Miami-Dade County Continues to Rank No. 1 in International Migration
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways: Population rose at a faster pace than nationally in the Tri-County area due to net international migration. Miami-Dade had the largest net international migration; Broward County was 5th largest; Palm Beach County was 13th In St. Lucie County, net domestic migration drove the growth in […]
Cash Buyers Account for 75% of Southeast Florida’s Vacation Home Sales
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways: Miami Beach is the second largest vacation home market in the United States and is the largest vacation home market in Southeast Florida. In 2024, the dollar sales volume in the 25 Southeast Florida vacation home markets rose 7% as the median sale price […]
Cash Buyers Account for 75% of Southeast Florida’s Vacation Home Sales
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways: Miami Beach is the second largest vacation home market in the United States and is the largest vacation home market in Southeast Florida. In 2024, the dollar sales volume in the 25 Southeast Florida vacation home markets rose 7% as the median sale price […]
Homesteaded South Florida Homeowners Received $5,000 in Tax Savings in 2024
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways Florida’s homestead law enables a homeowner who uses the property as a primary residence to apply for a homestead real property tax exemption and to avail of the Save our Homes (SOH) assessment limitation and the portability of the SOH assessment benefit when […]
Miami-Dade Condominium Sales Prices Rise for 5th Consecutive Month
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways: Miami-Dade County’s condominium median sales price rose for the 5th consecutive month to 2.3% in January 2025 The median condominium sales price rose in 69% of Miami-Dade markets , including the city of Miami and Miami Beach. Prices have increased due to the higher […]
Southeast Florida’s Spring Market is More Favorable for Buyers with More Housing Supply
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways: Active inventory for single-family homes is at 5 to 6 months’ supply in the Tri-County area, reflecting a healthy balance of demand and supply. Sellers are more willing to offer discounts, typically at 5% to 6%, in the Tri-County area. Despite the buildup in […]
Miami-Dade County’s Job Growth in 2024 Q3 Outpaced the US and the 10 Largest Counties
By Gay Cororaton, MIAMI REALTORS Chief Economist Miami-Dade County led the largest 10 counties in terms of employment growth in 2024 Q3, with employment up 1.7% nationally, surpassing the national rate of 0.8%, according to the latest US Census Bureau’s Quarterly Census of Employment and Wages statistics. [1] Miami-Dade’s County employment growth is […]
Southeast Florida’s Asking Rents Poised to Continue Rising in 2025
By Gay Cororaton, MIAMI REALTORS Chief Economist Here are our key takeaways in our January 2025 Southeast Florida Rental Market Report that you can download HERE. Southeast Florida’s asking rents start 2025 on a upswing. Asking rents rose 2.6% from one year ago in the Miami Metro area and 5.7% in the […]
South Florida Commercial Real Estate Sales Volume Rose 36% to $12.5 Billion in 2024
By Gay Cororaton, MIAMI REALTORS Chief Economist In 2024, total commercial sales volume rose 36% to $12.5 billion on a combined basis in the counties of Miami-Dade, Broward, and Palm Beach, a strong rebound following a 2-year decline. Sales volume rose in all counties: Miami-Dade (+24%), Broward (+54%), and Palm Beach (+44%). Sales […]
Southeast Florida’s Hot Housing Markets in December 2024
By Gay Cororaton, MIAMI REALTORS Chief Economist Hot housing markets have rising sales, rising prices, tight inventory levels (6 months’ supply or less), and properties that sell more quickly. Affordability, proximity to the urban core, and demand by wealthier buyers appear to be driving the sturdy demand in these hot markets. Based on […]