This year is shaping up to be a remarkable one for new construction in Miami.

Creative Commons 3.0: EdoDodo, http://commons.wikimedia.org/wiki/File:View_from_Brickell_Key_Bridge.jpg

After several prominent years in the shadows, it seems that 2015 is shaping up to be Miami’s best year yet of new construction.

According to the latest analysis from Dodge Data & Analytics (DDA), residential construction spending in Miami totaled roughly $576 million in March. See our graph below for more perspective:

The news gets even better – in March 2014, Miami’s new construction spending was just $275 million, meaning that spending has risen a remarkable 109 percent increase from a year ago.

Our second graph looks at year-over-year changes in spending:

Finally, and arguably most encouraging of all, year-to-date residential spending has also increased substantially. Thus far in 2015,  residential spending has totaled $1.5 billion, a 30 percent increase from the $1.2 billion in the same period of 2014.

See our graph below for a final look at DDA’s numbers, this time on a year-to-date fashion: