Miami Beach

Miami Beach

Real Estate Statistics for Miami Beach, FL

If there’s one city that best encapsulates the idea of resort-style, oceanfront living, it would have to be Miami Beach.

Considered by many to be America’s answer to the French Riviera, Miami Beach is known for its top-tier real estate options as well as the colorful and culturally rich lifestyle it offers. Its palm tree-lined beaches and beautiful collection of architectural eye candies attract international tourists and investors all year round.

Planning on calling this slice of Florida home? Continue reading as we lay out everything there is to know about Miami Beach.

MIAMI BEACH HISTORY IN A NUTSHELL

Miami Beach’s can be traced back to the late 19th century. Henry and Charles Lum, who were father and son, set sail from Key West and to a sandbar island. There, they camped surrounded by mangroves. The experience must have been profound, for the Lums decided to purchase most of the island for $.25 an acre. They didn’t hold on to the sandbar, however, and the ownership of the island changed hands until it landed on John S. Collins and Thomas Pancoast.

It was the Collins family that saw Miami Beach’s potential as a world-class resort. And so, the Collinses and Carl G. Fisher began the great work in 1912. Boggy, undeveloped mangrove swamps and coconut plantations were turned into beautiful havens for both luxury and leisure.

The Roaring 20s fueled enormous growth in the city; vestiges of it remain in the form of Miami Beach’s famous Art Deco District. More Latin flavor poured into the city and the rest of South Florida, a period that left an indelible mark on Miami Beach’s rich cultural tapestry

Miami Beach today

Miami Beach of the 21st century is a colorful community of over 80,000 residents. It covers a total area of over 15 sq. mi. Half of the city is water, enabling residents to enjoy ample opportunities for water-based recreation. Stunning views abound almost everywhere you look.

Compared to its neighbor Miami, Miami Beach is more laid-back and relaxed. The city is divided into three districts: South Beach, Mid-Isle, and North Beach. Fine dining options line Miami Beach’s city streets, along with legendary nightlife haunts, upscale spas and wellness centers, community pools, and over 40 public parks.

LUXURY HOMES FOR SALE IN MIAMI BEACH, FL

Miami Beach, FL’s residential real estate market offers an impressive selection of luxury waterfront properties, most of which can be found in the city’s high-demand neighborhoods.

At present, the median listing home price in Miami Beach, FL is pegged at $710,000, reflecting an increase of 2.9% year-over-year. Prices for luxury homes for sale in Miami Beach, however, tend to start at $3.6 million, with some properties selling for as much as $80 million.

Browse our collection of luxury homes for sale in Miami Beach here.

Miami Beach real estate: What to expect

Luxury homes for sale in Miami Beach, FL typically come in three types: luxury estates, condos, and single-family homes. Given the city’s location, many of these properties enjoy waterfront locations. Some even offer direct water access. Some of the neighborhoods to explore include Ocean Drive, Bayshore, Biscayne Point, Fisher Island, and La Gorce Island.

High-rise condominiums are the second most prevalent housing option in Miami Beach. These condos often feature high-end fittings and appliances, as well as white-glove, concierge-style service. Some of the most in-demand condominiums in Miami Beach include:

• Continuum on South Beach

• Eighty Seven Park

• 1 Homes South Beach

• Faena House

• Apogee

• 57 Ocean

• La Gorce Palace

• Akoya

Popular architectural styles in Miami Beach

While the city is well-known for its Art Deco District, plenty of luxury homes for sale in Miami Beach, FL are built in a variety of architectural styles. These include:

• Spanish Revival, which are distinguishable by signature elements such as red-tiled roofs, stucco exteriors, and ornate details. Luxury homes for sale in Miami Beach, FL in this style also tend to feature arched doorways and romantic inner courtyards.

• Bahamian, also known as Conch-style architecture, made its merry way to Miami Beach from Key West as it easily fits with the local climate. These properties often have balustraded front porches that function as additional living spaces. Posts or piers support the foundation and allow for even ventilation beneath the house.

• Tropical Modernism became popular in the 1950s. The style incorporates open spaces, large windows, and natural materials. Other features include flat roofs, lush gardens, and indoor-outdoor living areas, creating a seamless connection with the tropical surroundings.

• Mid-century Modern also took a hold of Miami Beach between the 1940s and 1960s. Clean lines, simple designs, and a focus on functionality are some of its defining features, along with flat planes, and sleek, low footprints. It’s also common for Mid-century Modern properties to use natural materials such as wood, stone, glass, and brick.

