What’s the latest with Miami’s Luxury Condo Market? Watch this video for a quick analysis backed by solid MLS numbers for the month of May 2022.
🎙️ In this video, Sep Niakan, founder of Blackbook Properties and Condo Blackbook.com, talks about what we are seeing in the Miami Luxury Condo Market Q2. You’ll also find answers to how the preconstruction market is in overdrive, whether we’re in another boom & bust cycle, and what we expect for the middle of 2022?
➤ Skip to key moments:
00:50 – Q1 2022 Miami Market Recap – Stats from the First Quarter of This Year
01:13 – May Miami Market Overview
01:31 – May 2022 Total Luxury Condo Sales, DOM, and Inventory
02:03 – Examples to Explain the Current Demand in Miami
02:40 – May 2022 Total Luxury Condo Sales
02:55 – May 2022 Total Luxury Condo Months of Inventory
03:42 – May 2022 Total Luxury Condo Days on Market
04:10 – Miami’s Market in Comparison with Other Markets Nationwide
05:56 – Miami Luxury Condo Days on Market – In Depth by Neighborhood
06:19 – Miami Luxury Condo Total Sales – In Depth by Neighborhood
06:43 – Preconstruction Isn’t Reflected in the Stats
08:04 – When WILL the Market Slow Down?
💥 HIGHLIGHTS from Condo Blackbook’s May 2022 Miami Luxury Condo Market Report**:
➤ Slight Dip in Overall Luxury Condo Sales: 256 sales (down from 261 in April)
➤ Days on Market down to new low: 49 Days
➤ Inventory* down to new low: 6 months (Lowest EVER recorded in Miami)
*Months of Inventory indicates how long it would take to sell everything currently listed on the market, at the current pace of sales.
**For the purpose of Condo Blackbook’s luxury condo market reports, we only consider closed sales for Miami condos priced $1 million or higher. Pre-construction condo sales are not considered.
Here’s a quick look at what’s driving more people to Miami →
➤ The Business – Our crypto-friendly, pro-business, and no-income-tax policies are attracting buyers from every nook of the world.
➤ The Outdoors – Our great beaches and year-round warmth have always been coveted amongst snowbirds and staycationers but are now pulling in more digital nomads (read remote workers).
➤ The Global Luxury – Our luxury condos, nightlife, shopping, dining, art, and culture scene have all been upgraded to match, if not beat, international standards.
For more information, read our Comprehensive Q1 2022 Miami Luxury Condo Report →
Have an opinion? Leave a comment below; we’d love to hear it!
👍 Like and SUBSCRIBE for more insider views on Miami condos and lifestyle!
😎 MUST WATCH videos about the best MIAMI NEIGHBORHOODS TO LIVE IN
Living In EDGEWATER, Miami’s Best Kept Secret Neighborhood, Edgewater
😎 MUST WATCH videos about MIAMI PRECONSTRUCTION PROJECTS
Missoni Baia: Italian Luxury Designed for Miami Living
Casa Bella by B&B Italia – In-Depth Look at Miami’s Italian Living
Waldorf Astoria Residences Miami Overview
📣 Are we friends on Social Media? 📣
Follow us on our Instagram @blackbookproperties!
Looking at Miami-area condos or homes?
Use our free property search:
For the latest news on new Miami luxury condo developments, pre-construction buying opportunities, or real estate advice, check out our expert articles at:
Founder, Condo Blackbook & Owner/Broker, Blackbook Properties
FL DRE BK3102146
SHOP WITH PRIME | FREE TRIAL | NEXT DAY DELIVERY | PRESS IMAGE BELOW FOR DETAILS:
SHOP ALL OF AMAZON: