Coldwell Banker International Previews Luxury market report | 2014 Edition 1

The 2014 Coldwell Banker International Previews Luxury Market Report is out, and three of South Florida’s cities are in the top twenty on the Luxury Market Index.

Coldwell Banker Previews International® is seeking to bring this level of knowledge to the luxury real estate sector with its first Luxury Market Index (LMI). The LMI compares activity in 50 luxury real estate markets across the United States.

No surprise, luxury markets located near the water are also exhibiting strength.

Nearly 70% of the markets at the top of the index are located near a body of water, whether it be an ocean, lake or river. “This tells us that luxury consumers tend to seek out properties in prime locations where they can enjoy water views,” notes Ginette Wright, vice president of Previews NRT.

One such waterfront destination—Florida’s Bal Harbour—ranked No. 2 on the index. Ideally set on the northern tip of Miami Beach, the small yet upscale village has attracted well-established affluents with its high-rise luxury condos and gorgeous beaches.

“Bal Harbour offers them so much—wonderful high-end Bal Harbour shops and condominiums with scenic views of the Atlantic,” says Clark W. Toole III, president of Coldwell Banker Residential Real Estate in Florida. “Also, when you look at the prices, we are seeing some double-digit appreciation—while prices are still not where they were at the peak. All of those things were working in Bal Harbour’s favor last year.”

With Coldwell Banker Previews International® and our Previews® specialists leading the way, the luxury real estate market experienced an impressive surge in 2013. Major growth in buyer interest along with the sheer volume of high-end sales set the stage for the year’s growth, and Previews’ numbers in particular demonstrated the depth of our contribution to the luxury space.

Our achievements include:
• Coldwell Banker Previews International Property Specialists participated in more than 20,000 transaction sides of homes priced at $1 million or more in 2013.
• On average, Coldwell Banker Previews International Property Specialists handle $102.7 million in luxury home sales every day.*
• In 2013, Coldwell Banker Previews International Property Specialists listed nearly 10,000 homes valued at more than $2 million.

To download the full 2014 Coldwell Banker International Previews Luxury Market pdf report, click here. To download your own free Miami Real Estate search app, text “Melanie Dawn” to 35620. For more information about real estate in the Miami area, or to connect with a real estate agent anywhere in the world, contact Melanie Dawn by text/phone at 305-801-3133, or by email at MelanieinMiami@gmail.com.