After years of intense competition and multiple offers, Miami’s luxury real estate market has shifted in favor of buyers, creating new negotiation opportunities according to local experts Carolina Lopez and Katherine Lopez of ONE Sotheby’s International Realty. In a recent interview, the Lopez sisters discussed how market dynamics have changed and why they’re advising clients to act now.
“Right now, I see that it’s a buyer’s market. It is, so but it’s a good thing,” said Carolina Lopez, who, along with her twin sister Katherine, has navigated Miami’s luxury market cycles for over two decades. “Don’t buy when everybody’s buying. Just buy when things change. So now the people that didn’t buy a couple of months ago, and I will say it a year ago, I call them and I say, this is the time to negotiate.”
Miami’s luxury market has seen a notable increase in inventory compared to previous years, with more properties available and less competition among buyers. This marks a clear reversal from the seller’s market conditions seen in recent memory.
The sisters describe a sharp contrast between current conditions and the competitive environment of recent years. “A year, two years ago, we used to fight for units. We used to send offers, and sometimes we didn’t get response like, ‘No, we got three offers for that property, and I’m sorry your offer didn’t go through,’ and I was like, ‘My god, it was a full cash offer,’” Katherine Lopez recalled.
Now, the situation is markedly different. “Definitely is more properties coming to the market. It’s a lot of pre-construction projects that they gonna get built soon. So definitely, that’s why it’s buyers market. Because when you have so much inventory, of course, it is time to absorb,” she explained.
The Lopez sisters emphasize their investment philosophy, which positions them to capitalize on market cycles rather than follow prevailing trends. “We never go with the trend if it’s a buyer or selling market, because when it’s a seller’s market, of course, we approach our client that they have properties to put it for sale because they’re buyer market. We call the people that we have in the pipeline, and I said, this is the time to buy,” Carolina Lopez explained.
This approach reflects their understanding of Miami’s position in global real estate, where international economic factors regularly shape cycles of opportunity.
According to the Lopez sisters, the current buyer’s market varies significantly by price point and location. “Definitely, people have the opportunity more to negotiate and get lower prices, and especially in the middle end market, the high end luxury residential, it’s a different story, but the middle end, you have more opportunities for sure, and more inventory as well,” Carolina Lopez noted.
Geographic factors also play a role, with waterfront properties maintaining stronger performance than inland alternatives. The sisters point out that market conditions differ across Miami-Dade County, with significant variations between neighborhoods and property types.
The Lopez sisters attribute Miami’s cyclical nature to its reliance on international buyers and global economic trends. “There’s a lot of cycles in Miami, because what happens in different countries affect us. So let’s say people, if Brazil is good, we’re going to get a lot of Brazil,” Katherine Lopez explained.
This international connectivity brings both opportunities and challenges, as economic circumstances in countries like Argentina and Brazil directly impact Miami’s luxury market demand.
The Lopez sisters predict that current buyer-friendly conditions are a temporary window within Miami’s usual market cycles. Their advice to clients is grounded in the belief that market dynamics will eventually shift, making today’s negotiation opportunities especially attractive for well-prepared buyers.
For those who have been waiting, the sisters suggest that current conditions offer the best negotiation leverage in several years, especially for properties in the middle to upper-middle luxury segments where inventory has increased most.
