For those looking to keep track of South Florida's real estate market, this post is for you!
Our company's latest market report, covering trends seen across Miami-Dade, Broward, and Palm Beach counties is now available for review. It manages to be both easy to read but also dense, academic and thorough on most price points and property types. For the past several years, it has been an indispensable source of data for us.
You can find a free, digital copy on the link below :)
For those looking to buy and sell over the next six-twelve months, I highly recommend reading the report in its entirety and at least a handful of times on the sections covering the areas of South Florida that are of interest to you. With that said, below are a few key highlights that I wanted to bring to everyone's attention:
- Interest rates continue to dominate our conversations as the year begins. Page 5 of the report shows a very insightful example of how rate increases can negatively affect a buyer's buying power and ability to seek higher loan amounts.
- Florida remains the second fastest growing state when it comes to population, second only to Texas. As a whole, the state continues to gain approximately 1,001 new permanent residents per day. You can find more data and how Florida compares to other states on page 7 of the report.
- Over the past twelve years, the median sold price of single family homes and condos in Miami-Dade County have increased 310% and 351%, respectively. I strongly recommend reading page 8 and 9 to review the months of inventory available during that time period.
I hope this offers the most comprehensive, most detailed reporting on what to expect for the first few months of this year. For more than one reason, I expect 2024 to be an eventful year for our real estate market.
Thank you for reading our latest post! For more information regarding this property or other Miami real estate, please contact us today! We can be reached at 305.674.4127 or via e-mail at [email protected]