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Home Sales Rising in Parts of Florida
According to recent reports, the number of home sales that are taking place in Broward County, Palm Beach County, and Miami-Dade County is on the rise. This is good news for the area, as it flies in the face of the trends in other parts of the country, where people are starting to see slowdowns in sales. When you look at sales from May, there was a drop of 1.1% across the United States, but the counties mentioned above in Florida received increases that were from 3.6% to 6.6% when compared to the same time the previous year.
Why are there still so many sales in the area? There are a few things that are helping. Many people who are buying in the area are from the northeastern part of the country. Those new buyers enjoy the better tax laws that Florida offers, and they appreciate that they can find lower rates for their mortgages than they can in their home states. The fact that Florida also has excellent weather is just another reason that people are excited about buying in Miami and the surrounding areas.
Interestingly, there is also an increase in the amount of time that it is taking to sell properties in the counties mentioned above, even though there are more homes selling. In Palm Beach, the median number of days it takes to sell a property is 56 days, which is an increase of 9.8% from a year ago. In Broward County, it would take about 34 days to sell a home in 2018, where it takes about 43 days in 2019. In Miami-Dade county, it is taking 59 days to sell, which is 34.1% higher than last year.
What is it that is making it take longer to sell properties? There are any number of potential reasons. It might be more difficult for some people to get loans needed for the properties, for example. Another reason is that there are more properties from which to choose. All of this means that some homes will sit on the market for longer.
What is it that is making it take longer to sell properties? There are any number of potential reasons. It might be more difficult for some people to get loans needed for the properties, for example. Another reason is that there are more properties from which to choose. All of this means that some homes will sit on the market for longer.
Let’s look at Miami-Dade from last year to see why this might be the case. In May there were 2,796 properties for sale, which is 6.6% higher than the number of homes that were available in 2018. Broward County had 3,376 homes for sale, which was an increase of 5.9%, and Palm Beach had 3,323 homes for sale, which was an increase of 3.9%. All of the counties had more homes for sale, which means that potential buyers had to sort through more choices. Naturally, some properties will sit longer, which can skew the results.
Good News for Buyers
When you look at the numbers, you will also see that there are some increases in the number of sales for detached homes and condos. The Miami Association of Realtors reported that sales were up by 10.2% for home sales and 3.5% for condo sales in May of 2019. The mortgage rates tend to be reasonable compared with many other states, and when pooled with the additional benefits of living in Florida, including the great weather and all there is to do and to keep busy, it is no wonder that so many people are still choosing to make it their new home.
With the additional homes, it will mean good news for those who are looking to purchase a property. It means that you will have quite a few different options from which you can choose. Get in touch soon, so we can help you find the perfect place to call home in the Miami area. There are properties here that are ideal for your needs
Once you start to look into all of the various reasons that people have for leaving their home state and moving to Florida, you can see why it makes sense. Great prices, better taxes, a lot to do, and good weather. Who wants to stay in New York during the winter and who wants to deal with the outrageous cost of living in California? Florida is the place to go, and it does not seem like that will be changing anytime soon.
NEW EXCLUSIVE LISTINGS - GREAT DEALS!
EXCLUSIVE LISTINGS marketed by the Lana Bell Group. We use some of the most talented videographers and photographers to help us showcase our properties in a unique way.
SOTHEBY'S Exclusive Listings marketed by the Lana Bell Group.
Our team works with top pre-construction developers to present the best investment opportunities and developments in the area.
Acqualina Residences 1202
17875 Collins Ave, Sunny Isles Beach
Turnberry Ocean Colony 1102
16047 Collins Ave, Sunny Isles Beach
SALE / RENT
$2,599,000 / $15,000/mo
3 Bedrooms • 3 Bath
Living Area 2,214 Sq. Feet
NEW LISTING
Offered at $1,999,000
2 Bedrooms • 3 Bath • Den
Living Area 2,245 Sq. Feet
Majestic 502
9601 Collins Ave, Bal Harbour
Turnberry Ocean Colony 2302
16047 Collins Ave, Sunny Isles Beach
PRICE REDUCTION
Offered at $1,949,000
2 Bedrooms • 2 Bath • 1 Half Bath
Living Area 2,160 Sq. Feet
NEW LISTING
Offered at $1,699,000
2 Bedrooms • 2 Bath • 1 Half Bath
Living Area 2,245 Sq. Feet
Turnberry Ocean Colony 1103
16047 Collins Ave, Sunny Isles Beach
Turnberry Ocean Colony 1801
16051 Collins Ave, Sunny Isles Beach
Sold at $2,350,000
4 Bedrooms • 4 Bath • 5 Half Bath
Living Area 3,500 Sq. Feet
Under Contract at $1,900,000
3 Bedrooms • 4 Bath • 1 Half Bath
Living Area 2,775 Sq. Feet
57 Ocean - Miami Beach
Located on Collins Avenue in Miami Beach, this property offers incomparable views out over the Atlantic Ocean and the Intracoastal Waterway. It rises 18 stories over the white sand beach and was designed by Arquitectonica. The property offers units ranging from two to four bedrooms, and from just over 1,000 square feet to over 3,000 square feet. All residences feature 12-foot ceilings with wood-style accents, marble counters, and numerous other luxury touches.
