(data source: millersamuel.com)
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23
OCT
2023
OCT
2023
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Miami-Dade Contract Activity
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Manhattan Market Pulse – March 2023
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The monthly contract activity stood at 816 in February, down 31.1% compared to last year and down 13.9% from the 948 historical average for the month of February. The Median Sales Price is $1,075,000, at the moment, down -6.7% from last year. The supply, which is the number of units on the market, stands at 6,429, up 1.7% from a year ago. While the number of pending sales, which is the number of currently in contract units, stands ...
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17
MAR
2023
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MAR
2023
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
Manhattan Luxury Reality Check
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There were 121 closings at $4 million and above in January 2022, 50 less than December. The Average Closing Price was $8,111,567 down -18%, meanwhile, the Median Closing Price was $6,125,797 down a nominal -0.4%. The Negotiability Factor, that is the average discount from the last asking price, was 4.55% down from 6.62% during the previous month. The pace of the market was basically unchanged since the Average Days On the Market were 155 compared to 153 for the properties that ...
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22
MAR
2022
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MAR
2022
Miami has become the most important city in America, FT Magazine has declared.
The city is now considered to be a “paradise of freedom,” attracting people from everywhere and of every political persuasion, the magazine wrote.
Many of the new arrivals are now attracted by the open environment in the city, in addition to the usual attractions of low taxes and good climate.
“The Miami Movement,” as mayor Francis Suarez calls it, gained momentum when Covid hit, and has grown so large that it has changed the city in a ...
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22
FEB
2022
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FEB
2022
A new apartment community in Boca Raton sold for $230 million, marking the most expensive multifamily sale in South Florida this year.
Giles Capital Group, Rosemurgy Properties, Schmier Property Group and Wheelock Street Capital sold the 456-unit, seven-building development to Atlanta-based Cortland.
The Residences at Uptown Boca was completed last year, and the sale breaks down to about $504,000 per apartment. Units range from 718 square feet to 1,737 square feet and from one to four bedrooms.
According to the release, the Boca community includes a 24-hour gym and ...
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19
AUG
2021
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AUG
2021