Currently there is a shortage of inventory in Miami. Home and condominium buyers are finding a great deal of competition in the current sellers’ market. Multiple offer scenarios are back as well as properties selling over list price. However, there are limits and we are seeing some sellers price their properties well over comp value which has not been an effective strategy. Properties that are priced in line with current trends are selling but the properties priced well above market are becoming stagnant and buyers are taking note.
Although we may be in a sellers market, buyers have become much more informed as their access to information has dramatically improved via websites such as zillow, trulia realtor.com and floridamoves.com.
We have experienced a great deal of foreign investment here in Miami which has cleared out most of the existing inventory and the demand continues to increase. The Miami Herald recently reported a substantial rise in home prices and sales in September. There were 1,108 closings in single family homes in Miami- Dade and 1,352 closings in condominiums this past month. We are excited to see the changes in South Florida real estate market as we approach the season.
To read more about the change South Florida home prices and sales in September visit the link below
To visit my website, click the following link: Danny Hertzberg.
A few months back I had the honor of showing my good friends, Jared and Stacey Galbut, three gorgeous real estate properties around Miami.
As we checked out these fantastic locations and the equally amazing neighborhoods that surround them we were joined by a great film crew. With the footage that the crew was able to get, HGTV’s new series “The Perfect Place” was born and the first episode airs tonight!
Please tune in to HGTV at 5PM EST. I truly appreciate your support and I hope you enjoy watching “The Perfect Place”.
Again, the episode airs tonight at 5pm but if you just can’t wait that long, check out this sneak peak video!
Miami HGTV Channel guide:
Comcast: channel 61
Atlantic Broadband channel 57