real estate market Archives - Rava Realty

Miami-Dade property values increase for third consecutive year

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Miami-Dade property values increase for third consecutive year

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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Could the RTO of Wall Street Employees Impact the NYC Real Estate Market?

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Could the RTO of Wall Street Employees Impact the NYC Real Estate Market?

The recent shift from flexible work-from-home policies to more stringent return-to-office (RTO) mandates by financial firms could affect New York City’s real estate market. Wall Street companies, which previously allowed hybrid work schedules, now require many employees to be in the office, up to five days a week.

Employees are responding to these changes by adjusting their housing plans. For instance, some opt to move back to the city full-time, while others maintain their suburban homes and acquire smaller apartments in Manhattan for convenience. Some ...

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Miami-Dade County’s warehouses are in high demand

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Miami-Dade County’s warehouses are in high demand

Tenants, spanning e-commerce to importers and beverage companies, are grappling to secure storage space in Miami-Dade due to the record-low vacancy rate of 1.6%, leaving tenants scrambling for space. This surge in demand is fueled by Florida’s robust population growth and thriving tourism sector. With 12.4 million annual visitors, Miami-Dade sees a significant need for warehouse space to support the hospitality industry’s logistics. Broward and Palm Beach counties, while having higher vacancy rates, are also experiencing steady demand. Despite the tight market conditions, rents ...

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Manhattan Market Pulse – September 2023

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Manhattan Market Pulse – September 2023

The monthly contract activity stood at 796 in August, with 28 fewer contracts signed than last year and down 5% from the 841 historical average for the month. The Median Sales Price is $1,180,000 at the moment, basically the same amount as last month and just 1.6% down from last year. The supply, the number of units on the market, stands at 6,480, down 4.2% from a year ago. While the number of pending sales, which is the ...

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Manhattan Real Estate Market Pulse

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Manhattan Real Estate Market Pulse

The monthly contract activity stood at 816 in July, basically the same amount as last year, with just three more contracts signed and down almost 10% from the 906 historical average for the month. The Median Sales Price is $1,019,000, at the moment, 3% down from last year. The supply, which is the number of units on the market, stands at 6,418, down 6.9% from a year ago. While the number of pending sales, which is the number ...

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Miami Residents Face Lengthy Savings Journey for Down Payments

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Miami Residents Face Lengthy Savings Journey for Down Payments

According to Zillow data, Miamians will need an average of 13 years to save for a 10% down payment on a typical home in the area. In Florida, the average time is 11.8 years, based on saving 5% of the median household income each month.

The National Association of Realtors (NAR) reports a record-low share of first-time buyers due to inventory shortages and affordability concerns. Additionally, the median age of first-time buyers has increased from 33 to 36 in the past year. The challenge of ...

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