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Real Estate Market Update – April 2013

Real Estate Market Update – April 2013Market Update

Ron Shuffield, President of EWM Realty International gives us an update on the increasing prices of South Florida homes.  Click here to view the video.

Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 2 Comments »

Rising Miami Home Prices, Inventory Shortage Create Opportunity for Sellers

Rising Miami Home Prices, Inventory Shortage Create Opportunity for SellersHousing Prices

Submitted by Lynda Fernandez

Miami, FL – Miami home prices rose again in September, marking 10 consecutive months of appreciation, according to the 26,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. The median sales price of Miami-Dade condominiums, which has increased each of the last 15 months, rose 36.2 percent to $150,000 compared to a year earlier. The median sales price of single-family homes rose 8.6 percent to $190,000.

“The Miami real estate market continues to strengthen despite the shortage of housing inventory,” said 2012 Chairman of the Board of the MIAMI Association of REALTORS Martha Pomares. “We’ve seen nearly an entire year of significant monthly price increases, which makes now a great time to sell a home. Miami properties sell very quickly and draw multiple offers when priced right.”

In September the average sales price for condominiums in Miami-Dade County increased 30.2 percent to $277,774. The average sales price for single-family homes decreased 6.1 percent to $315,521.

Florida Statewide Home Prices

Statewide median sales prices in September increased 7.4 percent to $145,000 for single-family homes and 18.8 percent to $105,376 for condominiums, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. The national median existing-home price for all housing types was $183,900 in September, an 11.3 percent increase from September 2011, according to the National Association of Realtors (NAR).

Miami Home Sales Rise Again in September

Total residential sales in Miami-Dade County Read the rest of this entry »

Written by Michael Solovay | Discussion: 1 Comment »

Brazilian Buyers Continue Sales Spree in Miami

Brazilian Buyers Continue Sales Spree in Miami

Visit msnbc.com for breaking news, world news, and news about the economy

Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Downtown Miami 2020

Downtown Miami 2020

Video illustration of ten billion dollar boom coming to Downtown Miami by the year 2020.

Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

South Florida Home Prices On The Rise

South Florida Home Prices On The Rise

Home values in Palm Beach, Broward and Miami-Dade counties inched up 0.2% from November, according to the Standard & Poor’s/Case-Shiller home price index.  In the rest of the nation home prices in 2011 ended on a downer.  In South Florida, the number of homes for sale has declined sharply over the past year.

Case-Shiller’s “Miami” real estate index was one of only two to increase between November and December.  While still down about 3% from a year ago, the December yearly decline was the lowest for 2011.

Case Shiller South Florida

The monthly gain for December was up a measly . 2%.  But, out of the 20 metropolitan areas tracked by Case-Shiller, only Phoenix joined Miami in showing an increase in December.

Competition among buyers is heating up which is helping to stabilize prices in some areas.  Case-Shiller is one of the most respected measures of home prices because it tracks the price of the same house over time.

Let me assist you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Miami’s Luxury Condo Market Surges

Miami’s Luxury Condo Market SurgesThe Setai Resort & Residences

Foreign buyers acquired more $1 million condos in 2011 than in the last year of the South Florida real estate boom in 2006, according to analysis of data from the Southeast Florida Multiple Listing Service Database.

Buyers purchased nearly 590 condos for at least $1 million each in 2011 after acquiring less than 500 high-priced units in 2006.

The 2011 luxury condo resale activity represents a 29% increase from 2010 when fewer than 460 units were purchased for at least $1 million each in Miami.

At the top of the list for the most expensive condo resale in the year 2011 is a penthouse in the Setai Resort & Residences in Miami Beach that sold for $21.5 million.  Buyers also paid $11.5 million for a penthouse in the Apogee condominium and $10.6 million for a high-floor unit in the Continuum On South Beach.

Nearly 20 ultra-luxury condominium units are on the resale market for at least $10 million each with one unit asking $38 million in Bal Harbour.

At least 5 new luxury condo towers are planned or under construction in Miami-Dade County where the proposed sales prices are expected to exceed $1 million each.

For more information on South Florida real estate please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Miami, FL Is Number One

Miami, FL Is Number OneMiami, Florida

Miami, FL is the number one town on REALTOR.com’s Q4 Top 10 Turnaround Towns Report.  According to the Miami Association of Realtors, sales of existing single family homes in the Miami Metropolitan Area increased 51% in the 3rd quarter compared to a year ago.  Miami has half as many properties in Realtor.com’s inventory of listings as it had a year ago.  Also, Miami continues to be a hot market for international buyers.  In May, international buyers purchased about 60% of the existing houses and condos and 90% of the newly built homes in Miami.  According to the experts, Miami, one of the hardest hit foreclosure markets, is on its way back.

Fort Lauderdale, FL made the list as well coming in at number eight.  The list also includes several other Florida cities.

I can help you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Luxury Portfolio International and EWM Realtors

Luxury Portfolio International and EWM RealtorsLuxury Portfolio International

Luxury Portfolio International the largest global network of premier locally branded companies dominated by many of the world’s most powerful independent luxury brokerages. The website was launched in 2005 and in its first year featured more $1 million-plus residences than other luxury real estate organizations. The network continues to grow and now markets over 25,000 of the world’s most remarkable homes annually and attracts over 1.2 million high-net-worth visitors a year. By presenting a gallery of the finest luxury properties and brokerage worldwide, the brand is recognized throughout the world as the luxury standard of excellence.

In addition, they are unmatched in the global arena, with properties in over 45 states and 27 countries, website visitors from over 200 countries/territories every month, site translation in nine languages, conversion to multiple currencies and a total inventory of available properties totaling almost $40 billion.

The 200 luxury affiliates represent the luxury component of an organization which encompasses nearly 550 companies, 4,600 offices and 140,000 associates producing $225 billion in annual home sales in 30 countries. Based in the United States, Luxury Portfolio InternationalTM is backed by the experience of the most well respected and well known experts in luxury real estate in markets worldwide. This group collectively has decades of experience in the high-end luxury real estate market.

For more information on buying or selling your property please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

How’s the Real Estate Market in YOUR Area?

How’s the Real Estate Market in YOUR Area?

Subscribe to my Real-Time Market Report.  It’s all about what’s going on right now and it’s free!

Learn about price trends, supply and demand and leading indicators.  Better real estate market information helps you make your decisions with confidence!

Executive Summary Condo 33180 - May 16, 2011

It’s FREE! Click here to register and we’ll get you my Real-Time Market Report today!

Written by Michael Solovay | Discussion: No Comments »

Aventura, FL Real Estate Market Conditions (May 6, 2011) – Single Family

7-day stats for Single Family properties in
MIAMI, FL33180 – Aventura as of May 6, 2011
Median List Price $799,000 Average List Price $923,051
Total Inventory 55 Price per Square Foot $261
Average Home Size 2,935 Median Lot Size 7,990
Average # Beds 3.87 Average # Baths 3.45
Homes Absorbed 5 Newly Listed 1
Days on Market 253 Average Age 29

Median Price for homes in MIAMI, FL 33180 - Aventura

Median Price for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $799,000

Inventory for homes in MIAMI, FL 33180 - Aventura

Inventory for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 55

Average Days on Market for homes in MIAMI, FL 33180 - Aventura

Average Days on Market for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is 253

Median Price per Sqft for homes in MIAMI, FL 33180 - Aventura

Median Price per Sqft for homes in MIAMI, FL 33180 – Aventura as of May 6, 2011 is $261

Written by Michael Solovay | Discussion: No Comments »

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