Miami Beach luxury sales volume up almost 61 percent: report

Miami Beach luxury sales volume has increased 60 percent in the last year, according to a report from Zilbert Realty Group. The data, which looked at sales through Nov. 30, showed condo sales in Miami Beach's 33139 zip code where sales prices were above $500,000. The total sales volume in Miami Beach rose from $436 million to over $701 million, with a 51.8 percent increase in the number of sales. There were a total of 422 transactions above $500,000, up from 278 at the same time in 2010. "The luxury market in Miami Beach has seen unprecedented demand, and the trend appears to be continuing as we enter 2012," said Mark Zilbert, managing broker of Zilbert Realty Group. -- Alexander Britell