Summarizing the top 21 most expensive sales of luxury homes and condominiums in Miami Beach's real estate market for the final quarter of 2011:

As indicated at bottom of this blog post, Eleven condominiums priced over $3 Million sold in Miami Beach in the final quarter of 2011 for an average price of $1,765 per square ft. of living space.

Also indicated at the bottom of the blog post, TEN waterfront homes in Miami Beach priced over $2 Million were sold in the final quarter of 2011, at an average sales price of $720 per square ft. of living space.

The available Miami Beach luxury waterfront home and condo inventory drastically declined last year. As I previously highlighted in my 2011 Miami Beach Condos Year End Review, affluent foreign (and mostly cash buyers) have been taking advantage of recent real estate price corrections by spending over $3 BILLION in purchasing luxury homes andn condos in Greater Miami. As a result, we've seen a dramatic drop in
Miami Beach's premier waterfront home and condo inventory. The most searched and sought-after Miami Beach waterfront homes are in the luxury island communities of Palm, Star, Hibiscus, Sunset Islands I - IV, and the Venetian Island Chain that links Miami with Miami Beach. The highest priced condo buildings are The Continuum on South Beach, Apogee Miami Beach, The IL Villaggio (directly on Ocean Drive), The Bath Club (North Beach area), and The Setai Condo/Hotel on Collins Avenue.

Given the strong anti-development sentiment and building regulations in Miami Beach, the future supply of premier waterfront homes and condos in Miami Beach will continue to be VERY limited. Combined with an amazing city and beach lifestyle, I believe that high net worth foreign cash buyers to will continue to invest in Miami Beach luxury homes and condos in premier locations. Therefore, I'm convinced that in 2012 we will see strong price appreciation for premier waterfront Miami Beach homes and condos.

Below are the Top 21 Closed Sales of Miami Beach Homes and Condos for the Final Quarter of 2011:

A quick summary of what's been happening in Miami Beach's condo market in 2011, especially for the premier waterfront luxury condo buildings built after 2001:

Over the past six months, the available Miami Beach condo inventory has drastically declined. As indicated in a recent Miami Herald Article (click for details), high net worth foreign & mostly cash buyers have been taking advantage of recent Miami Beach Real Estate price corrections by spending over $3 BILLION on SE Florida Real Estate in 2011. As a result, we've seen a dramatic drop in Miami Beach's condo listing inventory. Given the lack of (a.k.a. NONE LEFT) waterfront land, the existing Art Deco architectural protections and building restrictions, as well as highly restrictive regulatory and construction codes- the future supply of premier waterfront condos in Miami Beach will continue to be very limited.

Especially noteworthy for Miami Beach are the high $/Sq.Ft. closed sales prices in premier waterfront condo buildings such as The Setai, The Continuum on South Beach, Apogee South Beach, and the W Hotel/Condo Residences. The highest priced sale (in terms of $/Sq. Ft) for Miami Beach condos in 2011 were the following:

The Setai Miami Beach Penthouse Penthouse A for a staggering $3,463 /Sq.Ft. ($21,500,000)
The Continuum North Tower Condo #2101 for $1,674 /Sq.Ft. ($5,050,000)
Apogee Miami Beach Condo #1603 for $2,177 /Sq.Ft. (6,000,000)
The W Condo/Hotel Residence Upper Penthouse #3 for $2,142 / Sq.Ft. ($5,200,000)

Below are the past six months Sales Statistics for Miami Beach Luxury Condos (South Beach zip code 33139):

The Continuum South Beach Condos have all of the amenities and features of a five star resort.The Continuum also happens to be located in THE best Oceanfront location in all of Miami Beach- at the extreme Southeastern tip of South Beach. This makes The Continuum a popular destination for visitors and notables from around the world, including many Hollywood celebrities.

While exercising at The Continuum's Sporting Club recently, I noticed that working out right next to me was none other than Ryan Seacrest (who's in excellent shape and works out HARD!). Ryan has been spotted at The Wall Nightclub in Miami Beach, and is known to enjoy the many attractions that Miami Beach has to offer.

