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South Florida Real Estate Blog

Category: Market Updates

South Florida Luxury Real Estate Fared Relatively Well Through Hurricane Irma

September 15, 2017

Hurricane Irma brought forceful winds and substantial rainfall to South Florida, but most industry indsiders agree that the damage to luxury real estate could have been significantly worse. In fact, the storm is not expected to have a lasting effect on the real estate market in South Florida.

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Luxury Real Estate Investors, Take Another Note!

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.

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Brazilians Re-Entering the Miami Real Estate Market

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. 

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Best May Ever for Single-Family Home Sales in Miami

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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Miami Luxury Condo Sales Increased in March

May 11, 2017

Lower prices helped propel the Miami luxury condominium market in March, according to a recent report. Sellers lowered prices, hoping to boost luxury condo sales, and the result was a 31-percent increase in sales of condominiums priced over 1 million dollars, when compared to March 2016. However, only 2 of those units sold for the full asking price. Condominiums listed closer to the final selling price sold faster than those originally listed at a higher price. 

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Miami Real Estate Agents and Developers Increasingly Targeting Domestic and Canadian Buyers

March 24, 2017

Over the past year, Miami real estate professionals and developers have focused on targeting Canadians and Americans as buyers for high-end condo projects, as South Americans remain largely on the sidelines due to falling exchange rates. 

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South Florida Ranked as One of the Top Buyer's Markets in the Country

February 14, 2017

The South Florida area ranked as the second-best buyer's market in the U.S., according to a recent report by Zillow. Currently, 11.5 percent of listings have a price cut, and homes are spending 108 days on the market. Baltimore was the only city to best the Miami area. San Francisco ranked as the top seller's market in the country. 

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Russians Searched the Most for Miami Real Estate During Election Month

January 31, 2017

Russians topped the list of countries searching for Miami real estate online for the first time ever in November. Colombia, Venezuela and Argentina followed Russia, with Canada dropping from the top spot to number 5. 

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