes and condos. Although we sold another waterfront estate in Coconut Grove that broke all records with its selling price of $34.5M, the luxury real estate market was soft overall, as most of international buyers were apprehensive due to the strong US dollar and their unstable economy while the domestic buyers due mostly to the uncertainty with the US elections in full swing. It is usually the case in most election years that the domestic buyers of big ticket items such as homes, cars, and appliances tend to slow down a bit, but this year’s elections have been well... "special" and hit the breaks on the real estate market a bit harder. Since the summer, with the international currencies, including the Euro, getting a bit more attractive against the US Dollar and oil prices on the rise, the international market in Miami has shown some signs of life, especially after the presidental election. Inventory levels have started to flatten and sellers are repricing their homes more competitively. We are seeing many Europian and South American buyers currently actively looking at homes, condos, and vacant land, and want to make Miami Beach their home. Now with the elections behind us, we have noticed that domestic buyers are on the move as well, as the showing requests for waterfront homes have increased dramatically. Buyers are not only looking, but also making offers. The world has definitely set its sights on the luxury real estate market in Miami Beach. North Bay Road, Pine Tree Drive, Flamingo Drive, the Venetian Islands, and the gated communities such as the Sunset Islands, La Gorce Island, Star Island, Palm and Hibiscus Island, and Indian Creek Village are Miami Beach’s most sougth-after luxury real estate locations. It seems that everyone wants a slice of paradise, and our prediction is that the next 12-18 months may still be a challenge for the high end real estate market, but sales should get a bit of a pop now that certainty is starting to creep back to the market. With its stunning and unparalleled views of Biscayne Bay waterfront and the Atlantic Ocean, who would not want to call any of Miami Beach’s beachfront condos and waterfront homes their home?!

This market overivew on the Miami Beach luxury real estate market was provided by top producing realtor Nelson Gonzalez and Julijana Rose from THE NELSON GONZALEZ TEAM at EWM Realty International. If you need help selling or buying a home in Miami Beach and Miami call The Nelson Gonzalez Team and see how we can help you with your real estate needs.



 

Page 1 Of 16

158 Articles Found