South Florida’s cost of living surpasses the national average. When an index of 100 represents the national average cost of living across 269 cities, Miami and Fort Lauderdale had index values of 115.3 and 118.3, respectively, in the third quarter of 2023.
Notably, if Manhattan were considered separately, it would lead with an index value of 227.8.
(source: axios.com, picture: rachel-martin)
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South Florida’s Miami River is poised for a development surge, with a dozen projects potentially adding 10,500 condo and apartment units. The analysis focused on applications and construction loan filings from the past year, hinting that the count might be higher.
Ranging from proposals to nearly completed constructions, these projects signal a resurgence along the 5.5-mile stretch from Miami International Airport to Biscayne Bay.
The river, a historic site dating back 7,000 years, is witnessing renewed interest after developers diverted to other areas. This resurgence ...
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Amid the narrative of New York City residents leaving during the pandemic, a hidden trend emerges — out-of-state buyers investing in Manhattan real estate. Analyzing residential sales over the past two years, excluding purchases through shell companies, reveals a dynamic market.
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Here we go with the Manhattan Market Pulse, what’s going on in the Residential Market?
The contract activity, the number of signed contracts, for the month of October is down 9.8% compared to a year ago and also down 11% compared to the historical average for the month of October.
The Median Sales Price for a Manhattan apartment is $1.12M and it’s 2% down compared to a year ago.
The supply, the number of units ...
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The monthly contract activity stood at 571 in September, down 13.4%, with 88 fewer contracts signed than last year and 18% with 127 fewer signatures from the 698 historical average for the month. The Median Sales Price is $1,130,000, 2.2% down from last month and 5% down from last year. The supply of units on the market stands at 7,219, down 6.7% from a year ago. While the number of pending sales and units currently in contract stands ...
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The office market continues to struggle as available office space reaches a record high in the second quarter. According to Savills, there were 70.3 million square feet of office space ready for leasing, accounting for 19.7 percent of total space, the highest since the start of the pandemic. Leasing activity dropped by 12.1 percent in the first half of the year compared to 2022, and the second quarter saw a significant decrease of 25.2 percent compared to pre-pandemic levels. Lease renewals and expansions ...
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