April 26, 2013
The real estate market in Miami and surrounding areas has been hot lately, thanks in part to an increase of wealthy overseas buyers purchasing vacation homes with cash. With foreign wealth flocking to Miami, luxury sales prices have increased in the first quarter of 2013, on a year-over-year basis.
April 22, 2013
Home prices in South Florida continued to increase in March due to growing demand and declining housing inventory. In Miami-Dade County, the median price of a single-family home rose 25.1 percent to 225,000 dollars, compared to 179,850 dollars a year earlier. In Broward County, the median price of an existing single-family home jumped 26.3 percent to 242,500 dollars in March, from 192,000 dollars a year earlier. On average, single-family homes were on the market for just 30 days, compared to 46 days last year.
April 15, 2013
After a few years on the market, the price of Lilly Pulitzer’s Palm Beach home has been reduced. Sadly, the fashion designer and noted socialite passed away earlier this month. However, with the recent price reduction and death of the home’s famous owner, the ultimate Pulitzer fan now has a prime opportunity to literally own the designer’s closet.
April 9, 2013
The luxury residential market in Miami-Dade County strengthened over the first quarter, according to a new quarterly report on the overall Miami-Dade residential market by StreetEasy.com. Luxury residential sales saw an increase of 16.3 percent in the first quarter of 2013 compared with a year earlier and an increase of 8.7 percent compared with last quarter.
March 27, 2013
The South Florida real estate market is still hot, according to recent figures released by the Miami Association of Realtors, the local Multiple Listing Service and CoreLogic. The new figures show that sales and home prices in the area continue to increase, while foreclosure rates decrease.
February 18, 2013
A few years ago most luxury home sellers knew they weren’t going to get the asking price of their home. Today, it’s a very different story. On a national scale the average home sold for 98.3 percent of the asking price this December, according to the Palm Beach Post.
February 14, 2013
Miami Heat President Pat Riley’s home that sold last year for sixteen million and eight hundred thousand is an example of a new trend in luxury real estate. Buyers are purchasing million dollar properties then tearing them down and starting over with better materials and a larger floor plan.
February 1, 2013
We have seen significant improvements in the luxury waterfront real estate market over the past year from Miami Beach to Palm Beach. Oceanfront condos and estate sales have gone up considerably and sale prices have increased as well. It isn’t always easy to predict the future of the real estate market but things are definitely looking up.
2100 N. Ocean Blvd. Suite #402, Fort Lauderdale, Fl 33305
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