• Miami Modern, also referred to as MiMo, is a regional style of architecture that developed in South Florida during the post-war period. Considered an offshoot of the Art Deco movement, this style can be most observed today along Collins Avenue as well the Biscayne Boulevard corridor. Homes built in this style can be recognized by their liberal use of glamorous interior motifs, geometric patterns, nautical themes, and a bright color palette that usually includes shades of burnt orange and teal.

LIVING IN MIAMI BEACH

Buying a luxury home in Miami Beach means you get to live in the city that best encapsulates the idea of oceanfront living. Continue reading as we break down what makes this city an attractive prospect for anyone seeking a sun-kissed, culturally rich, and dynamic place to call home.

• Miami Beach has a laid-back lifestyle. One of the biggest draws of Miami Beach is that it offers the perks of a cosmopolitan city without eschewing the brand of laidback lifestyle associated with a beachside community. Residents enjoy water sports or quiet walks on the shore, while Miami Beach’s selection of clubs, bars, and entertainment venues create a dynamic nightlife scene.

• Miami Beach is home to top-performing schools. The educational landscape in Miami Beach consists of trusted public, private, and charter schools. The city’s public schools– such as Miami Beach Senior High and North Beach Elementary– are managed by Miami-Dade County Public Schools. Private options in the area include Casa Dei Bambini Montessori School, St. Patrick Catholic School, and Mater Beach Academy. As for higher education, Miami Beach is conveniently located near the campuses of renowned universities and colleges such as Franklin University, University of Miami, and Barry University.

• Miami Beach is home to a wealth of attractions. Miami Beach is a treasure trove of attractions that cater to diverse tastes. The city’s iconic Art Deco Historic District and the acclaimed South Beach, for instance, showcase the area’s architectural and cultural significance. On the other hand, museums, galleries, and cultural institutions like The Bass, The Wolfsonian-FIU, and the Miami Beach Botanical Garden offer a feast for the mind and soul. The city’s beaches are not just for sunbathing; they serve as hubs for various water sports and activities, inviting thrill-seekers and relaxation enthusiasts alike.

• Miami Beach is close to various outdoor recreation spots. The Everglades National Park is only about 50 miles from Miami Beach. Spanning 1.5 million acres, it’s an amazing place for those who love hiking, biking, canoeing, and wildlife observation. Biscayne National Park, the largest marine sanctuary in the U.S. National Parks system, is also accessible from Miami Beach. Covering an area of about 173,000 acres and boasting unmatched biodiversity, visitors can go boating, swimming, snorkeling, and diving.

  Fans of golf will be pleased to know thatMiami Beach has access to some of the best golf courses and country clubs in Florida. First among these is the eponymous Miami Beach Golf Club at Alton Road. First opened in 1923, this historic 18-hole, 72-par club has everything a golfer—pro or otherwise—could ever want, including a full-service restaurant and a fully-stocked pro shop. Normandy Shores Golf Club is another local option. Opened in 1941, this Arthur Hills-designed course has seen its fair share of action, having served as the stomping grounds for iconic players such as Sam Snead, Arnold Palmer, and Peter Thompson.

• Miami Beach has an exciting fine dining scene. Residents and visitors alike are drawn to Miami Beach’s eclectic dining scene, which features a fusion of international flavors and innovative culinary experiences. Must-visit restaurants include Macchialina, a lovely South Beach tavern that serves classic Italian dishes like slow-simmered polenta, short-rib lasagna made with homemade pasta, and creamy burrata served with pickled aubergines. Another go-to restaurant in Miami Beach is Sushi | Bar. Located at the boutique Esmé Hotel along Washington Avenue, this intimate omakase spot takes pride in its extensive menu, which makes use of the local fish and flavors.

  For a more casual dining experience, drop by Joliet along 17th St. A seafood bistro, Joliet has a laid-back vibe and comfortable ambiance, perfectly complementing its Cajun and low-country-inspired food and drink menu. Some of their must-try offerings include seared scallops, fish crudo, New Orleans-style barbecued prawns, gumbo, jambalaya, and grilled short ribs, all of which pair beautifully with their selection of handcrafted cocktails.

