News
NYC’s Wealthiest Flocking to Florida Even While Covid Rages
Lavish Florida retreats were a popular escape for rich New Yorkers riding out the Covid-19 lockdown. Now, many are rushing to make things more permanent even while the virus surges in the Sunshine State. Sellers in places like Miami and Palm Beach are getting flooded...
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Life in Palm Beach after lockdown: Demand for luxury homes sparks “pandemonium”
Palm Beach real estate agent Sonja Stevens listed a mansion on the island in late May, and within a few days received three offers, including one for the full $19.5 million asking price. Stevens, of Douglas Elliman, believes that the Palm Beach property — a main...
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With online buys, Doral warehousing in prime position
It may be too early to know exactly what effect the pandemic will have on commercial real estate in Doral, but experts say one segment may emerge particularly strong: the industrial market. With consumers buying online now more than ever, a trend only accelerated by...
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SoFla industrial market’s Q2 is strongest quarter in three years
South Florida’s industrial real estate market’s second quarter proved to be its strongest period in three years, according to a recently released report from Newmark Knight Frank. In the second quarter, South Florida’s industrial market saw a 51 percent uptick in net...
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Greater Miami Area Home, Condo Prices Rise 5 Percent Annually in June
Driven by strong demand and limited supply The Miami Association of Realtors is reporting this week that Miami-Dade County median home prices increased year-over-year in June 2020 as home sales continued trending upward despite the global COVID-19 situation. New...
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Researcher: The South Florida housing market sees highest overvaluation in eight years
The South Florida housing market is experiencing its highest overvaluation in eight years. Still, a housing crisis is unlikely, one expert said. Florida Atlantic University professor and real estate economist Ken H. Johnson found that homes in the Tri-County area were...
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From Aventura Mall with LOVE
A towering message of LOVE stands majestically at Aventura Mall – a reminder of our community’s resilience, what has kept us connected, and what is bringing us together again. The sculpture by American pop icon Robert Indiana is a focal point of Aventura Mall’s...
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Greater Miami Home Prices Continue to Rise in May as Sales Dip from COVID
Surging Pending Sales Reflecting Strong Market Rebound Ahead The Miami Association of Realtors (MIAMI) is reporting this week that Miami-Dade County median home prices increased year-over-year in May 2020 as home sales saw expected declines as a result of the global...
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Miami real estate recovery headed in the right direction
Housing markets with higher job creation pre-COVID-19 — particularly in the technology sector — are recovering faster than their non-tech counterparts, according to Realtor.com’s Weekly Housing Recovery Report. “As the market heads into the summer, growth in online...
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Miami condo sales bounce back
Condo sales in Miami-Dade last week reached pre-pandemic levels. A total of 123 condos sold for $51 million last week in Miami-Dade County. That’s compared to 75 units that sold for $31 million the previous week. Condos last week sold for an average price of about...
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Amazon wins approval to build massive facility in south Miami-Dade
Amazon secured approval to build what could be its largest distribution facility in South Florida. Miami-Dade County commissioners voted unanimously on Wednesday to sell a vacant lot at 13200 Southwest 272nd Street in south Miami-Dade to Amazon, according to the Miami...
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Low mortgage rates may drive home sales recovery
Nationwide mortgage rates are the lowest they’ve been in at least ten years, and such favorable financing may well be a driving force in the recovery of the real estate market in Miami-Dade, local experts say. As of June 18, the average interest rate in the US for a...
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