In the most recent sales report from NAR (National Association of Realtors) places Miami as ranked 2nd behind Los Angeles and Fort Lauderdale as ranked 8th behind New York City for International home shoppers. The top 10 were: #1-Los Angeles #2-Miami #3-Las Vegas #4-Orlando #5-Detroit #6-Houston #7-New York #8-Fort Lauderdale #9-San Francisco #10-Chicago Sunny South Florida Real Estate has always been popular with people from all over the world. People wanting a vacation home or investment property have been flocking here in greater numbers and 2014 has been no exception. Fort Lauderdale Real Estate International home buyer is coming from Canada, Brazil, United Kingdom and Germany. The Miami Real Estate International home buyers are coming from Brazil, France, Mexico, United Kingdom and Argentina. With combining both Miami and Fort Lauderdale the metropolitan area ranks first for International home buyers. Four states - Florida, California, Arizona and Texas account for more than half of all the United State sales.
Well with Spring behind us and the start of Summer it looks like the Miami-Fort Lauderdale Metropolitan area will continue to heat up for home sales. In the latest sales data for the area in the month of June shows 4,341 closed sales which is up 12.2% from June 2013. The buyer paying with cash was also up with 1,817 homes accounting for almost 42% of all sales. South Florida leads the nation in cash sales as both domestic and international home buyers are investing here. The median home sale price for the metropolitan area is $275,000 and up 5.8% from last year. There was one area that somewhat bucked the trend and that is the overall days on market actually rose from 40 days in 2013 to 44 days in 2014. The main reason for the increased days on market is from a slight increase in inventory which is giving some home buyers more to choose from. The one area that really looks promising is the amount of short sales has fallen by 42.7% and that is finally helping the median home price values.
Buying or Selling in Berkley South call Real Estate Keith Hasting Located at 3015 N. Ocean Blvd is the Berkley South tower and is one of the best deals on Fort Lauderdale Beach. With one and two bedroom condos and resort style amenities this is proof you can still live on the beach without breaking the bank. Prices start at $250,000 and go up to $425,000 making this hard to beat for oceanfront living.
One of the most desirable addresses on Fort Lauderdale beach is the amazing Sapphire Condominium tower. Yes chic and hip and one of Fort Lauderdale's condo towers that gives Miami's best a run for their money. As of May 3rd there are currently six listed units for sale ranging from $449,000 and going up to $669,000 in price. To be honest these prices seem fairly reasonable and like a deal when evaluating the past years sales and our current upwards move in prices. If you want more information, more photos or to schedule a viewing call Keith Hasting today. Looking to buy in Sapphire? Looking to sell in Sapphire ? Call Keith Hasting as nobody knows or loves the Sapphire like he does.
Yet another "Best of List" that Fort Lauderdale made this time being ranked in the "Top 10 Best Downtowns" in the nation by Livability Magazine. The new high rises are attracting new residents from all over and giving the Fort Lauderdale real estate market a whole new feel. Luxury condos with resort like amenities and new shops and places to dine and go out help attract young and educated condo owners. Coming in at an impressive number seven on their list and something that was unimaginable even ten years ago. Yes downtown Fort Lauderdale has come to life with the perfect mix of culture, arts, shopping, dining and a huge increase in business and now new residents. The next ten years look even more exciting as there are currently seven large construction projects going up (count all the cranes in the sky ) and other 30+ projects planned and approved. Yes we can now work, play and LIVE downtown as their is a true sense of community.
Well this ranking of the top US cities to live won't surprise anyone that has lived ( or visited ) the Fort Lauderdale area. Forbes magazine gathered data on employment, housing, and economic factors to come up with the list. Fort Lauderdale came in at #13 out of 20 and is poised to prosper and was forecasted with a bright future. With a combination of tourism, excellent weather and an increase focused on diversifying the business climate Fort Lauderdale and Broward county are positioned to excel. The recent expansion and construction of the Fort Lauderdale-Hollywood International Airport will easily bring more visitors to the region. Southwest airlines recently announced that the airport will be a new hub and their choice for International routes that will have its eyes on rivaling Miami International airport. New jobs are estimated to be at least 1,500 at the airport expansion. JetBlue, Spirit and Delta have also announced expanded routes. Construction is back and in four new high rises being built at the moment downtown and another dozen proposed. Driving east along Sunrise Blvd. there are another 400 luxury rentals being built as well new buildings sprouting up along Federal Hwy.
US home builders broke ground on new homes at the fastest pace in more than five years showing that the economy and consumer confidence in gaining strength despite higher mortgage rates. The commerce department said that developers had begun construction on new houses and apartments in November at a adjusted annual rate of 1.09 million. This reflects a 23 percent gain from the previous years 889,000 and the fastest pace since the recession began. Construction has bounced back in South Florida as there are projects of both small and large in all three counties. With a combination of both local and out of state buyers the greater Miami-Fort Lauderdale real estate market is really poised to see gains in both the condo and single family home market. Buyers from South America and Europe have been giving an extra boost unlike most other US cities.
Well the housing market has truly changed tremendously in 2013. This past year we have went from a buyers market to a strong sellers market. Gone are the days of buyers having leverage and beating down sellers. Home prices have continued to edge up and are now at $265,000 based on a county wide average. This number reflects a 29% increase from 2012 and at least for the moment shows no sign of slowing down. With these numbers it is fair to say that home prices will break the $300k threshold in 2014. If you have looked on Realtor.com it already appears that the $265,000 average seems well below as sellers have really took advantage of listing high. This really comes back to if you have thought of selling in the past but have waited you should strongly think about listing now. Call Keith Hasting for a free home evaluation and see if listing now is the right time. Chances are there is a buyer (or should we say buyers as there have been bidding wars) for your home now!