What is the best neighborhood in Miami?
Where in Miami should you live and what is the best neighborhood in Miami for you?
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We are constantly asked “What is the best neighborhood to live in Miami?” Of course this depends on your lifestyle and needs. A recent poll which interviewed 100 of Miami’s best agents concluded that the best home market for families was Coral Gables followed by Pinecrest and then Coconut Grove. The best neighborhood for retirees and snowbirds was said to be Miami Beach.
What was voted as the most important elements in a purchase? It was ‘walkability’ and ‘schools’. In reality though I can tell you that many of my clients over the years have seen things differently, and have different priorities to one another – as you might expect. We also notice that neighborhood markets move in popularity over the years – some can become more expensive in comparison to others and so become less desirable, while the cheaper but equally attractive neighborhoods become more desirable. Some neighborhoods are going through a renaissance and become ‘in vogue’ with the delivery of new shops and services and other neighborhoods can become overly saturated and may be heading for periods of ‘price adjustment’ at certain price points and levels.
For example Coral Gables we range up in $100 increments and homes sell anywhere from $300 per sqft to over $1,000 per sqft. What becomes useful is when you pick a range according to your budget and needs. Say… I need a 4,000 sqft home or bigger and I have a budget of around $2m we can focus on homes that are around $400-$500 per sqft. When you pick this category and shop the different neighborhoods it is very interesting to see the varying levels and finishes of home you can buy.
Aside from what you can afford we have extensive knowledge of schools and service development. We also understand the all important movements of the market and one of the most important pieces of information you can pay attention to (especially if you are buying a property that your focus is on ‘appreciative value’ and buying a home or Condo that will go up or at least not go down in value, is determined by months of inventory.
Our market reports for each neighborhood are key and provide all of this and more! – but if you want the most concise advice and guidance, pick up the phone and call me. Or if you want email me. I love talking real estate with clients and because I busy myself everyday with tracking markets and learning whats going on, as well as ‘searching out the best deals’ I am delighted to share the information!
A quick guideline for those who know what they want…
The Financial District of Miami and the thriving business heart of our city is the Miami destination of choice for many young professionals. Brickell is a condo market and the real estate market ranges from older and more affordable condos to ultra-luxurious, brand new mansions in the sky.
Downtown and Brickell are seen as Miami’s business district. Downtown is following Brickell’s developments closely and a handful of brand new condos is arriving soon. Downtown Miami’s condos enjoy spectacular bay views, a bay front promenade as well as a soon to come new mega mall with a multitude of dining and entrainment options (Miami Worldcenter). Downtown is making a name for itself in the cultural world as it recently opened the Perez Art Museum and the upcoming Patricia and Philip Frost Museum of Science.
Coconut Grove is a pre-dominantly single-family-home market and is tremendously in demand with buyers. The Grove has a Bohemian chic feel to it and attracts many wealthy families because of its 24/7 police patrol (Awarded Miami Dade’s safest neighborhood 2015), excellent schools, proximity to Brickell and Coral Gables as well as its many gated communities, waterfront mansions and the brand new ultra-luxurious condos (Park Grove and Grove at Grand Bay).
Coral Gables offers pre-dominantly single-family homes. Good value condos, and especially luxury or brand new condos are currently very limited. The area is very family friendly and offers excellent private and public schools. Coral Gables is a very large area and offers homes from $500,000 to multi-million dollar properties. Coral Gables offers some exclusive and waterfront gated communities in the east side of the town, while the west side of Coral Gables is in demand because of its proximity to the golf courses
Pinecrest is a very family-oriented neighborhood offering homes on what large sized lots (An acre of lot is no exception here!). Pinecrest is the latest to emerge in Miami’s ongoing real estate boom. The more dated or less maintained Pinecrest properties are being bought up as we speak and luxurious mansions are being constructed. This is a good moment to get into the Pinecrest market as the values are rising while the neighborhood is still affordable compared to area such as Coconut Grove or Coral Gables. Pinecrest is known for its excellent public schools
Key Biscayne offers first class living in one of Miami’s and even the country’s most exclusive communities. The island is a boater’s paradise and offers homes (many of which are waterfront) and condos. Living here is less affordable than elsewhere in Miami, but your kids will be able to attend one of the best public schools, you have direct access to the bay and the exclusivity and safety of the island are priceless.
Despite its super touristic image, Miami Beach has so much more to offer than just sunshine and beaches. Besides swanky condos with superb views, Miami Beach offers quite a variety of ultra-luxurious homes often located in exclusive, gated communities or on islands. Needless to say, this class A destination comes with a hefty price tag. Being one of the world’s top 10 luxury destinations Miami still offers a lot of home for your dollar compared to other cities in this impressive list.
The most southern part of Miami Beach is offering lots of high-end and glamorous condos. In the most southern point, also known as South of Fifth we find pre-dominantly luxury condos like the desired Continuum or Apogee and new condos like 120 Glass and Louver House. While South Beach is most famous for its condos, the single-family homes should not be forgotten. Homes on the Venetian Islands or Palm Island are very much in demand with buyers and prices have seen considerable increases.
South Miami is a small area nestled between Coral Gables and Pinecrest. The area offers single-family homes and is desired because of its proximity to the Grove, Coral Gables and even Brickell while homes in this area are more affordable and within the boundaries of great public schools.
Bal Harbour and the Bay Harbor Islands
Located in North of Miami Beach, Bal Harbour is most known for its ultra-luxurious shopping mall and the St Regis Bal Harbour condo hotel. The area offers a wider range of condos from below the $500K mark to $10M+ properties. The Bay Harbor Islands are currently experiencing a rapid change with many newly announced boutique condos and townhomes. For those looking to live waterfront near Miami Beach but don’t have the Miami Beach budget, this would be a great alternative
Sunny Isles Beach
Sunny Isles Beach is a high-end living community offering mostly condos, just north of Bal Harbour. The area offers luxurious condos and with the new surge of ultra-luxury condos this is the place to be if you like glamorous condos with over the top amenities. It is here where you can find the first Porsche Design Tower with a car elevator, an Armani branded condo and a Ritz Carlton Condo.
Edgewater / Arts and Entertainment district
One of Miami’s most up and coming areas. Both areas are pre-dominantly home to condos. Edgewater is now home to a good amount of brand new luxury, waterfront condos that are ideally located between the Arts and Entertainment district and Brickell and Downtown. The Arts and Entertainment district is the area that includes Midtown, the Design District and Wynwood. This neighborhood does not offer that many residences at this very moment but opportunities will arise shortly. This area is Miami’s epicenter for the arts, culture, fashion and more and more fine dining. These areas are still in full development and offer a more bohemian chic lifestyle.
What is Miami’s best neighborhood?
As you can read above Miami has many different areas to offer. Whatever is the best neighborhood is Miami depends on your own wishes and criteria.
- Would you like to live in a condo surrounded by young professionals then Brickell or Downtown is the place to be.
- Would you like to visit Miami once per 4 months and rent the unit out for the rest of the year then a swanky Miami Beach condo hotel might have your preference.
- If you have a family and you like your privacy and good schools around then Coconut Grove, Coral Gables or Pinecrest will be your best Miami neighborhood.
- Do you like island living with a high sense of privacy and exclusivity while having a boat docked in front of your home, then the Beach or Key Biscayne will get your preference.
Please visit our neighborhood pages or call me directly at +1.305.508.0899 to discuss which is the best neighborhood in Miami for you!