The Miami Dade real estate market set a huge record in June. In fact, it saw the highest number of residential sales in one month in almost 30 years. This is a huge sign that the demand for homes in South Florida is still extremely high.
During June, Miami-Dade saw 4,057 residential sales. This is the most sales that the county has had since about 1993. Similarly, Broward recorded 4,121 residential sales, which was the highest sale volume the county has seen this year.
As mortgage rates continue to be low, many buyers are looking at South Florida for both moving and investing. In fact, despite the fact that the pandemic is settling, many people from out of state are still flocking to the area. This is due to many reasons. Of course, South Florida’s lifestyle is a big factor. However, many U.S companies have also been bringing many high-paying jobs to Miami, making it a very attractive place for people wanting to move.
This Miami Dade real estate record also includes the fact that the county saw the third highest YoY increase in residential sales compared to 50 other metro areas in the country. In June, sales increased by 114.3% YoY, going from 1,893 sales to 4,057. This time, condos saw a higher increase than single-family homes. Right now, the county has a 2.2 month supply of single-family homes and a 5.1 month supply of condos.
Read full article: https://www.miamiherald.com/news/business/real-estate-news/article252962523.html
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