Greater Miami’s 3 hottest markets in 2017

by James McClister

greater-miami-lakes-meadow-west-gardens-richmond-heights-real-estate-hottest-market-real-estate-2017-redfin

Lakes of the Meadow in Kendall is going to be Greater Miami’s hottest market in 2017 – or at least that’s how Redfin sees it.

And it has a point.

With a healthy median sale price ($318,200), a quick turnaround on listings (median of 44 days on market), and a strong average sale to list of 95.7 percent, Lakes of the Meadow came into the new year poised for significant growth.

Neighborhood Median Sale Price Median Days on Market Avg. Sale-to-List %
Lakes of the Meadow $318,200 44 95.70%
West Miami Gardens $195,000 24 98.80%
Richmond Heights $191,000 26 96.50%

But what’s really unique about Lakes of the Meadow is that unlike much of Greater Miami, it has a healthy single-family home supply.

“There has been a long-term trend of low inventory for single-family homes in Miami which has driven up prices,” said local Redfin agent Jose Medina. “Lakes of the Meadow is a well-maintained, established community in Kendall with many single-family homes to choose from. It has risen in popularity in part because there are older homes that have maintained their value, yet aren’t as pricey as new construction homes in other parts of west Miami.”

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