Ritz Carlton - Sunny Isles
Well beyond the half-way point in construction, the Ritz-Carlton Sunny Isles offers luxury living in the heart of one of South Florida’s most exclusive areas. It is comprised of just over 200 condo units, all of which are beautifully designed and laid out. The building itself towers 650 feet over the surrounding beaches and water, with 250 feet of oceanfront all to itself. Choose from two, three or even four bedroom units, or one of the property’s four penthouses. Each floor contains no more than five residences, ensuring privacy and comfort.
Estates at Acqualina
The Estates at Acqualina condo in Sunny Isles Beach is a project by the Trump Group developer and the firm of Cohen Freedman Encinosa & Associates, the same people behind the original Acqualina condo and the Mansions at Acqualina. The building consists of a pair of 51 story towers located east of Collins Avenue with a position near the Atlantic Ocean and the city's namesake sands. Each tower has a total of 95 Sunny Isles condos for sale and the entire complex sits on just over five acres.
Paramount Miami Worldcenter
PARAMOUNT is an iconic, high end urban living experience in the center of Miami WorldCenter, second largest and most exciting urban developments in the U.S. At nearly 30 acres, Miami Worldcenter is at the epicenter of the city surrounded by over $3 billion of new public and private projects including mass transit, museums, parks, sports venues, entertainment and The Mall at Miami Worldcenter consisting of luxury retail and signature restaurants.
Things to Do in Miami in September
There are always great things to do in and around Miami. If you are going to be spending some time in the city as a visitor, or you already live here, check out some of the great options below.
Brazilian Film Festival
This will be the 23rd Brazilian Film Festival of Miami, and it will be held from September 14 through September 21. The festival will be taking place at several venues around the city, including the New World Center, Miami Beach Cinematheque, and Regal South Beach. There will be a wide range of films available across various sites.
Miami Trail Festival
On September 21, the Miami Trail Festival will take place on Virginia Key. There are trails for runners and bikers at the event, as well as a custom shirt for the participants, medals for those who finish, and more. There are also food and beverages that will be available at the end of the race. It can be a great day for those who like to get into the great outdoors and get some exercise.
Gridiron Glory: The Best of the Pro Football Hall of Fame
Those who love football will not want to miss out on the opening of Gridiron Glory: The Best of the Pro Football Hall of Fame on September 28. This will be located at HistoryMiami Museum and will be spread across a 6,000-foot exhibit space. The property will have many photos and artifacts from the sport including a game ball that is more than 100 years old, Tom Brady’s draft card, and Troy Aikman’s helmet, which he wore with the Cowboys in 1992.
Wynwood’s Octoberfest
Want to get a head start on Octoberfest? This is a great way to do it from September 27 to the 29th. It will be at the Wynwood Marketplace, where guests can find a beer hall, dog-friendly activities, food, entertainment, and more. It promises to be quite a bit of fun for those who attend.
As you can see, there will be quite a few things to help keep you and your traveling companions busy when you are in Miami in July. Whether you are looking for music, food, art, or anything in between, Miami can deliver. Even if you just want to get out and soak up the sun and the warm weather, there will be plenty of opportunities. Take some time to find things to do in and around the Miami area that you are going to love.
COMMERCIAL LISTINGS
Over the last several years, the South Florida commercial sector has shown steady growth and influx of investment from institutional investors. Here at One Sotheby's International Realty Sunny Isles Branch we strive on strategic partnerships which have the inside track to exclusive opportunities. We offer great commercial real estate opportunities available both on MLS and off!
LUXURY CONDOS FOR RENT
Check out our new ultra luxury condos for rent. We are offering refined hotel services and amenities. Our guests can expect the finest products and state of the art technology, from Bulgari bathroom amenities and Frette linens to temperature controlled wine storage and Wifi, daily housekeeping.
MOST EXPENSIVE HOMES
If you want a posh place to live and money is no object, Miami offers some of the most luxurious homes in the world. Check out our list of most expensive homes currently available for sale in the Miami area.
MOST EXPENSIVE CONDOS
Miami is an undisputed leader in luxury condos. Here you can view the list of most expensive condos currently available for sale on the market in and around Miami area.
MIAMI PENTHOUSES
Miami is known for it's most luxurious penthouses. Browse through the most luxurious real estate in Miami - Miami Penthouses and Tower Suites!
NEWEST HOMES FOR SALE
Stay on top of newest home listings in Miami. Here you can view the list of most recently added single family houses on the market in the Miami area.
NEWEST CONDOS FOR SALE
Stay on top of newest condo listings in Miami. Here you can view the list of most recently added condominiums on the market in the Miami area.
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18288 Collins Avenue, Suite 1
Sunny Isles Beach, FL 33160
Phone: 305.336-0457
lana@onesothebysrealty.com
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