Miami’s luxury housing market shows clear signs of a slowdown. High-end homes take 24 more days to sell than they did a year ago. According to Redfin, this is the biggest slowdown among the major metros.
Across the city, the median home price is $652,110, and properties now spend an average of 113 days on the market before closing, up from 100 last year.
The contrast is clear across Miami’s condo market. New developments highlight luxury amenities such as floor-to-ceiling windows, chef’s kitchens, and rooftop pools. Older buildings face price pressure as buyers gain more choices…