Miami Penthouses: Not for the Faint of Heart

Sept. 28, 2008 - PRLog -- The availability of Miami Penthouses is on the rise and the opportunity to find your dream "mansion in the sky" has never been better, there are currently 118 luxury penthouses (over $1M USD) currently on the market in the Miami-Dade area. And while the number of penthouses sold in the last 12 months is down when compared to the same time last year, the average sales price per square foot is actually higher. Here are some of
the interesting facts...

113 Miami Penthouses (over $1M USD) came on the market in the last 12 months,    compared to the 54 new Miami Penthouses in the prior 12 months.

Of these 167 penthouses which were listed in the past two years, 118 are still active, 45 have sold & 4 are pending sales.

While the number of closed sales of Miami Penthouses has decreased in the last 12 months from the prior 12 months from 46 to 28, the price per square foot has increased from $692 to $735.

Similarly, the closed sale average number of days on the market has decreased from 211 to 145.
 
These statistics do not take into account the number of units which were
 listed for sale but were terminated, withdrawn, expired, canceled or were otherwise
 taken off the market.

"From this data, it is my opinion that now is the best time to buy your dream penthouse, while prices are up slightly the amount of available penthouses may never be this high again!" - david koster

David Koster
David Koster, the creator of the Miami Penthouse Group http://www.miamipenthousegroup.com, is a licensed buyer's  broker specialist consulting in the acquisition of luxury condominiums in the South Florida area. He has successfully brokered millions of dollars of real estate transactions during his career. He is a licensed broker associate with Related Cervera Realty Services {RCRS}.
At Miami Penthouses, you will find the first website dedicated to South Florida Penthouses, the numbers speak for themselves.

RCRS
RCRS is responsible for the sales and marketing of many of South Florida most successful and prestigious projects from Miami to Palm Beach. The company represents some of the hottest developments, including The W and Apogee in South Beach, St Regis in Bal Harbour, Trump Hollywood and Ocean Four on Sunny Isles Beach.
Since its inception in 2000 has built a team of 150 agents and successfully brokered of 11,000 residences representing over $5 Billion in sales.

For more information, please visit http://www.miamipenthousegroup.com.

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The information presented in this article is for consumers' personal, non-commercial use and may not be used for any purpose other that to identify prospective properties consumers may be interested in purchasing.

RCRS recommends that buyers, sellers, and renters of real estate consult appropriate professionals for legal and other specialized advice. Information presented in this article is believed to be accurate but is not warranted nor guaranteed. Oral representation should not be considered valid. Information presented on this site may contain listings from both RCRS and other brokers who cooperate with RCRS.