Miami Properties Average 41 Days on the Market

Miami Properties Average 41 Days on the Market in September

It could certainly be an annoying experience to have ready and able buyers with a shortage of inventory. The elite wealthy buyers usually don’t have so much trouble getting what they want but for the average buyer the competition is practically vicious. Even in some of the new developments, the best and most economical units are reserved in matter of days if not hours in some cases.  According to the last report for the Miami Association of Realtors one of the most encouraging signs from September’s data is the speed at which real estate is being sold in Miami, demonstrating a strong demand from buyers.

 The median number of days on the market for single-family homes sold in September 2013 was just over a month, 41 days, a decrease of 2.4 percent from the prior year. In addition, the average sales price was 95.9 percent of the listed price, up from 93.1 percent the prior year, indicating that homes are being priced right. 

Condominiums also sold at a rapid pace and close to their asking price in September 2013. Condominiums sold in September had been on the market for just 46 days. Meanwhile, selling prices for condominiums were 96.7 percent of the listed price last month.

It is not the seller but the market that determines the value of any given property. With such great demand for Real Estate, any seller who lists his property at market value will have no issues in selling fast here in Miami.

Call me now to schedule a complete presentation of any project in Miami. Please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com 

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

 

Defying Gravity: Miami Condos Soar Again

CNBC Reports on Miami Condos

Call me now to schedule a complete presentation of any project in Miami. Please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com 

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

 

All Cash Sales Another Emerging Pattern in Miami Real Estate

61 Percent were All Cash in Miami Dade During September

61 percent of total closed sales in Miami Dade during September were all cash sales according to the latest report of the Miami Association of Realtors. All-cash sales accounted for 47.7 percent of single-family home and 71 percent of condominium closings, compared to a year ago when cash sales were 42.6 percent and 76.5 percent of closed sales respectively.  
Since nearly 90 percent of foreign buyers in Florida purchase properties all cash, this reflects the much stronger presence of international buyers in the Miami real estate market.  By comparison all-cash sales nationally accounted for 33 percent of transactions in September, up from 32 percent the previous month and 28 percent in September 2012. This makes our local Real Estate market a much stable and solid investment if compared to the rest of the country.                        

The uplifting news for Miami that indicates our robust and healthy local real estate market does not end here. 
One of the most encouraging signs from September’s data is the speed at which real estate is being sold in Miami, demonstrating a strong demand from buyers. 

The median number of days on the market for single-family homes sold in September 2013 was just over a month, 41 days. In addition, the average sales price was 95.9 percent of the listed price, up from 93.1 percent the prior year, indicating that homes are being priced right. 

Condominiums also sold at a rapid pace and close to their asking price in September 2013. Condominiums sold in September had been on the market for just 46 days. Meanwhile, selling prices for condominiums were 96.7 percent of the listed price last month. 
 What fantastic news for investors and owners alike! Their properties are earning double-digit appreciation, being sold fast and almost at listing price! In fact, the best properties sometimes when multiple offers are on the table are sold for above the listing price.

Call me now to schedule a complete presentation of any project in Miami. Please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com 

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

 

Double Digit Appreciation Is Becoming the Standard in Miami Real Estate

Double Digit Appreciation Continues in Miami Real Estate

Miami Estate Market continues to surpass the expectations of most optimists! We all knew the market had to rebound sooner or later but I’m not sure if anyone was anticipating a double-digit appreciation for 22 consecutive months. September marked the 22^nd consecutive month where the median sales price for single-family homes and condominiums increased. 

Last month, the median sales price for single-family homes spiked by 18.4 percent, up to $225,000 from $190,000 in 2012, marking 27 straight months of growth. Similarly, the average sales price for single-family home increased 17.6 percent to $371,898.  Condominium prices also experienced strong appreciation during the same period. Compared to September 2012, the median sales price for condominiums again increased by double digits, up 21.3 percent to $181,875 from $150,000 last year.  The average sales price for a condominium was $315,813, up 14.1 percent from $276,767 the prior year.

Miami’s real estate market continued to boom in September as sales and listings grew by 4.6 percent and 23.3 percent, respectively, compared to 2012 according to the Miami Association of Realtors and local MLS.  

