(data source: millersamuel.com)
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20
SEP
2023
SEP
2023
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Miami-Dade Contract Activity
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Miami-Dade New Signed Contracts
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Florida’s luxury residential real estate market has been breaking records with properties selling for never-before-seen prices. However, the overall slowdown in sales has resulted in more price cuts and longer closing times.
Miami Beach is one city where price reductions or discounts are becoming more prevalent, with nearly all $5 million-and-up sales trading at a discount off the asking price. The slowdown in home sales has created a divide between older homes in need of repairs and new or renovated properties, with ...
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21
APR
2023
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APR
2023
Miami-Dade New Signed Contracts
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Rents are still high, for now
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The average asking rent in the Miami metro area was $2,141 in the fourth quarter of 2022, up 13.3% from a year earlier, per economic research firm Moody’s Analytics.
The big picture: Many would-be home buyers chose to rent longer last year, sustaining apartment demand. But folks are hitting their spending limit.
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For the first time in over two decades, households now have to spend 30% of their income on average rents.
The expected surge in supply could help bring down prices.
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Yes, but: Most cities will ...
20
FEB
2023
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FEB
2023
Miami-Dade New Signed Contracts
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The number of agreements entered into recently has decreased month by month from August, with the number of new entries falling every month since June. However, the decreases in new contracts have been offset by the steep reduction in new listings since the summertime.
(source: millersamuel.com)
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20
FEB
2023
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FEB
2023