South Florida 3rd Quarter Real Estate Market Report

How's the South Florida real estate market?

The Recipe for our 3rd Quarter 2021 Florida Housing Market

Here’s the Recipe for Our 3rd Quarter 2021 Florida Housing Market: Take one large housing-supply shortage; add a global pandemic, economic shutdown, and supply chain shortages; mix in rapid population growth, and you will yield today’s residential real estate market.

At a national level, we’re seeing record gaps in housing supply and demand. The US Census reveals 12.3 million households were established between January 2012 and June 2021. Compare this to the 7 million new single-family homes constructed during that time.

Florida Realtors reports a robust pace and high absorption rate

South Florida Real Estate Market Report

How's the South Florida real estate market?

Reflection...  Looking back and looking ahead

To sum up Florida’s real estate market for the first half of 2021, one word comes to mind: unexpected. Florida has long enjoyed an influx of residents migrating from across the country, and around the world, to call the Sunshine State home. With remote work becoming a permanent option, over 900 people per day are moving to Florida, according to the Palm Beach County Business Development Board. Reasons for this explosive growth in Florida can point to fair weather, a business-friendly climate, and the lack of state income and estate tax.

Low-interest rates continue to fuel affordability and drive high absorption

South Florida Real Estate Market Report

How's the South Florida real estate market?

Reflection...  Looking back and looking ahead

After wrapping up a year to remember in 2020, Compass is proud to share our first Florida market report of the year, showcasing data from Q1 for South Florida, North Florida, Southwest Florida, Central Florida, and the Greater Tampa Bay. While not all facets of life have returned to prepandemic norms, especially as it relates to the international travel that injects additional movement in the housing market, real estate nationwide has benefited from signs of recovery including an increase in consumer expenditure, vaccination distribution, a decrease in unemployment from 14.7% to 6% (BLS.GOV), and an acceleration of

It will take time for South Florida to fully process the long-reaching changes resulting from the COVID-19 pandemic. One of the more immediate effects, however, has been a sharp increase in home prices—thanks in combination to federal efforts consisting of low borrowing rates, and a local lack of inventory.

Across the South Florida region, prices climbed over the course of 2020. Even now, nearly 12 months since the sweeping lockdowns that slammed the country, the trend has continued, pushing prices past previous historic highs.

This isn’t unexpected, of course. The simple laws of supply and demand coupled with the typical buying frenzy that accompanies drops in interest rates are anything but unpredictable. So too is the fear of missing out on

South Florida Real Estate Market Report

How's the South Florida real estate market?

As we enter 2021, we’re taking a moment to reflect on a quarter that closed out one of the most unique years of our lives.

Last year taught us that home is so much more than the place where you sleep at night. As the lines in our lives began to blur, so did the way we experienced home. A formal dining table that was once merely for show moonlighted as our childrens’ desks as they navigated a new world of virtual learning. Kitchens previously used for an occasional dinner were enhanced with new gadgets and recipe books, as millions of US residents tried their hands at bread-making, cocktail-mixing, and getting that restaurant-worthy recipe “just right”. Living

South Florida Real Estate Market Report

How's the South Florida real estate market?

The COVID-19 pandemic has altered the way we live, work, socialize, and shop, but Florida real estate remains resilient as buyers look for more space and good deals. While Q3 is typically a slower market, the desire for more space and the pause in closing activity in April caused pent-up demand. In higher price ranges, including the ultra-luxury sector, little inventory has been left on the table. Across the state, months of single-family-home inventory, based on closed sales, was down year-over-year to 36.1% in Palm Beach County.  Think about that for a minute; there are 36% fewer homes available on the market in 2020 than there were one year ago in 2019. This

At The Pearl Antonacci Group of Lang Realty, the health and safety of our agents and clients is the top priority.  Here's what we're doing to ensure that we stay connected and continue to provide home buyers and home sellers with impeccable service.

Virtual Tours and Open Houses

We have the ability to take a targeted audience on a virtual journey through our real estate listings via walk-through video tours and Matterport technology which uses a floor plan of the home and 3D technology to take viewers from room to room all on a tablet or computer. 

Using dynamic, agent-guided video promoted via digital, mobile, and social channels, we can showcase the key features of your property to interested clientele wherever they are.  Take a look