  Those who are craving classic Lebanese fare, on the other hand, will do well to check out Byblos Miami. Located near the Royal Palm Hotel on Collins Avenue, Byblos Miami specializes in Eastern Mediterranean cuisine, its menu filled with authentic Levantine specialties such as sumac-braised roasted lamb shoulder, kibbeh, and wood-fired pide. Aside from its selection of classic Levantine and other Eastern Mediterranean dishes—all served family-style—Byblos Miami also takes pride in its unique drink offerings, such as its tableside spirit-infused cold tea trolley.

  Lovers of upscale and glamorous dining will enjoy the selections at Amalia at the Lennox Hotel. Helmed by Chef Hernan Griccini, Amalia takes pride in its eclectic menu that showcases Italian classics mixed with Argentine and Moroccan influences. Food at Amalia are made from farm-fresh produce and herbs as well as locally sourced meats and seafood. Already a Miami Beach favorite despite being a relative newcomer, Amalia’s best dishes include their Angus tenderloin steak frites, Italian burrata, roasted octopus, grilled branzino, and French lamb chops. Don’t forget to cap off your meal with their signature desserts such as classic arroz con leche and pineapple tarte tatin.

• Miami Beach is a shopper’s paradise. Miami Beach is also a mecca for world-class shopping. Some of the best shopping destinations in this city include Lincoln Road, a 10-block retail destination designed by the world-famous Art Deco architect Morris Lapidus. Spanning the entire length between Washington Avenue and Alton Road, this is home to over 120 stores. These include favorites such as Anthropology, Intermix, Nike, CB2, and H&M, as well as upscale department store Macys. During fall and winter, Lincoln Road also plays host to various open-air markets like the Lincoln Road Antique and Collectibles Market and the Urbanspace Lincoln Road Holiday Market, during which shoppers can purchase everything from artisanal food and stationery to toys and apparel.

  Just a few steps from Lincoln Road lies Sunset Harbour. A tiny yet trendy area, Sunset Harbour is home to some of the trendiest independent stores, including homegrown lingerie and swimwear brand Eberjey, as well as Beach Boutique, which owner Patricia Costa stocks with items from labels like Rachel Comey, Nili Lotan, and Ulla Johnson.

  Ocean Drive, one of the most famous streets in Miami Beach, is also a shopping destination in its own right. It has everything, from small, independent boutiques to designer outlets and national retailers. Such a diverse selection makes Ocean Drive a must-visit destination for serious and casual shoppers alike.

  The Webster in South Beach features 20,000 sq. ft. of high-end designer shopping. Here, you can check out the latest styles from labels such as Tom Ford, Balenciaga, Chanel, Miu Miu, Gucci, and Balenciaga, Vetements, Jacquemus, Mugler, and Paco Rabanne.

MOST ASKED QUESTIONS ABOUT MIAMI BEACH

Are real estate prices dropping in Miami Beach, FL? Prices for residential properties in Miami Beach have remained stable for the last few years, making them extremely attractive to people looking to invest in the area’s real estate. That said, buyers and sellers can try working with a knowledgeable local Realtor to help them reach their desired results.

Is Miami Beach, FL expensive to live in? Because of its waterfront location, vibrant culture, and tourist appeal, Miami Beach has a relatively high cost of living. Current statistics suggest that living in Miami Beach costs 39% more than the national average. Geographic limitations play a significant role in the pricing of Miami Beach real estate. Utilities and transportation are also higher than the national average. On the bright side, Florida residents don’t have to pay income and estate taxes.

Is Miami Beach, FL a good place to invest? Given its beautiful beaches and myriad other attractions, Miami Beach has a thriving tourism industry that draws millions of visitors from around the globe each year. This translates to a consistently high demand for rental properties and vacation homes, making it a lucrative spot for real estate investment.

Not only that, but the housing market in Miami Beach, FL has historically shown resilience. Property values in the area have steadily appreciated over time– and continue to do so. Investors and homebuyers can expect to gain solid returns on their investments if they decide to sell or open their properties for short- or long-term rent.

JON KOTLER IS YOUR GUIDE TO MIAMI BEACH LUXURY REAL ESTATE

As you explore your opportunities in Miami Beach’s luxury real estate market, insights from a local expert will take you far. I’m Jon Kotler of Keller Williams Elite Properties, at your service. With 7+ years of industry experience, I can guide you to a successful real estate transaction in Miami Beach.

Ready to start exploring your luxury real estate options in Miami Beach? Schedule a private consultation by calling or sending me an email here.