The Continuum's Sporting Club recently underwent extensive renovations to the Men's and Women's locker room / private Spa areas, as well as acquiring all-new fitness equipment. Brand new cardiovascular machines, weight machines, and various other upgrades were recently completed. The Sporting Club @ Continuum is now a world class fitness center- available exclusively to residents and guests of The Continuum Condominiums.

The Continuum South Tower common area renovations have also been completed (see pictures below). The new South Tower lobby and condo building common areas look amazing! The Continuum South Tower is now on a par, if not exceeding, the highest luxury and decor standards set by nearby South of Fifth luxury condo buildings- such as Apogee, The Murano at Portofino, and Icon South Beach.

Miami Beach Condos- Seven Days Closed Sales Stats

As we begin the fourth quarter of 2011, we are continuing to see incredibly strong demand for Miami Beach waterfront condos. In Miami Beach's South of Fifth neighborhood, my team and I do not detect any slowdown in sales momentum. Despite a much lower condo listing inventory in Miami Beach's South of Fifth neighborhood, there continues to be strong buyer activity and demand. The snapshot of Miami Beach's condo stats below shows closed sales of the past SEVEN days for Miami Beach condos. This represents condos sold for above $500,000 for zip codes 33139, 33140, and 33141. The seven days closed sales average of listed & sold condo prices are highlighted at the very bottom of this blog post. I previously highlighted the past ninety days of Miami Beach condos closed sales, which makes this seven day sales snapshot (during Miami Beach's "low" Fall season) particularly impressive!

In Miami Beach's South of Fifth condo market, I've highlighted the latest Continuum South Beach three bedroom direct oceanfront condo sale which closed for $1,400/S.F. The physical address of this condo is located at 100 South Pointe Drive #3004, Miami Beach, 33139. This latest Continuum condo sale represents a premium of 10% ABOVE the average closed sales prices. There are two other IDENTICAL condos that sold in April, 2011 (#1103 and #3204) for an average price of $3,060,000. For both homes and condos, this trend is another example of the strength, and continuing price recovery, of Miami Beach's real estate market.

Miami Beach Condo Sales Latest Update

I'm providing our readers the latest sales update for Miami Beach condos that have been sold over the past ninety days for a minimum of $500,000 and above. A few highlights from the Miami Beach condos sales data at the bottom of this post:

- We're witnessing the most active luxury condo market in over five years. The number of closed sales transactions has jumped almost 20%!

- Nearly 70% of purchases / Miami Beach condos closed sales were cash transactions. High end condo sales defined the market, all price indicators jumped in this subsection of the overall Miami Beach condo market.

- The majority of purchasers can be divided into two groups- High net worth foreign buyers and high net worth buyers from the Northeastern U.S. (primarily New York metropolitan area).

- The average price per square foot has increased dramatically for high demand waterfront luxury condo buildings in the premier areas of Miami Beach, such as the South of Fifth neighborhood and in select Oceanfront luxury buildings.

The average sales price (per square foot) for these specific ultra-luxury South Beach condos buildings are listed below. Sales data is based on year-to-date Miami Beach condos closed sales of over $1 Million Dollars:

South of Fifth Specific Condo Buildings

Apogee South Beach Condos: $1,713 / S.F. (Average Sales Price = $7,174,000)
The Continuum on South Beach (North and South Towers): $1,404 / S.F. (Average Sales Price = $5,056,000)
The Murano at Portofino: $853 / S.F. (Average Sales Price = $2,166,000)
Icon South Beach: $744 / S.F. (Average Sales Price = $1,860,000)
The Murano Grande: $694 / S.F. (Average Sales Price = $1,727,100)
The Portofino Tower Miami Beach: $628 / S.F. (Average Sales Price = $1,413)

Miami Beach's Boutique Ultra-Luxury Condo Building on Ocean Drive:
The Il Villaggio South Beach: $1,025 / S.F. (Average Sales Price = $2,037)

Miami Beach Condos Sold (Past Ninety Days Closed Sales)

In Miami Beach's South of Fifth Neighborhood, The Continuum South Tower lobby is nearing completion of a much needed common area remodeling and facelift. The Continuum South Tower condo was completed in late 2001, and the lobby and common areas were starting to look a bit dated. Especially when compared to competing nearby South of Fifth luxury waterfront buildings - such as Apogee, The Murano at Portofino, and The Continuum North Tower (completed in 2006)- the first impression of lobby common areas was less than impressive.