Single-family home sales rose to 1,108, up 21.8 percent, in September compared to 2012. Meanwhile, condominium sales grew 4.6 percent over the same period, from 1,292 in September 2012 to 1,352 condominiums sold in September 2013.

“The double-digit growth in the sale of single family homes is a sign that now is a great time for homeowners to sell,” said 2013 Chairman of the Board of the Miami Association of Realtors Natascha Tello. “The Miami real estate market continues to attract buyers from across the world due to the world-class amenities Miami offers coupled with the significant growth of the local real estate market over the last three years."

“The striking double-digit growth in the average and median sales prices of homes reflects strong demand and limited supply, sending a clear message that now is a great time to sell in Miami,” said 2013 Miami Association of Realtors Residential President Fernando I. Martinez. “Yet, the median sales prices continue to be significantly lower than they were at the height of last decade’s housing boom, which means buyers can still purchase great properties at affordable prices.”
 

The demand for Miami Real Estate is due to the fact
 Miami is not anymore just a paradise for vacations but the city is growing as an International strategic business center. The city of Miami is currently in a crucial time of transition becoming a more prominent and influential city at several levels.  More International banks and corporations keep coming to the city while the already established business Institutions continue to enlarge their operations here. Miami’s port will become even a more significant player as a strategic international seaport. The port is expanding its capacity and very soon will handle larger volumes of traffic.  The widening of the Panama Canal and the deepening of Miami’s harbor to accommodate larger ships will result in more cargo, business and generation of employment in our area.  Interest in Miami in general has elevated in all over the world, and the awareness of Miami as an international gateway continues to rise. 

Call me now to schedule a complete presentation of any project in Miami. Please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com 

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

 

Miami Attracting an Increasing Number of Asian Investors

Asians Buying Miami

An increasing number of Asians are joining the forces of foreign investors buying Florida real estate, according to a recent study conducted by the National Association of Realtors in cooperation with Florida Realtors.

Point in case, in past weeks, a Japanese real estate broker who represented 10 buyers facilitated the sale of 10 units at Nine, an under construction project in Mary Brickell Village. The Japanese broker stated he was planning to come back with more buyers within a month. Edgardo Defortuna, Nine’s marketer stated that a Chinese visitor recently signed up for a pre-construction unit at the Jade Signature condominium in Sunny Isles Beach. The architect on that project, Herzog & De Meuron, is well known in China, since the firm also did the National Stadium for the Beijing 2008 Olympics.

Along with Defortuna and Stephen Owens president of Swire Properties many experts agree that Miami is now on Asia’s radar since the awareness of Miami as an international gateway has grown. The U.S. unit of Hong Kong-based Swire Properties Ltd. is building Brickell CityCentre, a $1 billion undertaking that combines shopping, living, entertainment and work space that is expected to transform downtown Miami’s look and feel. Swire recently doubled down on its Miami bet with its purchase of the 700 Brickell building, where it plans to develop another nearly $1 billion investment, an 80-story, mixed-use tower as phase two of the downtown overhaul.

Institutional projects such as Swire’s and Malaysian giant Genting’s not only influence but also promote and will draw more corporate and individual Asian investors to the region.  Asians investors are also being drawn to Miami thanks to the efforts of the Association of Realtors that is working to promote Miami real estate to potential Asian buyers. In fact, the association recently signed a trade mission to market to Singapore and Hong Kong. The group is also planning to host a promotional TV program to be filmed by a Chinese TV crew and aired on GDTV, a popular real estate channel that reaches over 40 million viewers in the Guangdong province.

Asia and particularly China is still minor player but we have learned not to despise the small beginnings of the Asians. They simply know how to make it big in most fields of life. * Notes taken from Miami Herald.

Call me now to schedule a complete presentation of any project in Miami. Please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com 

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

 

Enjoyment of Art is a Lifestyle in One Ocean Miami

Enjoyment of Art is a Lifestyle in One Ocean

Enjoyment of art should be a part of your everyday life according to Jorge Perez, Related Group CEO.  With this philosophy in mind, Related Group brings real art to each of its projects. All art lovers will find a paradise in One Ocean where residents will be surroundered by the paints, photographs and sculptures of Jose Bedia, Michelle Oka Doner and Eugenio and Lautaro Cuttica. The designers and architects on this project are among the most elite in the United States and some of the distinguished designers Enrique Noten Enzo Enea, Daniel Azouley and Yabu Pushelberger. 

