Miami’s Cash Home Sales Decline but Remain Historically High

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Miami’s Cash Home Sales Decline but Remain Historically High

Cash buyers are stepping back from Miami’s real estate market after their pandemic-era shopping spree. In 2024, about 38% of Miami-area homes were purchased with cash, down from 42% in 2023, according to recent data. While the decline signals a shift, the share of cash transactions remains historically high both in Miami and nationwide.

A Redfin analysis shows that across the U.S., the percentage of cash home purchases dropped to just under one-third last year, the lowest ...

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Developer Sells Star Island Estate for Record $120M

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Developer Sells Star Island Estate for Record $120M

Billionaire developer Vlad Doronin has sold his waterfront estate on Miami Beach’s exclusive Star Island for $120 million, setting a new record for the most expensive home sale in Miami-Dade County.

The 2.5-acre property at 26 Star Island Drive was purchased by Constellation Drive LLC, a Delaware entity led by businessman Michael Ferro. Doronin, through his company Garden Islands International LLC, originally acquired the estate in 2009 for $16 million from retired basketball star Shaquille O’Neal.

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Miami Leads the U.S. Luxury Real Estate Market with Record-Breaking Sales

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Miami Leads the U.S. Luxury Real Estate Market with Record-Breaking Sales

South Florida continues to dominate the U.S. luxury real estate market, with Miami claiming the nation’s three most expensive home sales in February 2024, according to a Redfin report. Despite rising insurance costs and the looming threats of climate change, the region remains a top destination for the ultra-wealthy.

The priciest sale in February was a $49 million estate in Manalapan, a wealthy enclave south of Palm Beach. Palm Beach County secured four of the top ten ...

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New Hotel Openings and Reopenings Bring Thousands of Rooms to Midtown Amidst Tourist Surge

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New Hotel Openings and Reopenings Bring Thousands of Rooms to Midtown Amidst Tourist Surge

New York City’s tourism industry is booming, with nearly 65 million visitors in 2024—its second-highest total ever. Early projections suggest 2025 could break records, further cementing tourism’s role as a $79 billion industry that supports nearly 400,000 jobs. 

The Surrey’s reopening on the Upper East Side last fall set the tone, and now, other legendary hotels are following suit. The Four Seasons New York, The Waldorf Astoria, and Hotel Elysée are all set to reopen, bringing back ...

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NYC’s Population Bounces Back After Pandemic Exodus

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NYC’s Population Bounces Back After Pandemic Exodus

New York City’s population is on the rise once more, signaling a significant rebound following the pandemic-driven exodus of recent years. According to newly released census data, the city’s population increased by 87,184 people between July 2023 and July 2024, reaching 8.48 million. This growth, which follows a revised increase of 34,709 residents the previous year, indicates a clear return to the city’s long-term upward trend. 

The data underscores the impact of international migration, which has reached ...

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