Link Up With Lily - May ‘23

Hello Friends! A quick update on the market as we're now entering summer here in Miami. As one of the most attractive cities in the US, Miami continues to grow in the luxury market in housing as over 45% of $1M+ home sales have happened in the past 3 years. While activity has slowed down year over year, the wealthy clients continue to move to Miami driving up the average price homes and price per sqft. I want to share that not only do I help with end users who are looking for their primary residence, I have been assisting my clients find their investment properties. With a dynamic mixture of tourists visiting Miami, the city continues to be a desirable place to invest in. With the snowbirds gone, we have a wave of International buyers coming into town from South America and heavy European presence that I've personally noticed. The difference, you're competing with these CASH buyers. As mortgage rates have continue to trend upwards, with this week's closing at the highest point since November (According to CNN), there are different avenues to set up your loan terms that makes sense for you. Although I primarily focus in Miami Beach, these are the following markets I closely watch: Brickell, Downtown, Edgewater, Mid Town, South of Fifth, and Mid Beach. My approach is to closely watch these markets and analyze where pricing stands, activity, and number of sales week over week. Questions? Want to have a quick chat about the market? Give me a call! All my best, Lily

🏡 Featured Listings 🏡

Mid Beach 4301 Prairie Avenue 5 BED | 4.5 BATH | ~3,961 SF | $6,995,000 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

See All My Listings

📰 Miami in the News 📰

Read this feature of my Team Principal, Mendel Fellig, who's recently been featured in The Real Deal. He talks about the current market and strategy on making offers. I am with him 100%.

The Real Deal: There are no dumb buyers in Miami

🔦 Hospitality Highlight 🔦

Jass Kitchen Mediterranean restaurant with live jazz music. We reserved a special night where classic French love songs were played with guest pianists and singers that joined from the audience. Ordered the Beetroot Pink Dip*, Hummus with Seasoned Ground Beef*, Shepherd Salad*, and their special Beef Kabob, and carrot Baklava*. Enjoyed every dish but dishes highlighted in (*) I'd order again. Located in between Design District and Buena Vista, this romantic restaurant has all the right features to create a date night ambiance. With the help of live entertainment, it's a great spot for friends to gather as there was a large party of 10 sitting behind us, so bring your lovers and friends! Book A Reservation

🎟 Local Happenings 🎟

June 7, 9, and 15 (Home games) Miami Heat in Finals Basking in the glory of making it into the NBA Finals. Not all seasons last until June so enjoy the extended season and watch the team bring the Championship back to Miami. Book your tickets before it's sold out! Buy Tickets

This Month Home Inspiration Foyer Entrance Lily's Pinterest Inspo

🏗 New Development Spotlight 🏗

Aria Reserve A new chapter in residential sophistication is transforming the idea of a life well-lived. At Aria Reserve, the beauty of nature, a captivating waterfront location, sleek modern architecture, and state-of-the-art lifestyle amenities all come together in perfect balance. A pair of glass towers with flowing design profiles rise high above Miami’s chic Edgewater neighborhood. Directly on the shores of Biscayne Bay and surrounded by lush gardens and nature, Aria Reserve is immediately recognizable, yet feels like a private estate hidden away from the rest of the world. It is a first-of-its-kind relationship between design and nature, which creates an atmosphere of total serenity. 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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