(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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The monthly contract activity stood at 1,143 in May, down 34.8% compared to last year and up 1.2% from the 1,102 historical average for the month. The Median Sales Price is $1,023,000, at the moment, up 3.2% from last year. The supply, which is the number of units on the market, stands at 7,530, down 2.2% from a year ago. While the number of pending sales, which is the number of units currently in contract, stands at 3,332, ...
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19
JUN
2023
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JUN
2023
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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21
APR
2023
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APR
2023
Manhattan Market Pulse – March 2023
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March was a hot month across the city
The monthly contract activity stood at 1,164 in March, down 22% compared to last year, up 2.2% from the 1138 historical average for the month of March, and 39% more deals closed than in February. Newly built or newly converted apartments across the city saw a 25% increase in deals compared to pre-pandemic averages for the month. The largest contract to close in March was a $66.5 million sale for two penthouse apartments at Naftali Group’s ...
21
APR
2023
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APR
2023
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