News
COVID is not taking a toll on real estate deals. Home sales are up in South Florida
The South Florida housing market is finally getting its time in the sun after months of weathering a storm. And condos, not just single-family homes, are feeling the warmth. Broward and Miami-Dade saw 82% to 100.8% growth in year-over-year condo and single-family home...
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Miami’s condo market rebounds, led by $22M sale at 321 Ocean
Miami’s condo market came back to life last week, led by a $22 million sale at 321 Ocean. A total of 153 condos sold for $80 million last week. That’s compared to 112 units that sold for $52.6 million the previous week.Condos last week sold for an average price of...
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30-year mortgage rate hits record low — again
The average mortgage rate on America’s most popular home loan has hit another record-setting low. The rate on the 30-year mortgage fell to 2.88 percent, the lowest rate in 50 years, Bloomberg reported, citing Freddie Mac. Rates have dropped eight times during the...
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South Florida resi contracts continued to rise in July
New signed residential contracts and new condo inventory in South Florida rose in July, according to a monthly report from Douglas Elliman. But while the volume of new signed contracts exceeded recent pre-pandemic levels, new listings of single-family homes continued...
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Florida real estate report: Rising prices, sales and inventory
by: Marla Martin Media Relations and Communications Manager for Florida Realtors Florida’s housing market in June showed positive signs of recovery despite the continuing coronavirus pandemic, with more new pending sales, more pending inventory and higher median sales...
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NYC’s Wealthiest Flocking to Florida Even While Covid Rages
Lavish Florida retreats were a popular escape for rich New Yorkers riding out the Covid-19 lockdown. Now, many are rushing to make things more permanent even while the virus surges in the Sunshine State. Sellers in places like Miami and Palm Beach are getting flooded...
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Life in Palm Beach after lockdown: Demand for luxury homes sparks “pandemonium”
Palm Beach real estate agent Sonja Stevens listed a mansion on the island in late May, and within a few days received three offers, including one for the full $19.5 million asking price. Stevens, of Douglas Elliman, believes that the Palm Beach property — a main...
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With online buys, Doral warehousing in prime position
It may be too early to know exactly what effect the pandemic will have on commercial real estate in Doral, but experts say one segment may emerge particularly strong: the industrial market. With consumers buying online now more than ever, a trend only accelerated by...
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SoFla industrial market’s Q2 is strongest quarter in three years
South Florida’s industrial real estate market’s second quarter proved to be its strongest period in three years, according to a recently released report from Newmark Knight Frank. In the second quarter, South Florida’s industrial market saw a 51 percent uptick in net...
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Greater Miami Area Home, Condo Prices Rise 5 Percent Annually in June
Driven by strong demand and limited supply The Miami Association of Realtors is reporting this week that Miami-Dade County median home prices increased year-over-year in June 2020 as home sales continued trending upward despite the global COVID-19 situation. New...
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Researcher: The South Florida housing market sees highest overvaluation in eight years
The South Florida housing market is experiencing its highest overvaluation in eight years. Still, a housing crisis is unlikely, one expert said. Florida Atlantic University professor and real estate economist Ken H. Johnson found that homes in the Tri-County area were...
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From Aventura Mall with LOVE
A towering message of LOVE stands majestically at Aventura Mall – a reminder of our community’s resilience, what has kept us connected, and what is bringing us together again. The sculpture by American pop icon Robert Indiana is a focal point of Aventura Mall’s...
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