Luxury buyers with the wherewithal to purchase are not waiting around for incremental interest rate cuts or price reductions, a new report shows. These buyers are confident that in the long run, the value of well-located real estate will only rise over time.
Miami-area real estate agents representing such buyers should move quickly to bring them to Merrick Manor, which is offering a 5% commission on individual unit sales for its last few developer-owned condominiums.
In the report published by CNBC, citing data from Redfin, luxury real estate sales are on the rise nationally (up 2% year-over-year in the first quarter of 2024). That increased activity helped median luxury residential prices surge by nearly 9% year-over-year in the quarter, hitting an all-time record of $1.23 million.
“People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise,” said David Palmer, a Redfin agent in Seattle, where the median-priced luxury home sells for $2.7 million. “They’re ready to buy with more optimism and less apprehension.”
In Coral Gables, Merrick Manor’s final collection of developer-owned units provides a luxury homebuying experience at significantly more affordable prices than comparable City Beautiful projects.
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor is just steps away from the world-class Shops at Merrick Park and has a Zillow Walk Score of 77, making it “very walkable.”
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit our Model Residence 527 on the at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. Open from 11 a.m. to 5 p.m. on Monday through Friday and weekends by appointment.
