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July 18, 2017
In the resale market, we are seeing an increase in inventory and an extended number of days on the market. The longer a condominium stays on the market, the more antsy sellers become to unload their property. The sampling below outlines the average number of days on the market for the active listings in these select fine properties. It is currently averaging close to 6 months. Furthermore, the number of sales in a year in each of these buildings is dramatically low.
July 14, 2017
Investors, take note! Luxury condominium inventory is building up in new construction buildings in South Florida. There have been several, ultra-luxury, new construction buildings that have recently been completed and buyers have closed. We have found motivated sellers in the finest buildings all along the coast.
July 13, 2017
Construction on 3550 South Ocean in Palm Beach began this week. The 7-story, 30-unit development is the first oceanfront residential development to be built in Palm Beach in more than a decade. Presales at 3550 South Ocean are currently at 20 percent, with the luxury condominiums priced from 1.875 million dollars.
July 11, 2017
A penthouse at Auberge Beach Residences & Spa in Fort Lauderdale sold for a record-breaking 9.5 million dollars. It is the first condominium residence to sell for over 9 million dollars in Broward County. The old record was set by a slightly smaller residence in the same luxury development in April 2016. Both sales are a true testament to the immense desirability of Auberge Beach. It is the finest oceanfront development ever built on Fort Lauderdale Beach.
July 6, 2017
Wealthy Brazilians are once again purchasing real estate in Miami after a 2-year hiatus. Thanks to a stabilized Brazilian economy, interest in Miami real esate has increased this summer. Brazilians are looking to take advantage of the current economical climate and protect their money by buying international real estate.
June 30, 2017
The North Tower at Auberge Beach Residences and Spa Fort Lauderdale was topped off last week. The highly anticipated project is selling out quickly, and only three residences remain in the North Tower. The South Tower is currently over 50-percent sold out. New renderings of the oceanfront development's world-class spa and farm-to-table restaurant were also released, and the spaces look absolutely breathtaking!
June 27, 2017
The developers of Turnberry Ocean Club in Sunny Isles Beach recently secured a 259-million-dollar construction loan - one of the largest in South Florida this year. According to a release, the spectacular, 54-story tower has reached 300 million dollars in presales. Turnberry Ocean Club broke ground last November, and vertical construction is expected to begin later this year, with building completion scheduled for 2019.
June 21, 2017
May of this year was a record-breaking month for single-family home sales in Miami. The single-family home market had its best May in history, with total home sales, dollar volume, median prices, traditional sales and luxury home sales all increasing in May, according to a recent report by the MIAMI Association of REALTORS and the Multiple Listing Service.
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