Link Up With Lily - Aug ‘23

Hello Friends! As the last month of summer wraps up, it's been reported that Miami-Dade found it's first increase in Pending Sales for Single Family homes since November 2021. As Buyers grapple with the new norm of high interest rates, the pending sales increased from 1,057 to 1,064. The key driver: affordable homes. With an increased buyer pool from Gen Z and Millennials, the approach may be different as starter homes may be something in the past as they approach their strategy towards their forever home. Read more here on how Home Prices have been effecting these two generations approach. Due to an increase in home prices, affordability becomes a focal point as it can directly effect the down payment required. Inventory continues to be distressed as majority of homeowners are locked in with low interest rates which make it less appealing to go back in the market to purchase a new home. Due to the imbalance, this is one of the driving reasons Miami leads the nation with in annual home appreciation. If you are considering your option to purchase a single family home, feel free to reach out and happy to discuss neighborhoods that are seeing an increase in inventory. All my best, Lily

🏡 Featured Listing 🏡

MIAMI BEACH 4301 Prairie Avenue 5 BED | 4.5 BATH | 3,961 SF | $6,590,000 Newly constructed luxury home in the heart of Miami Beach. This modern contemporary two story home has been built with thoughtful care and consideration. 5 BD, 4.5 BA with luxuriously finished interior space of 3,961 sqft and 5,600 sqft including garage and balconies. Open floor plan with 10ft ceiling & large sliding doors providing a seamless indoor outdoor lifestyle, with a spacious backyard. Kitchen is designed with Brazilian quartzite counter, large cooking island, dual oven, sink and dishwasher. Primary bedroom includes two spacious terraces, walk in closet, & spa like bathroom. 3 additional bedrooms upstairs & 1 downstairs. Highly sought out location as you're minutes away from the Beach, 41st street, i195 highway, and across from Muss Park. Staging company Kiko Miami. Listed Exclusively by Mendel Fellig Group

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📰 Miami in the News 📰

Miami-Dade Single Family Home Pending Sales, Showing Appointments Rise

🔦 Hospitality Highlight 🔦

Queen Miami Beach Experience the extraordinary transformation of the historic Paris Theater on Washington Ave in South Beach as it welcomes Queen, a captivating destination that revitalizes the iconic Art Deco landmark. Embodying opulence and extravagance, Queen’s 21st-century Japanese-style grill pays homage to the theater’s rich history, infusing it with new life and theatricality. Indulge in an array of culinary delights, where each dish is meticulously crafted to ignite your senses. Immerse yourself in a sensory journey that showcases the finest flavors and techniques, while savoring the breathtaking ambiance of this enchanting establishment. Queen invites you to embrace the spirit of celebration and immerse yourself in a world of luxury, culture, and unparalleled entertainment. Reserve Now

🎟 Local Happenings 🎟

august Through September Miami Spice Month Summer in Miami has so many things to appreciate about. Your favorite work out class actually has an open spot, available parking spaces, and room for any last minute dinner reservation plans! Spice Up Your Life

This Month Home Inspiration Ceilings Lily's Pinterest Inspo

🏗 New Development Spotlight 🏗

72 Park 72 Park brings casual sophistication to the relaxed beachfront neighborhood of Miami Beach, with 22 stories of modern residences that look out above it all, offering unobstructed panoramic views through gleaming floor-to-ceiling windows of the Atlantic Ocean, Miami Beach, and Downtown skyline. Delivery Summer 2024. Prices starting at: - Jr 1 Bed (466 - 562 sqft): $719,000 - $900,000 - 1 Bedroom (639 - 657 sqft): $929,000 - $997,000 - 1 Bedroom + den (756 sqft): $1,050,000 - $1,230,000 - 2 Bedrooms (802 - 995 sqft): $1,260,000 - $1,700,000 - 3 Bedrooms (1,042 - 1,177 sqft): $1,390,000 - $2,200,000 Prices and availability subject to change without notice I'd Like to Know More

Have a question on real estate? Reach out to chat!

Lily Choi R.E. Advisor M: 213.284.5954 lily.choi@compass.com

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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