Southeast Florida’s Million-Dollar Sales Rose 4% in 2025 Q1
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Single-family home sales in the first quarter declined 1.3% from one year ago, but sales rose in Palm Beach County and in Broward County. Condominium/townhome sales fell 10.2% overall and declined in all counties. While overall sales declined, million-dollar sales rose 3.7%. Majority of […]
Port St. Lucie Ranks No. 1 Among Top Southeast Florida Zip Codes People Moved To in 2024
By Gay Cororaton, MIAMI REALTORS Chief Economist There are various data sources that track migration, and while all these sources are excellent and reliable sources for understanding flows, there are limitations to these data. Public data sources such as the US Census Bureau’s American Community Survey and the Internal Revenue Service[1] migration flows […]
2025-2026 Southeast Florida Housing Outlook: Modest Home Sales and Price Growth
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Mortgage rates could fall to 6.3% by year-end amid rising economic risks. Single-family home sales will modestly increase in 2025 with high-income buyers driving growth. Single-family home prices will continue to appreciate at below 5% with inventory hovering at 6 months’ supply. Access […]
Migration to Miami-Dade Remains Higher than Pre-Pandemic
By Gay Cororaton, MIAMI REALTORS Chief Economist Key takeaways Out-of-state driver license exchanges in Southeast Florida decreased in 2025 Q1 but were higher than the pre-pandemic levels in Miami-Dade County and St. Lucie County. Despite recent declines, the number of out-of-state driver license exchanges from New York, California, New Jersey, Texas, and […]
Southeast Florida Home Equity Surges in Q4 2024
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways Southeast Florida’s rapid price growth has created significant wealth for homeowners, with 90% of home equity due to price appreciation. Miami-Dade County has the highest expected home equity over a 15-year period, at $555,900 on a typical single-family home (vs. $306,600 nationally) and […]
Miami Condo Prices Rise 8% With Highest Increase in Upper Price Tier
By Gay Cororaton, MIAMI REALTORS Chief Economist Key Takeaways The median single-family sales price in Miami-Dade County rose 0.8% in February 2025 from one year ago, with prices up in 72% of areas, with the fastest increase in million-dollar markets. The median condominium/townhome sales price in Miami-Dade County rose 8%, with prices up in […]
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 […]