Multifamily construction, meanwhile, rose on a monthly basis. 

The Avenue will feature a mix of high-end retail and hospitality venues, plus 50 upscale residences priced from just under $3 million. 

The 48-story residential tower in Miami’s Design District is the first residential venture by Michelin-Start chef Jean-Georges Vongerichten. 

Four new decorated model homes are available for tours. 

La Baia North’s 57 units are already 60% sold, with prices starting at $1.4 million. 

The 1,200-acre community in Southwest Florida has started sales of three communities with homes beginning at $1.1 million. 

The rock ‘n’ roll-themed condominium project is slated to open in 2026. 

The former WeWork CEO’s company, Flow, has already developed two rental communities in South Florida. 

The median price of a new home sold during the month was also up, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

Multifamily starts, meanwhile, declined, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development said.    

META Development is paying $21 million for two Brickell Avenue lots, where it will develop the community. 

The 10-story tower will bring 50 condominiums to the final development site on Fisher Island. 

The 65-condo development is located on Grove Isle, a 20-acre private island off Miami’s Coconut Grove neighborhood. 

The 716,000 per-year rate of new-home sales topped the consensus estimate of 700,000. 

The 50-story tower rising in Miami’s South Brickell neighborhood will offer 152 condominiums, over 60% of which are under contract. 

The 12-story development will have 228 residences ranging from studios to two-bedroom units that can be leased out for terms as short as one month.