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“Single family and condo new signed contracts combined have roughly doubled annually for the third consecutive month. New inventory for single families and condos has increased year over year for the first time in twelve months of tracking as seasonal patterns return.”
(source: millersamuel.com)
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South Florida house hunters may finally be catching a break. After months of increases, the median price for single-family homes appears to be stabilizing.
MIAMI-DADE
The total number of residential home sales rose by +33.5% year to year, from 1,862 in February 2020 to 2,485 in February 2021. Sales increased by +23.6% for single-family homes and by +42.3% for condos. Miami-Dade has 2.8 months of supply of single-family homes and 10.2 months of inventory for condos. A balanced market consists of six-to-nine ...
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Miami’s condo market continued to show an increase in sales volume and a decrease in inventory last month, according to a new report from Miller Samuel.
The number of condos that were put into contract in Miami-Dade during October was up 12.8% compared to the same period in 2019. In Broward, condo market contracts were up 86% for the month, and in Palm Beach the increase was 155%.
Condo inventory in Miami has been shrinking since 2018, and that ...
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It’s official: Fisher Island is set for 57 new condos and 12 single-family homes.
The Miami-Dade County Commission approved a plan last week that would bring the total number of residences on the private, 216-acre island to about 800 condo units and about 20 single-family homes.
Construction of the new residences is slated to begin in 2022, with completion in 2025, according to Kobi Karp, founder and principal of the Miami-based Kobi Karp Architecture & Interior Design, project architect.
Months of stay-at-home orders, growing numbers of infections and deaths, working remotely while the kids are attending school in the next room, stop-and-start business closures, and no end in sight to the COVID-19 pandemichave all had an unexpected impact on Miami-Dade’s real estate market. It’s just not what you probably think it is.
COVID-19 has turned out to be ...
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Anticipated population growth has multifamily investors spending more on apartment buildings despite sales volume dropping by 50% for the first half of 2020, compared to the year-ago period, in Miami-Dade and Broward, according to a sales report.
Price per square foot for multifamily units slumped by 29% in Broward year-over-year, but Miami-Dade saw a 25% increase in price per square foot, according to the Cushman & Wakefield South Florida 2020 midyear forecast. The report compared sales data for the ...
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