Reports surfaced this week stating that Miami was now among the nation’s Top 10 Luxury Home Markets. The cities with the most $1,000,000+ home sales earned a spot on the list. Coral Gables certainly contributed to these figures with over 177 $1,000,000+ properties sold in 2014. And we are on track to sell more $1,000,000+ homes in 2014 than any year in history (with 79 under contract). Rising values, low inventory and high demand are among the contributing factors to these high price sales. Take a look at the chart I created above which shows how this segment of the market has grown over the past 5 years.
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