Posted by : admin in (In the News, Miami Beach, Values !)
RETURN OF THE LUXURY HOME MARKET IN SOUTH FLORIDA
In June 2009, sales of homes priced more than $1 million totaled 41 in Miami-Dade County, up from the anemic sales of only nine homes in January. Similar gains were seen in Broward County as well, according to the front page of the Miami Herald (8/2/09).
Realtors in the ultra-luxury market are seeing a return of wealthy foreign buyers, as well as locals now willing to trade up once again. Prices in the upper brackets have declined only 14 percent in Miami-Dade from the 2006 peak, as compared with a whopping 50 percent for the market as a whole. Availability of credit is seen as part of the reason for the increased sales. However, since many buyers pay cash for expensive properties, the more significant reason for the uptick is improved buyer confidence over the state of the economy.
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Jane and Jean-Marie (John) Losson +1-305 924 0262
Esslinger-Wooten-Maxwell, Inc. Realtors, Inc.
