prices Archives - Rava Realty

New development market defies seasonal norms

Usually, the ideal time to be on the market is to launch sometime in March or April, but we are seeing a different trend, at least in terms of new developments. Despite a slowdown in April due to various factors such as holidays, spring breaks, and the First Republic bank failure, New York City’s new development got a fresh wind in May.

Surprisingly, higher interest rates have boosted demand for new developments, as potential sellers in the resale market are hesitant to list and lose their lower rates. Developers have no ...

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19
JUN
2023

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contract signings, demand, developers, higher interest rates, inventory, labor and material shortages, new developments, prices, prime areas, real estate market, resale market, supply

Powerful new rush of buyers sends housing prices soaring

Posted by: Riccardo Ravasini

So far in 2021, residential real estate experts are reporting a powerful new wave of buyers, increasing the demand on an already low housing inventory throughout Miami-Dade County.

The powerful new wave of domestic buyers, purchasing more expensive primary residences and second homes with longer stays, is a also direct result of the pandemic catapulting the remote working trend, tax reform creating tax refugees, Florida’s no state income tax, and the influx of technology and finance companies; not to mention the quality of ...

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18
JUN
2021

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2020, 2021, average sales price, condo, covid, demand, florida, inventory, market, median sales price, Miami, miami beach, prices, real estate, recovery, soaring, south florida, transaction volume

US home prices jump at record rate

Posted by: Riccardo Ravasini

Home prices are on the up, but that may lead to trouble in the future.

The median cost of a single-family home jumped 12 percent in the third quarter to $313,500, marking the biggest year-over-year increase since 2013, according to data from the National Association of Realtors that was first reported by Bloomberg.

“Favorable mortgage rates will continue to bring fresh buyers to the market,” said Lawrence Yun, NAR’s chief economist. “However, the affordability situation will not improve even ...

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27
NOV
2020

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coronavirus, covid, home, market, mortgages, prices, real estate, sigle family, us, USA

South Florida’s multifamily market sees fewer investors than 2019. Still, prices rise.

Posted by: Riccardo Ravasini

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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1
OCT
2020

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broward, condo, dade, market, Miami, multifamily, prices, real estate, south beach, south florida, states, USA

Single-family houses may be hot, but luxury condos are selling better than you think

Posted by: Riccardo Ravasini

The pandemic might have driven some buyers out of towers and into single-family houses. But recent sales are proof that for many luxury buyers, condos are still the way to go in South Florida.

The luxury-condo market was oversupplied even before this year. Once pandemic restrictions began, Realtors were forced to go virtual. To attract buyers, they added incentives and dropped prices.

The sales team behind Armani/Casa is offering gift cards worth $25,000 for home buyers to purchase furniture from Armani/Casa, said ...

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17
JUN
2020

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condo, dade, drop, family, home, incentives, increase, luxury, market, Miami, prices, real estate, report, single, south florida, update, USA