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Newly signed contracts have been falling annually for nearly a year, distorted by the 2020-2021 boom, and new listings have declined annually for three of the past four months. New listings have been substantially below pre-pandemic levels for the past six months.
(source: millersamuel.com)
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South Florida house hunters may finally be catching a break. After months of increases, the median price for single-family homes appears to be stabilizing.
MIAMI-DADE
The total number of residential home sales rose by +33.5% year to year, from 1,862 in February 2020 to 2,485 in February 2021. Sales increased by +23.6% for single-family homes and by +42.3% for condos. Miami-Dade has 2.8 months of supply of single-family homes and 10.2 months of inventory for condos. A balanced market consists of six-to-nine ...
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Months of stay-at-home orders, growing numbers of infections and deaths, working remotely while the kids are attending school in the next room, stop-and-start business closures, and no end in sight to the COVID-19 pandemichave all had an unexpected impact on Miami-Dade’s real estate market. It’s just not what you probably think it is.
COVID-19 has turned out to be ...
Continue Reading →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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