The current state of America’s housing market raises a lot of questions. Professionals and users seem concerned about the Real Estate market. Housing prices are rising faster, higher than ever. Today’s situation is the result of many factors combined, but the pandemic definitely triggered the whole industry. In fact, the Covid-19 situation lasted long enough to create lifestyle changes. For example, the impact of societal behavior pushed more millennials toward homeownership and families to get a bit further from big cities.Read the rest of this entry »
Tag Archives: Miami real estate market
People’s concerns regarding the effect of the Coronavirus in the South Florida Real estate market keep rising, and more studies results keep arriving with more interesting facts. This time it has to do with the drop of the residential inventory in the past weeks.
According to one of these studies, which researched the number of new listings (condos and single-family homes) in the most populous metro areas in the US. from March 1st- April 5th compared to the same period last year, the Miami metro area showed a drop of 30.7% in new residential listings. In the ranking, Miami was classified sixth, which shows there was a major fall compared to the rest of the country.
In 2008, the housing crisis in the United States left many people in a state of panic. The housing market collapsed and prices dropped. It took 5 years for the market to recover (for example, a unit in Murano Grande was sold for only $1.85 million in 2012 whereas last year it was sold for $2.55 million, a 37% increase). Now, United States’ neighboring country might face the same situation.
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It’s the third quarter of 2017 and Miami real estate continues to attract buyers from all over the world despite the slowdown last year. A strong dollar and weak foreign economies were the biggest factors for 2016’s sales decrease ( down 25% in the first six months). However, this year seems to be a new chapter. Investors and homeowners are slowly gaining confidence. Let’s take a look at some key-points to better the understand the evolution of the Miami real estate industry. Read the rest of this entry »
Even though prices keep on increasing in Miami, cash is still number one. Almost $1 billion of sales has been registered in March 2016 for residential units of single-family homes in Miami Dade. The median price went up by 7.7% as compared to the price for condominiums that dropped by 2.6%. Despite 5 years of record sales, Miami keeps on registering sales in the range of high price points.
Knowing that 50% of all transactions in Miami-Dade County are cash, it shows that home buyers are still very much invested in Miami real estate market. Read the rest of this entry »
When you thought New York had it all, please consider that Miami at least has the weather and the standard of living that goes along with it. Developers have well understood such asset and work harder everyday towards creating the most beautiful and comfortable pads you could wish for. Who said slowdown?
Here are our favorite picks for you to invest in Magic City!
Renzo Piano is designing Eighty Seven Park, a 70-unit beachfront condo at 8701 Collins Ave. in North Beach. Apartments will measure roughly 1,400 to 7,000 sqft. American oak, Italian stone and glass walls are just some touches included in the pads’ interiors. But every condo will come with wraparound terraces from 15 to 25 ft wide that look out to panoramic vistas. You could also count a salon, a spa, a library and an enoteca for wine and food among lush green features: the lobby will hosts a leafy orangery and a permanent botanical exhibit with orchids and cacti. Read the rest of this entry »
These days I often experience the frustration behind clients that have been trying to buy a house or a condo for months. The worse is that they have it all; they are ready to buy, they have the cash, they are not picky but it seems these characteristics are not enough any longer. Indeed with so many potential buyers and a limited inventory you basically have to be hunting for a condo! I witnessed buyers that had to buy a condo without even visiting it. Timing is of the essence seems the perfect sentence in this Miami real estate market! Nowadays it is definitely a sellers’ market. Read the rest of this entry »
The report by the Prime Global Cities Index about the luxury residential market has just been released. And as usual there is some pretty good data in here so let me give you a summary of what’s interesting. Read the rest of this entry »
Lately we have been pleased to see that prices in the real estate market have been increasing. The market in Miami area in particular is doing great. But if prices are going up that way it’s also because they have been boosted by an inventory which is getting tighter and tighter. Read the rest of this entry »
From telephones to televisions and computers to cars, you’d be hard-pressed to find an aspect of our lives that hasn’t been affected by the internet revolution. And for those hopping in to the world of real estate, you’ll see that this industry has been significantly influenced by the interconnectivity of the world wide web. Read the rest of this entry »