Renting is at its greatest level in fifty years, with almost 44 million American households renting. However, some renters found it difficult to find a new place to call home in 2022, particularly in the highly sought-after South Florida region, which has long been a popular relocation destination for individuals from all over the country.
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Developers for Aston Martin Residences Miami recently announced that sales continue to climb and there seems to be no stopping the upward direction of unit prices. Sales for this new tower have surpassed 90% in sales, beating its own records for both January and February 2022.
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According to the Multiple Listing Service (MLS), Miami-Dade County real estate achieved its best-ever February sales month as existing condo transactions climbed by double digits for the 17th consecutive month, following the historic January 2022 and 2021 year sales.
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According to the MIAMI Association of Realtors and the Multiple Listing Service, Miami-Dade County real estate extended its record run of house sales with its best-ever January sales month, as existing condo transactions climbed for the 16th consecutive month.
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In Miami-Dade County, condo sales and dollar volume increased in the first week of February. Volume for the week rose to $232 million which is up from $159.5 million from January 2022.
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Mast Capital’s proposal for the site involves a master-planned development that will comprise of 400-unit condominium tower and two more high-rises totaling 850 premium apartment rentals, created in collaboration with Rockpoint Group.
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This year has been a record-breaking year for Miami-Dade County real estate.In the second quarter for 2021, a new record was set for the most home ever sold in that quarter.
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According to the Miami Association of Realtor’s, Miami-Dade County real estate has yet again broke another record for second-highest quarterly Home sales in 2021 quarter three. After last quarter’s record-breaking sales, this is of no surprise.
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In the past 12 months, homes sales for international buyers have dipped to 31% making it the lowest since 2011, with Florida having the most sales to foreign buyers. Although Miami has seen a surge in condo sales this past year, the majority were domestic buyers.
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Home sale records continue to be crushed month over month marking its best September sales in history and setting the bar for the most condos sold in a year’s time.
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