Between 2020 and 2023, Miami’s 65-and-up population surged by 7.5%, reaching over 1.22 million, far surpassing growth in other age groups. This trend highlights a broader national pattern where the U.S. 65-plus demographic grew by 9.4% to about 59.2 million people, with some major cities seeing nearly 20% increases.
In contrast, Miami’s 15-to-24 age group grew modestly by 1.6%, while all other age groups declined. Overall, Miami’s population saw a slight increase of 0.7% during this period. This rapid growth in the …
by Riccardo Ravasini 
Developers across the U.S. are responding to a growing demand for more spacious apartments as people postpone home purchases and work from home more frequently. According to RentCafe, the average size of new apartments built in 2023 is 916 square feet, up 27 square feet from the previous year.
In Miami, the average apartment size has risen to 929 square feet, a 15% increase over the past decade. This comes after a trend in 2022 where apartment sizes shrank to their smallest since at least 2014 due to high …
by Riccardo Ravasini 
The contract activity, or the number of signed contracts, for June is down 4.2% compared to a year ago and 10% compared to the monthly historical average.
The Median Sales Price for a Manhattan apartment is $1.22M, which is basically the same number as a year ago.
The supply, or the number of units on the market, is down 1.1% compared to July 2023. Meanwhile, the number of pending sales, or the number of units currently in contract, is 19% higher than a year ago.
The Market Pulse, or pending-to-active ratio, …
by Riccardo Ravasini 
This year, the borough has recorded two sales over $100 million, the first since 2022. Recently, a penthouse at Vlad Doronin’s Aman New York sold for $135 million, following a $115 million sale at Central Park Tower.
Stock market gains and increasing wealth among the ultra-rich are driving these sales. By the end of last year, the top 1 percent’s wealth hit a record $45 trillion, largely due to stock holdings, which encouraged more spending.
The strength of the luxury market is unaffected by mortgage …
by Riccardo Ravasini 
Total condo sales for May amounted to $320 million, down from $338 million in April. The number of closed sales decreased to 954 units, compared to 979 in April and 841 in March, as reported by Multiple Listing Service data from Redfin.
Sale prices in May ranged widely, from $51,000 to $3.1 million, with a median sale price of $240,000. The price per square foot varied between $72 and $1,277, with a median of $239 per square foot.
The highest-priced sale …
by Riccardo Ravasini