The busy season for South Florida ends on 4/15 – like tax season more or less – and people visiting find hotel prices are going down and it’s more economical to stay here. The same could be said for local real estate. Properties are reducing prices as well as they see less and less people visiting the area. So it’s really a great time to buy! I know of terrific apartments that are in the $300-400K price point – one in Miami Beach, the other in Brickell in Miami, that are really priced well for the value and location.
Luxury apartments and houses are not going down much since the inventory is slim for expensive properties. Yet you can still get some gorgeous houses for under $1 million.
PWC in its new major US housing report names Miami/Fort Lauderdale/West Palm Beach as the 3rd highest target destination from migrating people from other cities in the United States.
The luxury real estate market was hit hard in Florida, and there is an oversupply of luxury homes. However, interest and sales are expected to rebound (From US and soon Canadian buyers as the Canadian dollar falls), and homes for sale in Fort Lauderdale, Naples, and Miami are expected to rise.
Miami is the country’s fourth most valuable housing market for 2018, according to a new report by Zillow.
According to “Curbed,” Trailing only Los Angeles (total value of $2.7 trillion), New York (2.6 trillion), and Washington (996.7 trillion), the total value of Miami’s housing market is an estimated $864.2 billion, which represents a solid 4.7 percent increase year over year.
However, that increase is slightly less than that of the entire U.S. housing stock, which received a 6.5 percent (or 2 trillion) boost this year. It represents the sharpest growth in home values since 2013.
Among the 35 largest U.S. markets, Columbus, Ohio showed the biggest gain, racking up a 15 percent spike in value over the past year.”
So whenever you’re ready to house shop, consider Miami and Miami Beach. The weather is beautiful all year round – though a little sticky in the summer — but the ocean water remains warm so you can always cool off on the beach. Dump those winter clothes and winter blues and get more light, sunshine, and outdoorsy lifestyle with kite surfing, biking, running, walking, Segways and skateboards all over.
There are other neighborhoods that are beautiful as well, including Surfside, Aventura, Bal Harbour, Golden Beach, Hallandale, Hollywood, and North Beach.
If and when you’re ready to shop around town if you visit and are thinking of moving South, give me a call. I’ll find the right home to got your budget. Call me at 9178825243.