According to the Miami Herald and Curbed Miami, 2017 is starting to look like the luxury residential real estate market will be a great time to buy. The reason for this is that there are a great many luxury homes on the market competing with each other. Sellers in the range of $1 million to $5 million are expected to reduce their home’s asking prices in order to appeal to buyers.

In 2016 there were 36% more single-family, luxury homes available for sale over the same period of time in 2012. Meanwhile, prices are about 3.5% lower now than in 2012 and expected to dip further. As most of Miami Beach is near the waterfront that segment of the luxury home market is expected to take the largest pricing reduction.

Follow Samuel Strauch on Instagram.

Samuel Strauch is the Principal of Metrik Real Estate. He has over 15 years experience buying and selling homes in Miami, including Miami Beach. Under his leadership, Metrik Real Estate has grown from a modest company into one that attracts international clients. Samuel Strauch has extended the reach of his real estate company into several Latin American countries where he buys and sells properties as well as attracts clients looking to buy homes in Miami.

Related: Mexicanos buscan invertir en bienes raĆ­ces en EU

Samuel Strauch has formed Metrik Real Estate into three key areas. The first is equity and development of residential real estate. The second is the company’s brokerage where they assist their customers looking to buy or sell their homes. The third branch of Metrik Real Estate that Samuel Strauch created is property management where they manage properties for the owners that are rental properties. Many people who want to rent out their homes don’t want to deal with finding renters and ongoing issues which is where Strauch steps in and manages all these details for them.

Follow Samuel Strauch on Twitter for the latest information on Miami Real Estate.