The Continuum South Tower renovation and complete updating (including upstairs party room and entry lobby and stairwell) have been designed by the renowned Pepe Calderin Design firm of Miami. No attention to detail and expense was spared- with the goal being to elevate the South Tower lobby & common areas to be competitive with the surrounding ultra-luxury condo buildings of South Pointe / South of Fifth.

Below are recent pictures of the remodeling progress thus far- visible are the southern lobby, elevator entry ways, and mailbox areas. Note the beautiful, rich woodwork and attention to detail of the stone walls. The new look will add a contemporary feel to the South Tower, as well as bringing this Miami Beach condo building on a par (at the very least) with the other nearby South Pointe area buildings in Miami Beach's South of Fifth Neighborhood.

Miami Beach Condominiums- Latest Sales Data as of 8/6/2011

Closing Date	Address	Mami Beach Condo	List Price	Living Area	LP$/SqFt	Sold Price
8/1/2011	1455 OCEAN DR # 1003	Il Villaggio Condominium	$2,169,000	1,550	$1,399	$1,750,000
7/28/2011	5025 COLLINS AV # 805	Capobella	$1,500,000	2,060	$728	$1,250,000
7/28/2011	5025 COLLINS AV # 2308	Capobella	$1,190,000	1,870	$636	$1,020,000
7/26/2011	5959 COLLINS AV # 704	The Bath Club	$2,595,000	3,982	$652	$2,375,000
7/25/2011	5959 COLLINS AV # 3002	THE BATH CLUB	$6,900,000	5,700	$1,211	$5,700,000
7/20/2011	101 20 st # 3108	The Setai	$2,580,000	1,141	$2,261	$2,600,000
7/19/2011	100 S POINTE DR # 2209	Continuum	$2,325,000	2,122	$1,096	$2,200,000
7/19/2011	6301 COLLINS AV # 1601	LA GORCE PALACE	$720,000	1,744	$413	$700,000
7/18/2011	6365 COLLINS AV # 1103	AKOYA CONDO	$950,000	1,761	$539	$920,000
7/14/2011	2201 Collins Ave # UPH6	W South Beach Residences	$6,500,000	2,352	$2,764	$6,120,400
7/14/2011	101 20 ST # 3006	Setai	$2,200,000	1,316	$1,672	$1,900,000
7/14/2011	400 S POINTE DR # 1009	SOUTH POINTE TOWER COND I	$779,900	1,279	$610	$772,500
7/12/2011	101 20 ST # 2801	Setai	$1,990,000	1,198	$1,661	$1,700,000
7/12/2011	450 ALTON RD # 3004	ICON SOUTH BEACH	$980,000	1,536	$638	$900,000
7/8/2011	50 S POINTE DR # 2704	CONTINUUM II	$3,500,000	2,173	$1,611	$3,500,000
7/8/2011	300 S POINTE DR # 1501	PORTOFINO TOWERS	$1,690,000	2,340	$722	$1,625,000
7/7/2011	1445 16 ST # B402	CAPRI SOUTH BEACH	$1,623,300	1,842	$881	$1,623,300
7/7/2011	1445 16 ST # UP5	CAPRI	$990,000	1,396	$709	$935,000
7/6/2011	450 ALTON RD # 2603	ICON	$1,600,000	2,158	$741	$1,309,500
7/6/2011	50 S POINTE DR # 1206	CONTINUUM NORTH TOWER	$1,595,000	1,698	$939	$1,400,000
7/5/2011	6010 AQUA PA # 6010	AQUA AT ALLISON	$1,350,000	4,071	$332	$1,285,000
7/5/2011	400 S POINTE DR # 901	SOUTH POINTE TOWER	$850,000	1,165	$730	$825,000
7/1/2011	400 ALTON RD # 3101	Murano Grande	$3,495,000	3,979	$878	$3,400,000
7/1/2011	3737 COLLINS AV # S-601	Caribbean	$1,699,000	1,837	$925	$1,525,000
7/1/2011	6899 COLLINS AVE # 1505	CANYON RANCH MIAMI BEACH	$999,000	1,290	$774	$950,000
