April 18, 2024

Illuzzi Letter

Envisioning And Creating Your Dream Home

Miami Real Estate Market Is Returning to Normal

After a twist and turn situation from the recent year, Miami-Dade real estate because of having a strong sellers’ market has returned to a normal or balanced state of business.

Its property is selling all over the beach, in the city and in the country. Still the prices are not falling. There has been a great deal with its property, the inventory has actually increases, and sales are also increasing. The overall selling in Miami-Dade real estate market certainly went back to normal.

And this is actually a great thing for Miami-Dade real estate market. Actually, Miami -Dade is one the most wonderful and fast growing markets in the world.

Ruth Carrington, a Realtor with Buy the Beach Realty in Miami Beach stated that the slow down of the sales for the past was due to the panicking situation made when the properties were not sold in less than a week unlike the sales being made for the past months. Buyers quit hesitated in buying but prices are still stable and they are closing property in a bricks manner.

Carrington have seen better improvements in the sales pattern and the buyers’ attitude, they seem to have moved from the recent slow down period. Actually there was been sales done recently, like a $400,000 condo on the beach and a waterfront units for about $1 million. Actually things in Miami-Dade real estate are now stabilizing and people are remembering that real estate is a long term investment.

Now, buyers and investors are happy knowing that Miami-Dade real estate market is retuning to normal. Actually the 28-29 percent return on investments that lasted for several years was not going to last forever.

Since things in real estate are soon picking up, the real estate market will be better now for the next years to come. To buyers and investors who are searching for the best place in the US, Miami is still one of the great places they can find. And to buyers and sellers they will still see real estate as a solid investment, and realize that Miami will be the best place they wanted to live and invest with.

In some researches proved that there are no real estate bubbles bursting in Miami or in any other places. Actually, there are heaps of people who moved out and went to Florida last year than to any other state.

In addition to that, in Miami a lot of luxury hotel projects on the beach are increasing, since the occupancy in Miami Beach room rates are about 80-85 percent compared to only about 60 percent to other resorts.

A lot of tourists and visitors come to Miami to have fun and relax and enjoy the beauty of Miami. In fact, other would love to buy their second or maybe third home in Miami real estate.

Buyers are not worried about the prices of the Miami real estate, what really matter to them is the beauty and fascination Miami has to offer to them. There are about 2,000 people who moved to Miami in a month and about 50,000 units are being engaged for two years. However, not all 2,000 people who moved to Miami are rich, so spend much time searching for a property that they can afford to buy, but this won’t caused any crash on real estate, actually Miami is the city that is more protected from crash.