Coronavirus took its toll on South Florida’s residential markets in the second quarter, with double-digit declines in Miami-Dade, Broward and Palm Beach counties.
Miami-Dade condo sales fared the worst, with sales dollar volume and closings falling by nearly half. Single-family home sales dropped by more than 30 percent in each county, year-over-year, according to the Miami Association of Realtors.
Luxury brokers have pointed to an increase in home sales in waterfront markets such as Miami Beach and Palm Beach, but …
by Riccardo Ravasini 
In Manhattan, the drops were stunning. July contracts for co-ops priced between $4 million and $5 million were down 94 percent from the same month last year. No contracts were signed for condos above $20 million. Across all price brackets, condo and co-op contracts were down 56 percent.
But in Brooklyn — where New Yorkers often migrate to in search of bigger homes and more open space — the numbers surged: 178 new condo contracts in July, up from 147 …
by Riccardo Ravasini 
As the city shut down this spring, New York’s wealthiest neighborhoods saw an exodus of residents, many of whom headed to second homes or rentals in the Hamptons and other parts of the Tri-State.
Now that Gov. Andrew Cuomo has given the go-ahead to reopen schools for in-person learning statewide, will those who fled return?
According to Petersheim who founded Hudson Valley-based development and real estate company Catskill Farms “The idea that they may shut down again really closes the …
by Riccardo Ravasini
What’s going on in the Manhattan rental Market? Let’s take a look at July 2020 data…
With the withdrawal of some of the restrictions due to Covid-19 emergency, new rental activity surged month over month but still well below the year-ago levels.
The Number of New Leases (excluding renewals), went down – 23.4% to 4,949, not the best but far from the worst percentage of loss ever – 70.9% recorded this April.
The Median Rental Price was $3,320 down …
by Riccardo Ravasini 
Residential sales plunged across Miami-Dade, Broward and Palm Beach counties in the second quarter, following a first quarter in which home sales were largely spared from the effects of coronavirus, according to Miller Samuel’s latest reports.
Among the areas hardest hit in South Florida, Manalapan, a high-end market south of Palm Beach, experienced a 54 percent annual drop in closed sales in the second quarter. The condo market in Coral Gables saw the biggest annual decline of all, at more …
by Riccardo Ravasini 
Sensationalism helps sell news, garner headlines and win clicks. And sensationalism has reached real estate these days. Yes, we have an evolving real estate market as we went through the lockdown and emerged from it; so it is easy for some news outlets to publish partial information to make it look like the end of the world is looming.
Bloomberg reported that a quarter of the city’s apartment renters haven’t paid since March, according to the Community Housing Improvement Program …
by Riccardo Ravasini