Miami-Dade County Archives - Rava Realty

Condo Market Faces New Challenges Amid Regulatory Changes

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In Miami-Dade County, August experienced a significant drop in condo sales and prices. Sales fell to $470 million from $624 million in July, with closed sales decreasing from 810 to 712. The median sale price of condos dropped from $407,500 to $380,000, and the price per square foot fell from $416 to $388.

This decline is partly due to new building safety regulations following the Champlain Towers collapse in 2021. These regulations require extensive inspections and reserve funds for older buildings, increasing costs ...

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Miami-Dade property values increase for third consecutive year

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Property values across Miami-Dade County have risen by about 10% from last year, according to a recent report by the county. This marks the third straight year of increases, indicating a strong real estate market despite concerns about housing affordability.

The report highlights that all 34 municipalities in the county saw values go up, with 17 of them experiencing double-digit percentage increases. Florida City saw the biggest jump at 17.6%, followed by El Portal at 15%, and several others also saw ...

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Miami-Dade Condo Sales Dollar Volume Sees Substantial Jump

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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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Finally, apartment rents flatten. But affordability is still a concern

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According to a new residential real estate report, South Florida apartment rental prices have come back to earth after two years of big annual pandemic jumps of 7% in 2022 and 25% in 2021.Median rents this year through July have only slightly increased by less than 1%, signaling a slowdown in the previously surging rental market. 

The influx of new large apartment complexes in the region has contributed to the decline in rent hikes, adding competition to ...

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Dolce & Gabbana to brand a condo tower in Miami

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The Italian designer is the latest fashion house to work with a developer on branded condos in South Florida, as it expands into real estate worldwide.

The development in Miami is likely JDS’ 888 Brickell project; the supertall, at 1,049 feet tall, could become among the tallest in Miami, with other towers also planned at that height.

The branded residences trend has boomed in South Florida, brands such as Porsche Design, Armani/Casa, Aston Martin, Missoni, Ritz-Carlton and others have ...

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