6/30/2011	210 ZOE WY # 210	AQUA AT ALLISON ISLANS	$2,200,000	4,387	$501	$1,850,000
6/30/2011	100 S POINTE DR # 2509	CONTINUUM SOUTH TOWER	$2,250,000	2,122	$1,060	$2,122,000
6/30/2011	50 S POINTE DR # 1205	Continuum on South Beach	$1,550,000	1,698	$913	$1,450,000
6/30/2011	10 VENETIAN WY # 2204	THE GRAND VENETIAN	$1,850,000	2,345	$789	$1,587,500
6/30/2011	100 S POINTE DR # 1406	Continuum on South Beach	$3,750,000	2,508	$1,495	$3,400,000
6/28/2011	4775 COLLINS AV # 1707	GREEN DIAMOND	$724,900	1,380	$525	$721,000
6/28/2011	300 S POINTE DR # PH4206	PORTOFINO TOWERS	$2,275,000	2,040	$1,115	$1,750,000
6/28/2011	450 ALTON RD # 3107	Icon South Beach	$1,499,000	1,815	$826	$1,440,000
6/28/2011	4779 COLLINS AV # 1407	Blue Diamond Condo	$729,000	1,380	$528	$730,000
6/27/2011	50 S POINTE DR # 1906	CONTINUUM ON SOUTH BEACH	$2,005,000	1,698	$1,181	$1,700,000
6/27/2011	5959 Collins Avenue # 1808	THE BATH CLUB	$849,000	1,904	$446	$806,500
6/27/2011	50 S POINTE DR # 2802	CONTINUUM NORTH TOWER	$3,999,999	2,621	$1,526	$3,836,000
6/27/2011	90 ALTON RD # 2901	Yacht Club at Portofino	$725,000	1,130	$642	$700,000
6/27/2011	50 S POINTE DR # 2502	CONTINUUM ON SOUTH BEACH	$4,431,000	3,017	$1,469	$3,850,000
6/24/2011	5025 COLLINS AV # 2307	CAPOBELLA	$1,050,000	1,750	$600	$870,000
6/24/2011	5801 COLLINS AV # 1000	Villa Di Mare	$2,400,000	4,599	$522	$2,400,000
6/22/2011	6899 COLLINS AV # 901	CANYON RANCH	$1,100,000	1,565	$703	$950,000
6/22/2011	6899 COLLINS AV # 1402	CANYON RANCH	$1,755,000	2,050	$856	$1,755,000
6/21/2011	16 ISLAND AV # 1A	Belle Towers	$799,000	1,700	$470	$720,000
6/21/2011	450 ALTON RD # 2504	ICON South Beach	$950,000	1,536	$618	$845,000
6/21/2011	1000 S POINTE DR # 902	Murano at Prtofino	$2,399,000	2,618	$916	$2,215,000
6/20/2011	800 S POINTE DR # 1404	APOGEE CONDO	$7,990,000	4,154	$1,923	$7,350,000
6/17/2011	6899 COLLINS AV # 802	CANYON RANCH	$1,345,000	2,050	$656	$1,200,000
6/16/2011	450 ALTON RD # 1801/3	ICON CONDOMINIUM	$3,900,000	4,303	$906	$3,400,000
6/16/2011	400 S POINTE DR # 510	South Pointe Tower	$725,000	1,559	$465	$700,000
6/13/2011	4775 COLLINS AV # 3104	GREEN DIAMOND CONDO	$825,000	1,550	$532	$780,000
6/13/2011	6365 COLLINS AV # 2703	AKOYA	$1,150,000	1,761	$653	$1,075,000
6/13/2011	100 S POINTE DR # 601	CONTINUUM SOUTH BEACH	$1,490,000	1,591	$937	$1,379,000
6/10/2011	6103 AQUA AV # 504	Spear at Aqua	$799,000	2,752	$290	$767,000
6/10/2011	100 S POINTE DR # 2106	Continuum South Tower	$3,850,000	2,508	$1,535	$3,800,000
6/10/2011	6365 COLLINS AV # 3701	AKOYA	$1,047,000	1,761	$595	$990,000
6/9/2011	458 OCEAN DR # 501	Ocean Five	$700,000	1,118	$626	$675,000
6/9/2011	2201 COLLINS AV # 1229	W South Beach Residence	$1,700,000	1,054	$1,613	$1,560,000
6/8/2011	400 ALTON RD # 1910	Murano Grande At Portofin	$1,130,000	1,548	$730	$1,080,000
6/6/2011	300 S POINTE DR # 605	PORTOFINO TOWER	$1,250,000	2,340	$534	$950,000
6/6/2011	6899 COLLINS AV # 1403	CANYON RANCH	$830,000	1,280	$648	$725,000
6/6/2011	6799 COLLINS AV # S304	CANYON RANCH SOUTH TOWER	$1,549,000	2,165	$715	$1,375,000
