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Home Sales Flirting with New Records in Miami-Dade

Home sales flirting with new records in Miami-Dade

Some key real estate records are finally falling again in South Florida.

Prices remain about 40 percent below peaks set in 2006 and about a third of all homes carry loans larger than what they’re worth, but sales have moved very close to new record levels.

Home sales back to boom records levels

This chart tracks a 12-month average of sales of existing single-family homes in Miami-Dade County, as reported by the Miami Association of Realtors. The current monthly average of 1,052 homes per month is just 4 percent below the past peak of 1,093 homes set in June 2004.

To appreciate just how strong of a comeback that represents, consider that in July 2008, the monthly average hit just 330 homes. That was a 70 percent plunge — a depressed market in crisis by any measure.

While the overall sales level remains just below peak, some months have already set new records. In 2013, February, May and July all posted record sales. The August numbers are set to be released Sept. 19.

Read more here: http://www.miamiherald.com/2013/09/04/3605396/home-sales-flirting-with-new-records.html#storylink=cpy

I hope you find this information useful. I’m here to assist you with all your South Florida real estate. Contact me at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: 4 Comments »

Real Estate Tips For Home Buyers and Sellers

Real Estate Tips For Home Buyers and Sellers

Barbara Corcoran, real estate mogul and founder of The Corcoran Group gives advice to future and current homeowners.

When you become a buyer or seller the most important thing you can do is learn your market. Talk to a savvy local agent, and don’t make assumptions based on what you think you know. Real estate is local and every market is different with its own customs. If you believe there are general rules for real estate strategy that apply everywhere, you’ll likely be fooled.

I’m available to assist you with all your South Florida real estate needs.  Contact me at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: 5 Comments »

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 solovay.m@ewm.com.

Written by Michael Solovay | Discussion: 2 Comments »

South Florida’s Next Condo Boom – Sunny Isles Beach

South Florida’s Next Condo Boom – Sunny Isles BeachSunny Isles Beach FL

According to the Miami Herald, Sunny Isles Beach, a city created only 15 years ago on a stretch of beach that was dominated by theme-oriented boutique hotels built in the 1950s, is emerging as the epicenter of South Florida’s next condo boom.

Developers are proceeding with at least six condo towers with at least 530 luxury units to be constructed in a community that stretches less than 40 blocks along Collins Avenue.  The number of proposed new condo towers in Sunny Isles Beach is expected to increase in the upcoming months as developers have recently purchased an additional four condo sites.

Unlike the last South Florida condo boom, lenders are not yet willing to finance condo construction projects, thereby forcing developers to build using their own money combined with payments from contracted buyers.

The city of Sunny Isles Beach could see its total number of condos increase by more than 1,200 units with the latest boom.

Read more here: http://www.miamiherald.com/2012/07/22/v-fullstory/2907525/sunny-isles-beach-emerging-as.html#storylink=cpy#storylink=cpy

I hope this information is useful to you. Please contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

South Florida Residential Inventory

South Florida Residential Inventory

South Florida Inventory

Compiled by Condo Vultures Realty using the South Florida Shared Multiple Listing Service. Active listings are properties where no current sale contract exists; pending sales are properties in which a contract for sale has been executed, but not yet closed. Listing brokers control the status of a property listing. — Christopher Cameron

I hope you find this information useful.  Contact me for all your South Florida real estate needs at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

South Florida Residential Inventory

South Florida Residential Inventory

South Florida Residential Inventory

Compiled by Condo Vultures Realty using the South Florida Shared Multiple Listing Service. Active listings are properties where no current sale contract exists; pending sales are properties in which a contract for sale has been executed, but not yet closed. Listing brokers control the status of a property listing.

I can assist you with all your South Florida real estate needs. Contact me at (305) 329-4929 or solovay.m@ewm.com

Written by Michael Solovay | Discussion: 1 Comment »

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 solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

Summer 2011 Real Estate Market Update

Summer 2011 Real Estate Market Update

This real estate market update is presented by Ron Shuffield, President of EWM Realtors.  Today’s great values, which are truly half those 5 or 6 years ago,  are one reason why sales have taken off so much in 2011.  However, since January 2011 we have begun to see an increase in our prices, month after month.

[youtube]http://www.youtube.com/watch?v=ILUDyKW2h7U[/youtube]

Median Prices

Single Family Homes: Miami-Dade County

  • January 2011  $150,000
  • May 2011 – $180,000

Single Family Homes: Broward County

  • January 2011 – $165,000
  • May 2011 – $190,000

Condominiums: Miami-Dade County

  • January 2011 – $90,000
  • May 2011 – $124,000

Condominiums: Broward County

  • January 2011 – $68,000
  • May 2011 – $78,000

This is the best time to purchase real estate in South Florida in the past 6 years.

For more information on the South Florida real estate market please contact me at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

South Florida Foreclosure Activity

South Florida Foreclosure Activity

as of March 4, 2011

According to The Real Deal, the  number of foreclosures in South Florida year-to-date is 4,761 which is down from 14,314 at this same time last year.  The graph below shows foreclosure activity in Miami-Dade, Broward and Palm Beach Counties.

South Florida Foreclosures

For more real estate information please contact me at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

EWM Realtors is #1 Realtor in Miami-Dade County

EWM Realtors is #1 Realtor in Miami-Dade County For The Number of Luxury Homes & Condos  Sold in 2010Christie's

Esslinger Wooten Maxwell (EWM) Realtors has been the exclusive South Florida affiliate of Christie’s Great Estates (a one-of-a-kind, Christie’s owned international network of top-tier real estate brokerages throughout the world) for the past decade.  This affiliation has been the foundation for the sale of many of South Florida’s finest estates.  This relationship has been an integral part of EWM’s market leadership in South Florida residences valued greater than $1 million.  This has made EWM the number one real estate brokerage firm in Miami-Dade County for the number of luxury homes and condominiums sold.

EWM is involved in the sale of a luxury home or condo valued more than $1 million every 36 hours, 365 days of the year.

This information was compiled by data supplied by the:

  • Realtor Association of Miami-Dade County
  • Realtor Association of Greater Miami & the Beaches
  • Northwestern Dade Association of Realtors
  • Realtor Association of Greater Fort Lauderdale, or their MLS’s

for the period of May, June and July 2010.

EWM Realtors vs Competitors

EWM Realtors also holds the #1 ranking for the year 2009 in the same category.

Why not work with the best?

Contact me today at (305) 329-4929 or solovay.m@ewm.com.

Written by Michael Solovay | Discussion: No Comments »

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