Tag Archive for: south florida

Miami sales numbers indicate solid footing amid pandemic effect

Miami sales numbers indicate solid footing amid pandemic effect

Home sales in Miami-Dade County — along with luxury transactions, median prices and dollar volume — were all up in March compared to a year ago, according to the MIAMI Association of Realtors.

March sales for Miami condos priced from $300,000 to $400,000 increased 44.2% year over year; sales of single-family homes priced from $400,000 to $600,000 increased 22.8% year over year; and sales of single-family homes priced at $1 million and up jumped 17.1% year over year.

Home prices were also up in March, with the media increasing from $352,250 in March 2019 to $382,750. This represented the 100th consecutive month that prices have increased. Read More: https://miamiagentmagazine.com/wp-content/uploads/2020/04/Mia-web.jpg

Miami Home Sales Increase Again in March 2020

Miami Home Sales Increase Again in March 2020 Miami-Dade County total home sales, luxury transactions, median prices and dollar volume increased year-over-year in March 2020, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system. “The Miami real estate market extended its run of solid expansion through March 2020,” MIAMI […]

Renting in Miami: What will $2,000 get you?

Curious just how far your dollar goes in Miami?

We’ve rounded up the latest rental listings via rental site Zumper to get a sense of what to expect when it comes to hunting down a place in Miami if you’ve got $2,000 / month earmarked for your rent. (Note: prices and availability are subject to change.)

Take a peek at what rentals the city has to offer, below.

2630 Southwest 27th Ave. (Coral Way)

Read more here: The Miami Herald

Miami Luxury Home, Condo Sales End 2017 on High Note

According to the Miami Association of Realtors, luxury home sales in Miami posted double-digit gains while existing condominium transactions surged year-over-year in December 2017.

Luxury ($1 million-and-above) existing Miami condo sales jumped 47.6 percent year-over-year, from 42 to 62. Luxury Miami single-family home sales rose 16.7 percent, from 60 to 70. Existing Miami condo sales increased 6.5 percent year-over-year in December, while single-family transactions stayed effectively even (down 0.7 percent).

“Strong pent-up demand for Miami luxury single-family and condominiums fueled December’s strong home sales,” said George Jalil, a Miami broker and the 2018 MIAMI chairman of the board. “Luxury sellers are becoming more realistic with their asking prices, and buyers are coming off the sidelines. Federal tax reform is also starting to have an impact as more Northeastern buyers are opting to purchase in Miami to escape the higher taxes they could face in states like New York and New Jersey.”

Federal tax reform, which was signed into law Dec. 22, 2017, sets a deductions cap for income, sales and property taxes at $10,000. The new cap could lead more residents of states with high property values and state income tax to purchase properties in states such as Florida, which has no state income tax and a pro-business tax structure.

Total Miami Home Sales, Dollar Volume Increase in December

Total existing Miami-Dade County residential sales — which posted a record year in 2013 and near record years in 2014 and 2015 — increased 2.9 percent year-over-year from 2,156 to 2,219.

Miami existing condo sales — which are competing with one of the most robust new construction markets in the country — increased 6.5 percent year-over-year, from 1,084 to 1,154. Single-family home sales decreased 0.7 percent, from 1,072 to 1,065.

Lack of access to mortgage loans continues to inhibit further growth of the existing condominium market. Of the 9,307 condominium buildings in Miami-Dade and Broward counties, only 12 are approved for Federal Housing Administration loans, down from 29 last year, according to Florida Department of Business and Professional Regulation and FHA.

Total sales volume for all properties accounted for $983.5 million last month, up 23.2% from $797.9 million a year ago. Sales don’t include Miami’s multi-billion dollar new construction condo market.    Click Here to Read More on World Property Journal

South Miami set to become first city in Florida to mandate solar panels on new homes

UPDATED July 14, 3 p.m.: South Miami is set to become the first city in Florida to require owners of new homes to install solar panels, joining San Francisco and two small cities in California as the only local jurisdictions in the United States with similar renewable energy building regulations.

A final reading is set for July 18, but there are enough city commission votes for it to pass.

Late Wednesday evening, city commissioners approved the legislation 4-1 on second reading, despite vocal opposition from developer representatives, consumer protection groups and some South Miami property owners. The new law also applies to existing properties whose owners increase the square footage of a home by 75 percent or more.

South Miami Mayor Philip K. Stoddard, who has long advocated for renewable energy solutions to combat sea level rise and global warming, said making property owners install solar panels would help reduce carbon emissions and rising temperatures. “This is about my children and my grandchildren and your children and grandchildren,” Stoddard said. “We are running out of time. It benefits everybody except auto companies and the utilities.”  Click Here to Read More on  The Real Deal

Which country searched the most for Miami homes in April? Colombia, again

Colombia topped the Miami Association of Realtors’ April list of countries searching the web for Miami homes in April.

Colombia has led the ranking for 12 of the last 17 months, including in March. Behind Colombia were Brazil and Venezuela, three prominent buyer pools of South Florida real estate. Real estate agents and brokers are reporting renewed interest from wealthy Brazilian buyers after a roughly two-yeat retreat.

Last year, Colombian and Brazilian homebuyers made the third-most international purchases in South Florida with a 10 percent share, according to the report. Buyers from Venezuela represented 15 percent, while Argentina came in at No. 2 with 11 percent.

Check out the top 10 list of countries looking for Miami homes in April:

  1. Colombia
  2. Brazil
  3. Venezuela
  4. Argentina
  5. Canada
  6. India
  7. United Kingdom
  8. Spain
  9. France
  10. Dominican Republic

Click Here to Read More on The Real Deal