Q3 2023

Miami Real Estate Predictions for 2024

September 22, 2023

David Siddons and Ana Bozovic Forecast the Miami Real Estate Market Introduction to the 2024 Miami Real Estate Predictions In this blog post, we explore the Miami real estate market's outlook for 2023 and 2024. We delve into the state of the Miami Real Estate Market in 2023, and examine both the luxury condo market and the housing market. We highlight the prime areas to consider for living and investment in 2024, and what areas or markets to avoid. Our track record reflects a consistent [...]

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2023 Miami Luxury Condo Report – Market Records new highs for 2023! | Q1/Q2 2023 Analysis

September 5, 2023

The single-family home relationship with the new and existing luxury Condo market. Given the increasing scarcity of luxury single-family homes (especially waterfront) and their soaring entry-level prices, many buyers are now shifting their attention toward condominiums both new and pre-construction. Luxury buyers most often wish to live by the water – the Bay or Ocean. These buyers are opting for waterfront condos as an alternative to very expensive waterfront homes in order to get the ‘turquoise blue’. Furthermore, there is a growing trend of affluent [...]

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‘Real Buyers but not real Stupid Buyers!’ The 2023 Market Report for Luxury Homes in Miami (Q1/Q2)

September 3, 2023

The video is segmented into two parts: first, we explore a high-end property in Coconut Grove, and then, starting at the 2:52-minute mark, we delve into a discussion about the luxury real estate market. The Q1/Q2 2023 Report for Luxury Homes Miami. The luxury market exhibits unique characteristics compared to the broader market, which is why we dedicate a distinct section to it in our market reports. It’s crucial for both buyers and sellers to gain insight into the luxury market, as general media reports often fail to [...]

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Buyers are Targeting New Condos | Miami Beach Q1 and Q2 2023 Market Report

August 31, 2023

New condos leave older condos behind in the current Miami Beach market race Miami Beach Q1 and Q2 2023 Market Report. Miami Beach condo market is the largest beach market in Miami Dade County compared to Key Biscayne, Bal Harbour, Surfside, and Sunny Isles. There are currently over 700 active units for sale. According to our Market Analysis Software, the months of inventory indicator based on closed sales currently sits at 7 months, making it a balanced market. Furthermore, in our quarterly reports, we always take [...]

Miami Real Estate Market Reports News - Miami Beach Q3 2023

Stunningly Scarce Inventory Sparks Market Impasse  | Kendall Q1 and Q2 2023 Real Estate Report

August 29, 2023

Stunningly Scarce Inventory Sparks Market Impasse Kendall Q1 and Q2 2023 Real Estate Report. Kendall is not immune to the general Miami real estate market trend. Sellers are cautious about selling due to higher interest rates when purchasing their next home. Buyers are prudent in buying for the same reason.   This creates a market where the smart dollar is what will prevail. What I mean is, that inventory is so low now that the days of buying sight-unseen are in the rearview. As per our [...]

Miami Real Estate Market Reports News - Kendall Q3 2023

Rock Solid Condo Market Fueled by Cash | Surfside and Bal Harbour Q1 and Q2 2023 Market Report

August 29, 2023

Rock Solid Bal Harbour and Surfside condo market fueled by cash Surfside and Bal Harbour Q1 and Q2 2023 Market Report. The Bal Harbour and Surfside condo market is very limited in its geographic size and number of units (currently less than 140 units for sale), compared to other condo markets on the beach like Miami Beach and Sunny Isles (respectively 700 and 340 units for sale above $500k). We always begin our market analysis with a close look at inventory levels compared to the market [...]

Miami Real Estate Market Reports News - Bal Harbour News - Surfside

South Miami Is Still Climbing! | South Miami Q1 & Q2 2023 Market Summary

August 29, 2023

South Miami Q1 & Q2 2023 Market Summary. So half of 2023 has officially flown by and here’s how I see the market today. Firstly, we still remain at record lows for inventory in South Miami. Inventory is around 2 months so we are still ways away from a balanced market where you would typically find inventory anywhere from 6-8 months. We are now seeing all of the new construction products entering the market above $1,000 per SF with highs in the $1,200/1,300 per SF [...]

Miami Real Estate Market Reports News - South Miami Q3 2023

Timing the Turn: Edgewater’s Condo Market Pivot | Edgewater Q1 & Q2 2023 Market Summary

August 29, 2023

Edgewater Q1 & Q2 2023 Market Summary. Edgewater Miami's real estate landscape is experiencing dynamic shifts, offering buyers and sellers an intricate market to explore. Although the inventory levels are balanced, currently holding 6.18 months of supply, it is crucial to understand how the new construction pipeline will impact these supply levels.  The current average price per square foot is $632, a 5% decrease from 2022. A standout trend is the significant surge in transaction volume in Edgewater. This growth, exceeding 90% from the previous [...]

Miami Real Estate Market Reports News - Edgewater Q3 2023

Surprising Trends and Remarkable Shifts | Brickell Q1 & Q2 2023 Market Summary

August 29, 2023

Brickell Q1 & Q2 2023 Market Summary. As the Brickell and Brickell Key condo market continues to undergo remarkable shifts, a question emerges: Who holds more leverage, buyers or sellers? As the market continues to overcome the challenging macroeconomic landscape, this success story is not uniform across all Brickell and Brickell Key, as certain pockets struggle with a surge in inventory levels, leading to prolonged periods for properties to secure buyers. The evolving market conditions have prompted discernible shifts in the behaviors of both buyers [...]

Miami Real Estate Market Reports News - Brickell Q3 2023

Downtown Miami’s Market Shifts and Investor Caution | Downtown Miami Q1 & Q2 2023 Market Summary

August 29, 2023

Downtown Miami Q1 & Q2 2023 Market Summary. In Downtown Miami, a transformative journey is unfolding, echoed by shifting market dynamics. The current inventory is 7.04 months, marking a substantial increase of over 55% from the previous year. This upward trajectory in supply has been accompanied by an average price of $577 per square foot, reflecting a noteworthy 6% uptick compared to the prior year. As we delve further into the market, we notice that the transaction volumes suffered a 27% decrease from the previous [...]

Miami Real Estate Market Reports News - Downtown Miami Q3 2023

Sellers Becoming Increasingly Realistic as Inventory Levels Rise | Miami Beach Q1 & Q2 2023 Market Summary

August 29, 2023

Q1 & Q2 2023 Miami Beach Market Summary | Single-Family Homes Miami Beach Q1 & Q2 2023 Market Summary The Miami Beach Family Home market is a tricky market that experts are trying to grasp as best as they can. Signs point towards a market that should be cooling however some sectors of the market continue to see record-breaking prices. For example, the luxury sector average sales price is up 11.6% from Q2-2022 despite the following factors: The number of sales is down just over 50% Up to 33 months [...]

Miami Real Estate Market Reports News - Miami Beach Q3 2023

Standing Strong against Mortgage Roller Coaster | Fort Lauderdale Q1 and Q2 2023 Real Estate Market Report

August 28, 2023

DIVE INTO OPPORTUNITY: Fort Lauderdale's Real Estate Market Holding Strong Fort Lauderdale Q1 and Q2 2023 Real Estate Market Report. As a seasoned real estate practitioner keeping watch on the Fort Lauderdale property landscape, it's apparent that the economic bedrock of Fort Lauderdale and Broward County remains steady despite the increasing lending rates. Buyers and Sellers searching for market confidence can anchor themselves in the robust economic indicators contributing to a thriving local economy. View our Fort Lauderdale Neighborhood Statistics Page Economic Insights The undeniable [...]

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