Miami Outperformed the Beach in the First Quarter of 2015

Posted on 20 Apr 2015 in Miami What's New | 1 comment

Douglas Elliman just published their 1Q 2015 Real Estate Market Reports covering Miami, Fort Lauderdale, Boca Raton, and Palm Beach.

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We’re now in the thick of the spring market. To look at how 2015 has been shaping up, Douglas Elliman published our first quarter research on the South Florida real estate market. A market snapshot, or market selfie, if you will.

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The Miami Mainland outperformed Miami Beach as sales rose higher than a year ago. Condo prices were way up in both markets as new product – skewed towards the upper end – actually closes. Lower priced distressed sales fell sharply across the region also helping overall housing prices rise. In Miami Beach, sales of distressed condos (foreclosures and REO) fell 48.7% and single family distressed sales fell 71.4% from last year.

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Outside of Miami, Boca Raton saw a strong luxury market and falling inventory, somewhat unusual for the region. Fort Lauderdale market was generally stable while Palm Beach continues to remain unusually tight with the combination of rising sales and falling inventory.

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See the full report here

One comment

  1. Zaylin / March 1st, 2017 2:20

    Delurking here to say hi! Love your blog. You’d think that since I have a blog myself and LOVE comments that I would be better about delurking more often! Sorry. I am now here and accounted for and promise to comment more! Oh…and I read the joke again as soon as I saw the word Miissssippi and BEFORE I read that I would owe you 5 bucks if I did so! You are one smart cookie!

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