February 14, 2017
The South Florida area ranked as the second-best buyer's market in the U.S., according to a recent report by Zillow. Currently, 11.5 percent of listings have a price cut, and homes are spending 108 days on the market. Baltimore was the only city to best the Miami area. San Francisco ranked as the top seller's market in the country.
According the the report, the top five South Florida areas for buyers are Lauderdale by the Sea, Hallandale, North Bay Village, Aventura and Miami Shores. In Lauderdale by the Sea, 18.7 percent of listings have a price cut, and residences are averaging 141 days on the market. In Hallandale, 15.6 percent of listings have a price cut, and homes are spending 175 days on the market. In North Bay Village, 13.8 percent of listings have a price cut, and residences are averaging 179 days on the market. In Aventura, 13.8 percent of listings have a price cut, and homes are averaging 177 days on the market. Finally, in Miami Shores, 15 percent of listings have a price cut, and residences are averaging 134 days on the market.
Now is the perfect time to buy a home or condo in South Florida!
For the most comprehensive knowledge on the South Florida real estate market, contact Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: The Real Deal
