april Archives - Rava Realty

Miami-Dade Condo Sales Dollar Volume Sees Substantial Jump

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Miami-Dade Condo Sales Dollar Volume Sees Substantial Jump

April saw a significant surge in condo sales in Miami-Dade County, with higher closings and total dollar volume than the previous month.

The momentum continued to build in April, with total condo sales reaching an impressive $849 million, a significant increase from the $694 million recorded in March. Brokers sealed the deal on 979 sales, a substantial jump from the 796 sales in March and 704 in February, according to Multiple Listing Service data from Redfin.

Leading the way was a $25 million unit sale ...

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Record High Availability in the Manhattan Office Market

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Record High Availability in the Manhattan Office Market

The Manhattan office market had another tough month in April. A new report reveals that a record 94 million square feet of office space was available last month, while only 1.5 million square feet were leased in the period, significantly below the monthly average from the past three years. The report also shows that availability rates continue to rise, with Midtown South and Downtown experiencing a decline in leasing volume.

Despite this, Midtown had a slight increase in leasing volume, but it ...

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Manhattan Luxury Reality Check

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Every week we hear of multi-million dollar properties going on the market and sometimes the asking price seems exorbitant, because it is!

With this report, we are going to tell you at what prices luxury properties are actually closing and what was their actual negotiability factor, anybody interested in getting a discount?

There were 122 closings at $4 million and above in April 2022, 58 less than March. The Average Closing Price was $8,462,744 down -12,6%, meanwhile, the Median Closing Price was  $5,987,744 down -8.5%. The Negotiability Factor, ...

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Miami April 2022 New Signed Contracts

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“Newly signed contracts for single families declined month over month for the first time in 2022. In addition, condo new signed contracts fell for the second time. However, the jump in mortgage rates took some of the edge off of still elevated demand, enabling seasonal expansion of new single family listings.”

(data source: millersamuel.com)

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The Great Rental Market Comeback

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There were 4,494 New Lease Signings in Manhattan in the month of April -50.5% compared to the same period last year, but that was due to the distortion of surging inbound activity last year as the market woke up post pandemic.

Bidding Wars accounted for more than one in five new lease signings, with a 21.3% market share and a 10.7% average premium above the landlord’s last asking price.

The Median Rental Price was $3,925, up +31.9% from April 2021, ...

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