Sunny Isles Beach, Florida

It suits buyers who want oceanfront high-rise living with a Miami-area location between Aventura and Fort Lauderdale. Families are zoned to Norman S. Edelcup/Sunny Isles Beach K-8, and the island's waterfront homes put the beach and Intracoastal within reach of nearly every address. It's a walkable, vertical community rather than a suburban one.

It's a premium market, with an average of $817 per square foot and a median list price of $749,000. That said, the range is enormous — from $85,000 up to $47,500,000 — so you can browse by price across a wide spread of towers and unit sizes.

Over the past 12 months, 654 homes sold at a median price of $575,000, while active listings carry a higher median list of $749,000 on a median size of about 1,423 square feet. For the higher end, 447 active luxury homes ($1m+) are currently on the market.

There are 1,102 active listings, and homes take a median 95 days to sell — a relatively slow pace that favors buyers. Sellers are averaging about 93% of asking, so it's worth watching the just reduced listings for negotiating room.

Median property tax runs about $7,695 per year, and since this is almost entirely a condo market, monthly HOA or association fees are a major part of the cost of ownership. Those fees vary widely by building and amenities, so review them carefully for any specific townhomes & condos you're considering.