Miami Real Estate Trends in the 3rd Quarter

1
(No Transcript)
2

• As one of the most heavily populated and fastest
  growing states in the U.S., Florida features a
  number of favorable long-term economic and
  demographic trends. With a growing population
  comes a continued economic development as well as
  growing incomes. Ultimately, though market ups
  and downs are inevitable, these trends are
  positive indicators for real estate growth.

3

• The number of new properties put
  onto the market slightly increased over
  the last year. This low increase reveals people
  love their homes and are content living in their
  neighborhoods. Securing a residence for a rental
  property would attract long-term renters.

• 6,237 New Single-Family Homes Listed
• 8,366 New Townhomes and Condos Listed

4

• Sales of single-family homes decreased 5.9 over
  last year to 4,809. Sales of townhomes and condos
  decreased 13.8 over last year to 5,354. Without
  new listings it is difficult to have new pending
  sales. This is likely a result of Americas
  lagging wage growth and tight credit
  considerations.

5

• The sale price for real estate is increasing
  year-over-year, although the rate of increase is
  different depending on the type of home
  purchased. A single-family homes average price
  increased 14.9 while the median price increased
  8.7. Townhome and condo average prices increased
  3.8 while the median price increased 3.5.
  Rising home prices encourages owners to sell.

• Median Sale Price for a Single-Family Home
  250,000
• Average Sale Price for a Single-Family Home
  438,431
• Median Sale Price for Townhomes and Condos
  189,900
• Average Sale Price for Townhomes and Condos
  341,927

6

• Single-family homes received approximately 95.4
  of the original list price, which is a decrease
  of 0.7 from last year.
• Townhomes and condos received approximately 94.0
  of the original list price, which is a decrease
  of 3.1.
• This slight decrease indicates the market is
  still in the favor of buyers since buyers dont
  yet need to match or beat the selling price in
  order to get the house.

7

• The Miami Association is working toward
  initiatives to increase inventory. The
  focus is on assisting members to get more
  listings and to bring additional
  distressed properties to the market. Historically
  strong sales and a gradually growing inventory
  points to increased seller confidence. Sellers
  are listing properties because they have
  confidence in the market.

8

• A typical single-family home spent 45 days on the
  market compared to 37 days during the same period
  last year, an increase of 21.6.
• Similarly, the median days on the market for
  condominium listings were 57 days compared to 46
  last year, an increase of 23.9.

9

• Single-family homes had 3,552 closed sales while
  townhomes and condos had 4,080. An impressive 55
  of closed sales were all-cash. All-cash sales
  were 40.4 of single-family home closings and
  67.5 of all condo sales. Miamis position as a
  top market for foreign buyers is evident in that
  approximately 90 of foreign buyers pay in cash.

10

• Founded in 2011 by a team who wanted to raise the
  bar on how real estate is conducted, the Decorus
  Group handles Luxury Real Estate, Commercial
  Investments, Asset Management (Real Estate Fund),
  Legal Services, Property Management, and
  Financial Concierge Services. The Decorus Group
  caters to the mainstream real estate buyer or
  seller as well as the savvy real estate investor.
  Decorus agents will ensure that you meet your
  real estate goals.
• Website http//decorusrealty.com/
• Phone [phone]

11
Sources

• https//www.miamire.com/docs/default-source/monthl
  y-market-reports/miami-dade-county_single-family-h
  omes_2014-q3_summary.pdf?sfvrsn2
•  
• https//www.miamire.com/docs/default-source/monthl
  y-market-reports/miami-dade-county_townhouses-and-
  condos_2014-q3_summary.pdf?sfvrsn2
• http//www.worldpropertyjournal.com/real-estate-ne
  ws/united-states/miami-real-estate-news/miami-home
  -prices-miami-condo-prices-condos-for-sale-in-miam
  i-november-2014-miami-association-of-realtors-liza
  -mendez-cranespotterscom-new-condo-projects-in-mia
  mi-2015-8660.php