6/6/2011	800 S POINTE DR # 1803	Apogee	$5,400,000	2,756	$1,959	$4,900,000
6/3/2011	450 ALTON RD # 804	ICON South Beach	$719,000	1,536	$468	$697,500
6/3/2011	1900 SUNSET HARBOUR DR # 1808	Sunset Harbour North	$825,000	1,550	$532	$750,000
6/2/2011	50 S POINTE # 2101	continuum	$5,299,000	3,017	$1,756	$5,050,000
6/2/2011	1000 POINTE DR # 608	MURANO AT PORTOFINO	$1,090,000	1,791	$609	$935,000
5/31/2011	450 ALTON RD # 2802	ICON South Beach	$1,350,000	1,933	$698	$1,275,000
5/26/2011	1000 S POINTE DR # 901	Murano At Portofino	$3,800,000	3,365	$1,129	$3,500,000
5/25/2011	4775 COLLINS AV # 2101	GREEN DIAMOND CONDO	$1,240,000	2,010	$617	$1,240,000
5/25/2011	1900 SUNSET HARBOUR DR # 2302/4	SUNSET HARBOR	$1,195,000	2,350	$509	$1,050,000
5/23/2011	4775 COLLINS AV # 1802	GREEN DIAMOND	$999,000	1,530	$653	$890,000
5/23/2011	3801 COLLINS AV # 1104	Mosaic	$775,000	1,212	$639	$720,000
5/23/2011	450 ALTON RD # 1701	ICON South Beach	$1,695,000	2,145	$790	$1,650,000
5/20/2011	4775 COLLINS AV # 2804	Green Diamond Condo	$775,000	1,490	$520	$750,000
5/20/2011	4391 COLLINS AVENUE # 1414	FONTAINEBLEAU IIISORRENTO	$899,000	992	$906	$825,000
5/20/2011	4779 COLLINS AV # 1704	Blue Diamond Condo	$745,000	1,550	$481	$710,000
5/19/2011	400 ALTON RD # 1602	MURANO GRANDE	$899,000	1,874	$480	$825,000
5/19/2011	9 ISLAND AV # T5	NINE ISLAND AVENUE CONDO	$825,000	2,109	$391	$720,000
5/18/2011	300 S POINTE DR # 403	PORTOFINO	$1,295,000	2,340	$553	$1,188,000
5/18/2011	400 S POINTE DR # 1705	SOUTH POINTE TOWER	$700,000	1,042	$672	$680,000
5/18/2011	4775 COLLINS AV # 2504	GREEN DIAMOND CONDO	$949,000	1,550	$612	$815,000
5/17/2011	50 S POINTE DR # 2201	CONTINUUM NORTH TOWER	$4,500,000	3,017	$1,492	$4,050,000
5/17/2011	400 S POINTE DR # 1910	SOUTH POINTE TOWER	$990,000	1,559	$635	$926,000
5/16/2011	50 S POINTE DR # 1704	Continuum On South Beach	$1,345,000	1,491	$902	$1,300,000
5/16/2011	450 ALTON RD # 1703	ICON South Beach	$1,895,000	2,158	$878	$1,655,000
5/12/2011	125 JEFFERSON AV # 146	THE COURTS AT SOUTH BEACH	$749,000	1,485	$504	$719,000
5/11/2011	1000 VENETIAN WY # 1202	One Thousand Venetian	$1,099,000	2,010	$547	$950,000
5/11/2011	101 20 ST # 2506	The Setai	$1,690,000	1,316	$1,284	$1,540,000
5/10/2011	100 S POINTE DR # 3207	Continuum South Beach	$4,500,000	2,954	$1,523	$4,000,000
5/10/2011	100 S POINTE DR # 3604-3	Continuum South Tower	$13,500,000	6,438	$2,097	$10,576,000
5/9/2011	4775 COLLINS AV # 2607	green diamond	$780,000	1,380	$565	$730,000
5/9/2011	101 20 ST # 3206	SETAI	$2,150,000	1,316	$1,634	$1,930,000
5/9/2011	4775 COLLINS AV # 3605	GREEN DIAMOND	$895,000	1,380	$649	$825,000
5/9/2011	101 20 ST # 2104	The Setai	$1,049,000	1,162	$903	$980,000
5/9/2011	1000 S POINTE DR # 2502	MURANO AT PORTOFINO	$2,550,000	2,618	$974	$2,400,000
5/9/2011	6899 COLLINS AV # 907	CANYON RANCH	$1,020,000	1,565	$652	$958,000
5/6/2011	450 ALTON RD # 1503/4	ICON Condo	$2,799,000	3,694	$758	$2,550,000
5/6/2011	4775 COLLINS AV # 2607	green diamond	$780,000	1,380	$565	$760,000

