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 […]
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 […]