Luxury home market in Miami faring well

  • Luxury home sales in Miami increased 5.3 percent annually in the third quarter of 2015
  • In Miami, $5 million could get a homebuyer six bedrooms, a waterfront locale and custom-built home spanning 6,475 square feet
  • Total luxury inventory rose 32.6 percent and the days on market fell to 73

The sales of luxury homes in Miami is on the rise, and upticking at a pretty impressive clip. According to the Miami Association of Realtors, in the third quarter of 2015 the inventory of all available homes increased pushing the sale of luxury homes up 5.3 percent year-over-year.