Real Estate News by Home Miami REALTOR® - March Edition

Dated: March 21 2021

Views: 33

As one broker recently told us, “It’s a great day to be a real estate agent in South Florida. Why? Because  South Florida’s Real Estate Market Is Now Officially In Super-Boom Mode and everyone wants their own piece of the Florida paradise. 
Examples of South Florida’s super-charged market are everywhere, and you really don’t wanna miss the highlights. So...Keep reading.

1)South Florida is seeing a crush of new housing buyers. So much so, it has created a seller’s market with many sellers getting top dollar. People from all over the Northeast in high-tax areas are making an effort to make South Florida their new home. snow and high taxes he and his family are ready to move south.

2)Since COVID hit, potential home buyers realized they don’t need to go to the office building to work – they can do it from home. Realtors are now seeing those buyers looking for more house than they need.  Those who were looking for four bedroom homes want homes with dens or a fifth bedroom they can convert to an office.

3)Miami Real Estate Selling Close to List Price. The median percent of original list price received for single-family homes was 96.8% in January 2021, up 1.3% from 95.6% last year. The median percent of original list price received for existing condominiums was 94.3%, up 1% from 93.4% last year.

4)In our seller’s market, homes sell faster, and buyers must compete with each other in order to score a property. Inventory is low and demand is high, leading to some homes being on the market for only hours with competitive bidding.
With a good realtor and some preparation, you can be ready to win a bidding war every time.

Low inventory and rising prices will continue for the foreseeable future. Miami market is really hot!

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Luz Abreu

Home Miami, Realtors is a Florida-based brokerage team dedicated to helping our clients make their homeownership goals realities. We believe in providing honest advice and personal service for success....

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