New Florida condo laws added reserve and assessment requirements, pushing some South Florida owners to sell units carrying major repair and maintenance costs. A market watcher said pending sales outpaced new listings, signaling buyers were moving quickly even as more sellers tried unloading assessed condos. That dynamic created discount opportunities, with...
The Miami Condo Association Financial Cliff Investors Index™ indicates a troubling trend in the South Florida condo market, with increasing listings and decreasing pending sales since the start of 2025. Concerns are rising among investors and real estate agents due to high mortgage rates and lackluster sales, with predictions of a wave of condo foreclosures in March. Both the Vintage Condo Cliff...
Hialeah offers condos and townhouses under $250K, despite a high median home price of $455K. It provides a more budget-friendly option near Miami’s job market and attractions....
Miami-Dade County leads as the most competitive rental market in the US, followed by Suburban Chicago and North New Jersey. Housing shortages and rent increases persist nationwide, pushing renters towards suburbs. The US faces a shortage of about 4.5 million homes, impacting rental competition. Remote work due to the pandemic has accelerated moving trends, with millennials shifting to suburbs and people...
Miami-Dade County commissioners are considering giving away $3.2 million worth of surplus land to develop affordable housing in response to the housing crisis. The proposal involves selling 26 government-owned properties in Commission District 2 for $10 each. The properties would be sold or rented to households with incomes under 120% of the area's median income as part of the Infill Housing...
Property tax values in Key Biscayne and Miami-Dade County are rising, with the county's estimated taxable value for 2024 at $468.6 billion, a 10% increase from 2023. Key Biscayne's taxable value has increased by 7.2% to $10.7 billion. This could lead to higher property taxes, sparking calls for reduced millage rates. However, due to the Save Our Homes Act, the 7.2% increase may not directly...
Florida's Miami-Dade County is facing a severe affordable housing shortage, needing over 90,000 units for residents earning less than 80% of the area median income. Efforts to address the crisis are ongoing, with financial barriers hindering progress. The region's housing prices continue to rise, prompting calls for substantial investment to alleviate the situation. Continue to full...
Median sales prices ↑ to $615K for a house and $420K for a condo in Miami-Dade County in November. Despite rising supply, high demand in South Florida has kept housing prices resilient, presenting challenges for aspiring homeowners.More options are available for home buyers, with Miami-Dade having a 4.4-mo supply of houses and 6.8-mo of condos....
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