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Latinos Contribute to Miami's Continued Strong Appetite for Real Estate
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Latinos Contribute to Miami's Continued Strong Appetite for Real Estate Inflation and rising interest rates will affect the South Florida real estate market in 2023, but it will still remain strong thanks in part to foreign buyers, mainly from Latin America, who were number one in 2022, according to specialists consulted by EFE. “The generalized rise in prices, a lowe...

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International home, condo sales here jump 34%
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International home, condo sales here jump 34% South Florida international home sales and dollar volume jumped 34% year-over-year in 2022, according to a report from the Miami Association of Realtors and the National Association of Realtors. Foreign homebuyers spent $6.8 billion on South Florida residences in 2022, up from $5.1 billion in 2021.....

North Miami office building hits market for $45M
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North Miami office building hits market for $45M In Miami-Dade, office asking rents rose 8 percent in the third quarter, year-over-year, to $47.85 per square foot from $44.35 per square foot, according to a Cushman & Wakefield report. Vacancies dropped to 17.4 percent in the third quarter, from 18.2 percent in the same time period of last year, th...

Miami Tops List of Hottest Rental Markets
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Miami Tops List of Hottest Rental Markets Miami was the most competitive rental market this year, according to a new report from RentCafe. RentCafe analyzed the 135 largest markets in the U.S. where data was available, examining metrics including the number of days apartments were vacant, what percentage of rentals were occupied, the number...

Rentals in South Florida are still overvalued but price hikes cooling
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Rentals in South Florida are still overvalued but price hikes cooling In the 100 largest housing markets nationwide reviewed in the university study, 68 had decreases in rental rates in October from September, with the highest being in Springfield, Mass. The median price for a one-bedroom rental in Boca Raton was $2,078 last month, which is a decrease from October and...

Residential rental demand in Miami stays hot
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Residential rental demand in Miami stays hot The median rental rate for a one-bedroom home is $2,373, a two-bedroom is going for a median rate of $2,962, and three-bedrooms are listed at around $3,700, according to a Miami Association of Realtors update-to-date statistics data report for the Miami rental market. Even though inventory will rema...

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Broward County Market Update

A. SOFIA BLANCO A. SOFIA BLANCO is a real estate agent with Avanti Way Realty. Check out A. SOFIA BLANCO's listings or office listings.

South Florida home sales projected to hit second best level in 2022 and to strengthen in 2023
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South Florida home sales projected to hit second best level in 2022 and to strengthen in 2023 As of the first three quarters of 2022, closed sales in the South Florida counties of Miami-Dade, Broward and Palm Beach contracted by 16% compared to the level in the same period in 2021, slightly more than the 13% drop in the Florida market. Improving economic conditions marked by slower inflation...

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Miami home prices forecast to rise in 2023
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Miami home prices forecast to rise in 2023 Driving the news: South Florida housing prices are expected to rise 3.4% in 2023, according to a new Realtor.com forecast released this week. The report predicts average mortgage rates of 7.4% next year, with a drop to 7.1% by year-end. Yes, but: Expensive as homebuying is, rents are predicted to ri...

More rental and mortgage help available
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More rental and mortgage help available Miami, Fla. – Palm Beach and Miami-Dade counties are offering rental and home buying assistance for people struggling to pay rent and facing eviction, and those seeking to purchase their first houses. In a partnership with financial institutions including Bank of America, Chase Bank and OneUnite...

Miami predicted to be world's second-best luxury market in '23
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Miami predicted to be world's second-best luxury market in '23 In fact, the high-end housing market is expected to see 5 percent price growth next year, according to a new report. The report anticipated a cooling luxury market overall, with average price growth of just 2 percent, down from the 2.7 percent previously predicted by the real estate consultancy. Kni...

South Florida home prices keep rising by double digits, defying higher interest rates
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South Florida home prices keep rising by double digits, defying higher interest rates That’s despite a decline in total annual home sales and the highest inventory of homes available this year in the region, in addition to interest rates more than double last year’s level. Story continues Indeed, the inventory of houses to buy in Miami-Dade reached a 3.7-month supply in October ....