Miami

Florida’s ultimate hot spot, Miami has always been known for its fiery combination of culture, scenery and style. With its spectacular white-sand beaches, world-renowned architecture and sizzling nightlife, it has been a long time playground destination, but it has also grown into a major cultural, economic and international financial centre as well. Miami’s real estate market is as diverse as its population and culture, popular with everyone from internationals, to boomers, to young professionals alike.


Read more about why so many people choose to purchase Miami real estate.

Beach chairs and umbrellas on beautiful Miami Beach Waterfront real estate in Miami Bridges over the ocean and city skyline in Miami Palm-line boulevard and condos in Miami Colorful Miami condos against a blue sky

Miami

About Miami

With a population of approximately 479,000, Miami is the third most populous metropolis on the East Coast of the US. It is incredibly diverse, with over 70% of its residents being of Hispanic or Latino descent.

Located at the southern tip of Florida on the Atlantic Coast, Miami and its suburbs are situated on a broad plain between the Everglades to the West, and Biscayne Bay to the east. Its average elevation is around 6ft above sea level in most neighborhoods.

The city is made of more than 36 communities and neighborhoods, each with its own unique identity. Some of the more commonly known areas include:

  • Northern Miami- Upper East Side, Buena Vista, Lemon City (Little Haiti)
  • Western Miami- Little Havana, West Flager, Flagami
  • Southern Miami- Coconut Grove, Coral Way
  • Downtown- Brickell
  • South Beach/Mid Beach/North Beach

Miami is one of the northernmost cities on earth with a Tropical Monsoon Climate. It features hot summers, and warmer, drier winters, due to the Gulf Stream running only 15 miles off of the coast.

Miami is a major center and leader in finance and trade. Downtown Miami has one of the largest concentrations of international banks in the US and is home to many large national and international companies.

The city is also a major tourism hub for international visitors, second in the country to only New York City. The Port of Miami is the busiest cruise port in the world in terms of both passenger traffic and cruise lines.

Miami, FL Real Estate

Miami boasts a housing economy as vibrant and diverse as its population and culture. It is one of the best American cities for real estate investment opportunities, with affordable properties averaging an 18.6 percent return year by year.

Opulent multi-million dollar luxury beach homes can be found at prices lower than markets like Los Angeles. Traditional locations like North Bay Road in Miami Beach offer the highest-end properties, with the sun, sea, and glamour one would expect. Offerings range from sleek, modern homes with open floor plans and soaring ceilings, to beautifully maintained, historical Mediterranean-revival style homes with lush landscaping.

South Miami is the most sought-after market for single-family homes, and families relocating to Miami. Areas like Coconut Grove, Coral Gables, Edgewater, and Ponce Davis are all highly sought-after due to their safe, family-friendly neighborhoods, and proximity to the best schools in the city. Bungalows are the most prevalent homes, in traditional Craftsman, Mission, and Bahamian styles.

The metro condo market is particularly attractive, with everything from luxury condos to affordable options for first-time homebuyers. High-rise condos are particularly prevalent in the downtown and South Miami areas of Brickell, Coral Gables, and Coconut Grove.

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Miami Amenities & Attractions

Known for its dynamic nightlife, spectacular white-sand beaches, and vibrant and diverse culture, there are endless amounts of things to do in Miami.

If you are looking for a party, Miami is a great place to be, as most clubs are open until 5 am. It is one of the few places to allow 24-hour liquor licenses. South Beach is the hub for beach nightlife, where Brickell features the hottest downtown locales.

The city is also a major cultural center, heavily influenced by its strong Latin-American and Caribbean populations. It features an abundance of theatres, museums, art galleries, and festivals. The Calle Ocho Festival, Carnivale Miami, and the Miami International Film Festival are just some crowd favorites. Miami has numerous orchestras, symphonies, and performing-arts conservatories.

Miami features a top-rated culinary scene, with not only many of the world’s greatest chefs and many Michelin-starred restaurants, but some of the world’s best Cuban food anywhere off the island. Diners can enjoy everything from world-class seafood, to barbecue, to authentic ethnic cuisines from around the world.

With its “beach body” culture, it is no surprise that Miami is a very active city. Fitness clubs and studios abound, and it is common to see fitness classes on local beaches and in parks. The city is surrounded by the Everglades National Park and the Biscayne National Park and has over 800 parks inside its borders. There are boundless places to mountain bike, hike, kayak, take the dog for a run, etc. Miami is also considered a Top 10 U.S. destination for both golf and deep-sea fishing.

Greater Miami features over 20 miles of beautiful white-sand beaches, with various locations offering everything from secluded strips for more solitary trips to lively urban strips fully of action. The most famous of these is the iconic South Beach, bordered by Ocean Drive and its colorful art deco architecture, restaurants, and boutique hotels. Other notable beaches include:

  • Mid-Beach/North Beach- lower-key northern neighbors of South Beach
  • Sunny Isles Beach- famous for its Newport Fishing Pier
  • Haulover Beach- Florida’s oldest officially recognized nude beach
  • Matheson Hammock Beach Park- features a man-made atoll pool safe for all ages
  • Hobie Island Beach Park- dog-friendly, on and off-leash

Miami is serviced by a sprawling public transportation system, featuring 3 separate components. The Metrorail is a 25-mile elevated train that runs from Miami International Airport, through Downtown to South Miami. The Metromover is a smaller free elevated train service running through the downtown area. The Metrobus operates more than 1000 buses on 95 routes connecting the Metrorail system to local areas, or as far as Fort Lauderdale and the Florida Keys.

Miami Education

The Miami-Dade County School District is the fourth-largest in the United States, with more than 345,000 students and nearly 400 schools.

A true melting-pot of communities, Miami-Dade students speak more than 50 languages, and hail from over 150 countries. Many schools feature Spanish bilingual programs, as over half the population in Miami speaks Spanish.

The district is home to 7 of the top 100 high schools in the country, and 4 of the top 10 schools in Florida. Some of the highest-rated public schools are located in the communities of Coral Gables, Coconut Grove, and Pinecrest. There are also many high-regarded private and charter school options throughout the city as well.

Miami Real Estate Stats

Average Home Price $430K
Lowest Listing Price $0
Highest Listing Price $4.3B
Total Property Listings 518,240
Avg. Days On Market 166
Avg. Price/SQFT $280

Property Types (active listings)

Kari Fleck, Owner & Broker

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