June 3, 2016
Home price growth in South Florida is continuing to cool off. While prices in Broward, Miami-Dade and Palm Beach counties rose 6.2 percent year-over-year, they only rose 1.1 percent between February and March of this year. This is yet another sign the South Florida real estate market is taking a break from the boom of the past 3 years, which often saw double-digit price growth. This market slowdown makes now an ideal time to buy real estate.
Home sales have also declined, while inventory continues to grow. Both of these factor into determining home values in the area. In the luxury Miami real estate market, prices for the top 10 percent of condominiums fell by 14.5 percent to an average price of 3.13 million dollars during the first quarter of 2016.
However, this market downtrend is a buyer's gain, and the current conditions are perfect for buying real estate in South Florida. Prices are favorable, and developers are actually building for full-time residents, rather than foreign absentee buyers.
Niki Higgins' comprehensive knowledge of the South Florida real estate market, combined with a personal understanding of individual needs, helps guarantee an efficient and successful acquisition.
Do not miss this opportunity to buy a home in South Florida! Contact Niki Higgins at +1-954-817-2500 or +1-888-242-4422 at your earliest convenience.
Source: The Real Deal