One Ocean South Beach Summary

Developer: The Related Group

Architect: Enrique Norten/TEN Arquitectos

Builder: Sieger-Suarez

Address: 1 Ocean Dr Miami Beach, FL 33139

Neighborhood: South of Fifth, Miami Beach Florida

Estimated Completion: 2014

Number of Units: 50

Number of Stories: 6

Bedrooms: 3,4,5, and penthouses

Units for sale available as of Today: Yes

Unit Sizes Floor plans: From 1886 to 3847 sq.ft. (175 – 357 M2)

The South of Fifth Neighborhood is one of the most coveted addresses in South Beach. Its’neighbors include incredible developments such as The Continuum, Apogee, Murano,and Icon South Beach. Additionally,the dining in South of Fifth is some of the finest in Miami with Prime 112, Prime Italian, Fogo de Chau and Milos in walking distance.

Brochure & Floor Plans for One Ocean

To know all the details about Centro and to download a brochure with floor plans go to http://www.JuanSolerRealtor.com/info/about/one-ocean-south-beach-miami-beach/

One Ocean Deposit Schedule

10% at Reservation

10% at Contract

15% at Groundbreaking

15% at Top-Off

50% Balance at Closing



Call me now to schedule a complete presentation of the project. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com Time is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

One Ocean Miami Animation

Enjoy this animation of the future One Ocean by Related Group.

To learn more about One Miami and download a brochure go to:

http://www.JuanSolerRealtor.com/info/about/one-ocean-south-beach-miami-beach/

Unit Sizes & Average Prices From 1886 to 3847 sq.ft. (175 – 357 M2)

The One Ocean condo building will be located at 1 Collins Avenue in the heart of world famous South of Fifth neighborhood. Each unit will have a private elevator, underground parking, and beach club privileges, among other amenities. A few will have a rooftop spa and solarium. The average size of a unit will be 3,000 square feet; prices will be $1,000 to $2,000 a square foot.

Call me now to schedule a complete presentation of the project. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com Time is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

Updated Inventory of the Greenest Building in Town: Le Parc at Brickell

Updated Inventory at Le Parc at Brickell

Come and experience a greener lifestyle at Le Parc at Brickell. There are still some great deals if you are interested in this project. Here is the current inventory at the Greenest building in the area as of October 17th.

Quick Facts about Le Parc

Community: Brickell Downtown Miami

Location: 1600 SW 1st Ave Miami, FL 33129

Building architect: Luis Revuelta

Views: Simpson Park looking out towards Biscayne Bay and Brickell.

Estimated Project completion Date: December 2014

Total condo residences: 124 / Studio, 1, 2, 3 bedrooms condos and two-story townhomes.

Number of Stories: 12

Le Pack residence Floor plans size: 576-1968 Sq. Ft

Pet Friendly: Yes

Condos for sale estimated price range: Preconstruction prices range from $250,000 to $700,000 (about $400 per square foot) All prices are subject to change without notice.

More Info on Le Parc at Brickell

To know more about Le Parc at Brickell and also to download a brochure of the project go to

http://www.JuanSolerRealtor.com/info/about/le-parc-at-brickell-miami-condos/

Le Parc Deposit Schedule

10% at Reservation

10% at Contract

20% at Groundbreaking

10% at Top-Off

50% Balance at Closing



A Greener Lifestyle in Miami

The building is the first eco-friendly development in Miami featuring: LED certified energy efficient appliances, electric car-charging stations, eco-inspired natural finishes and wall coverings, high efficiency AC units, insulated and UV-blocking glass window. Le Parc at Brickell will offer residents the convenience of a “big city” lifestyle along with the serenity that comes with living across from eight acres of protected botanical gardens, nature trails, and exotic vegetation found at the historic Simpson Park.

The building will feature interior design by Ligne Roset, gated entry and secure parking garage, 24-hour security monitored surveillance, security card key access, WIFI throughout the common areas, café station at lobby,  club & entertainment room, kid’s entertainment room, outdoor summer kitchen and private storage.

Call me now to schedule a complete presentation of the project. For Reservation please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com Time is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com