Miami Beach's latest ultra-luxury condo sales are indicative of a segment of the Miami Beach real estate market that's made an incredible sales comeback in 2011.Miami Beach's waterfront condo market is on fire, especially for direct waterfront premier condominiums in the Apogee and Continuum condo buildings in Miami Beach's South of Fifth Neighborhood. In the past few weeks, we have seen South Beach Condo sales that approach the price points not seen since the real estate market high's prior to 2007.

Many high net worth and especially international buyers are seeking premier, contemporary, and direct waterfront luxury condos such as the twelve acre Continuum on South Beach and the Apogee condos in Miami Beach. The Continuum is a twelve acre direct Oceanfront resort-type condo with unrivaled amenities for residents and their guests. Apogee was built as a boutique condo building, in a premier location across from Fisher Island and "cruise ship alley" with each individual condominium the equivalent of an estate in the sky.

Particularly noteworthy are the premium prices that are being commanded for the larger, more unique ultra-luxury condominiums in these buildings. For example the Apogee Penthouse that closed on April 14, 2011, has two stories and over 6,800 S.F of living space, plus a private rooftop pool. This incredible one of a kind Estate in the Sky was marketed for over one year, and sold for an impressive $1,678/S.F. Also, the equally unique and beautiful combined 3604/03 condos at The Continuum South Beach, with panoramic views of the Atlantic Ocean, Downtown Miami, Fisher Island, and the City of Miami Beach sold for an incredible $1,643/ Square Ft. !

Below are the Continuum and Apogee Condominium closed sales from the past 60 days:

The past four months of miami beach condo sales have been impressive, continuing to buck national real estate trends. Miami Beach real estate, especially for premier condo buildings in South Beach's highly desired South of Fifth neighborhood, continues to be in strong demand.

