Luxury Real Estate Prices in Miami Beach Keep Falling

In the Miami Beach barrier islands area, median sales prices dropped 24.3% for luxury condos and 19.5% for luxury, single-family homes compared to the previous year. Thats according to the quarterly report from brokerage Douglas Elliman and appraisal firm Miller Samuel. As a result, median sales prices reached $2,550,000 and $8,662,500, respectively.

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