Miami is ranked 123rd on the Best Places 2024-2025 list and has a population of 461,672. The city has a median home price of $448K and a median household income of $64K....
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Las reducciones de precios en la vivienda de EE. UU. están aumentando, pero los expertos dicen que se necesitan recortes más profundos para equilibrar. A principios del tercer trimestre se alcanzó un máximo de dos años en reducciones de precios, con el 18.9% de los anuncios reduciendo precios....
Condominium owners in Florida, particularly on Key Biscayne, are facing increased costs due to mandated safety improvements and higher insurance rates. By January 1, 2025, all condos over 30 years old must complete a Structural Integrity Reserve Study, leading to higher monthly fees and special assessments for necessary repairs. Many residents, especially seniors, are considering selling their units as...
Predictions for the Miami real estate market in 2025 indicate significant growth, with median home prices expected to rise by 6.5%, and single-family homes by 9.7%. Mortgage rates may drop to around 5%, enhancing affordability. The luxury condo market is thriving, particularly for properties over $1 million, which have surged by 122.2% since pre-pandemic levels. Despite inventory shortages creating a...
Initiate discussions with lenders up to 120 days before renewal to compare rates and secure the best termsExplore options beyond your current lender to ensure you're getting the most competitive rate....
Miami attracts wealthy buyers despite ↓ 11% in avg home prices recently. Miami’s vibrant culture, strategic location, and global finance hub status enhance its appeal to affluent buyers....
Miami ranks first in US home price appreciation, especially for properties over $1M. Sales of $1M+ condos in Miami jumped 6% yearly in July 2024....
The South Florida condo market is facing a crisis as stricter regulations take effect, leading to a 7% drop in sales across Miami-Dade, Broward, and Palm Beach counties. The number of condos for sale surged by 60% in Miami-Dade, impacting values. New state laws, prompted by the Surfside collapse, are causing concern among owners about potential assessments and financial responsibilities. Experts predict...
The Federal Reserve has cut its key interest rate for the first time in over four years, reducing it by half a point to approximately 4.8%. This move is expected to lower mortgage rates, benefiting home buyers and potentially supporting home prices in South Florida. However, the condo market faces challenges due to falling prices and new structural inspection requirements. While the rate cut may...
Miami's >$1M condo sales rose 6% yearly in Early-Q3 2024, reaching 142 transactions. Miami-Dade County experienced a 4% increase in total home sales, driven by single-family and luxury condos....