As the Spring / Winter season in Miami Beach comes to an end, we are continuing to see strong buyer demand for premier waterfront homes and condos. Especially in the premier waterfront luxury condo buildings, such as The Murano at Portofino, Continuum North and South Towers, Icon South Beach, Apogee, and The Il Villagio demand is outpacing supply causing condo price appreciation!Further North, along Collins Avenue, premier Oceanfront buildings such as The Setai, The Bath Club, The Akoya, and The Blue and Green Diamond condo buildings have seen impressive sales momentum in the 2010 - 2011 selling season.

Indeed, overall Miami Beach condo sales have been SO strong, that we've had many frustrated Buyers decide to purchase condos which were further down on their list desired preferences / amenities. We've had several of our top clients decide to purchase waterfront condos in Miami Beach that require extensive remodelling, since they were outbid for the premier Miami Beach corner condos with direct Oceanfront and/or Biscayne Bay views.

The last ninety days of $1 Million + Waterfront Miami Beach Condo Sales for zip codes 33139 and 33140:

This past week, I had the opportunity to work with well qualified (cash) buyers looking to purchase a waterfront two bedroom condominium in Miami Beach's South of Fifth neighborhood. These specific clients have been looking for just the "right" deal and have had approximately eight of their top choices sold in the past three months. Their budget is in from $1 Million to $1.5 Million, and six months ago their were quite a few choices in the Portofino Tower, The Continuum North and South Towers, the Murano at Portofino, The Murano Grande and Icon with direct water views. Today, the choices at Icon and The Murano Grande are very limited, and practically non-existent in this price range (with water views) at The Continuum Condos on South Beach and at The Murano at Portofino. The Portofino Tower still has a few distressed units available, but only on the less desireable lower floors with very limited views of Miami Beach.

These clients have now widened their criteria, and today they told me that they've grown tired of "chasing the market". This is the first time, in a long time, that I've heard this term applied in a way that demonstrates a market that is challenging for BUYERS.

The Last 90 Days of Closed Sales - South Beach Waterfront Condominiums:

In the past ninety days, sales of waterfront Miami Beach Homes and Condos have seen impressive activity. Miami Beach’s real estate market is very active, especially when waterfront properties are priced right. As always, especially since the real estate market turned in late 2007 to today’s waterfront homeowners is to price your property right- from the beginning of the sales process. Also, it’s critical that owners in the highly sought after waterfront condo buildings South of Fifth Street- such as The Murano at Portofino, The Continuum on South Beach, The Portofino Tower, Apogee, Icon South Beach, and The Murano Grande work with professional, responsible, and experienced sales agents that understand the Miami Beach real estate market. Today's listing agent needs to have a comprehensive marketing plan for homesellers, one that goes far beyond just listing a property on the multiple listing service.

NOTICE to condominium owners in South Beach luxury waterfront buildings- I have represented many high net worth buyers that have purchased in the above referenced condo buildings recently. I continue to be shocked by the overall lack of professionalism, inattention to detail, overall sloppiness, and poor representation that many of these Miami Beach condo sellers are enduring. Unfortunately, this lack of professionalism (and non-existent marketing) ends up costing these Miami Beach condominium owners dearly. Not only do these condos sit on the active market for far too long, but the purchase prices undoubtedly end up being far lower. The usual end result is that the listing agent urges the owner to reduce the price due to a "lack of interest" from qualified buyers.

The vast majority of today’s buyers are high net worth individuals, ALL of whom are looking to get a reasonable deal and expect a minimal level of service and professionalism from the agents that they work with. Today’s Miami Beach real estate buyers, whether looking to spend $500,000 or $5,000,000 + are well informed, well qualified, and with substantial liquid cash reserves. This means that owners have to cater to this limited supply of well qualified (and mostly cash) buyers.

The Latest Miami Beach Condos & Homes Sales for zip codes 33139, 33140, and 33141: