Category: Market Update

Many of you have likely already heard that billionaire Jeff Bezos, Executive Chairman of Amazon, recently moved to Miami, FL. Although he purchased two mansions in an area known as “Billionaire Bunker”, we are also seeing a trend of more billionaires buying ultra-luxury condos throughout Miami. Needless to say, the Miami condo market has heated… Continue reading Miami Condo Prices Rise As Billionaires Flock To South Florida

Rental prices in the United States have dropped for five straight months, according to data from the National Association of Realtors®. Average rents in the 50 largest metros dropped to $1,747 in the month of September. This is the first time that rental prices have declined for five consecutive months since 2010. An uptick in… Continue reading Rental Prices Drop For Fifth Straight Month

The Florida housing market in August 2023 remained strong, but showed some signs of cooling. Home prices continued to rise, but at a slower pace than in previous months. Meanwhile, the number of homes sold was also down, but only slightly. According to the latest data from Florida Realtors®, statewide median sales prices rose year-over-year… Continue reading Florida Housing Market Snapshot: August 2023

The purchase prices for homes over the last few years are not the only ones that have been rising. Rental prices have also steadily risen across the nation. However, according to a recent report, this is no longer the case. As of March 2023, asking rents fell by 0.4% to $1,937 year-over-year. This marks the… Continue reading Rental Prices Drop

Move over millennials. This is the message received from the latest demographic survey conducted by the National Association of REALTORS® (NAR). For the first time in eight years, baby boomers once again make up the largest share of home buyers and sellers. This is quite a significant shift considering the percentage of the population that… Continue reading Baby Boomers And The Housing Market

Did you know? According to the Federal Housing Finance Agency (FHFA) House Price Index (FHFA HPI), U.S. home prices rose 8.4% year-over-year between Q4 2021 and Q4 2022. Not surprisingly, the rate of price growth has been slowing down substantially over the recent quarters and months. For example, when comparing Q4 2022 to Q3 2022,… Continue reading Housing Markets With The Highest Price Increases

After a historic run for the housing market for the latter part of 2020 and throughout 2021, we have seen a significant slowdown as of early 2022. Of course, with inflation hitting a 40-year high in early 2022, The Federal Reserve has intentionally risen rates thus impacting mortgage rates and the housing market. As a… Continue reading Pending Home Sales Report

Boca del Mar recent sales of single family homes for the most recent 6 months, as of Dec 23, 2022, range from $465,000 to $1,037,500. What’s currently for sale? Now that you know what has sold, here’s a list of what’s available for sale for single family homes located in Boca Del Mar… Where is… Continue reading Boca del Mar

Fueled by historically low mortgage rates and a large segment of the workforce transitioning to a virtual working environment, 2021 marked the highest level for housing market potential since 2007. For perspective, the average 30-year fixed mortgage rate was 2.9% for 2021. As of September 2022, this average rate has pushed to 6.1% and has… Continue reading The Outlook For Housing Market Potential