Since August, homebuyers have been in a frenzy over South Florida residential real estate. And there’s no sign of slowing, according to the latest report on signed contracts from real estate brokerage Douglas Elliman.
Broward County condos were the most sought, with the number of new signed contracts jumping by a whopping 85.9% between October 2019 and October 2020. To create the report, author Jonathan Miller, president of New York’s Miller Samuel, reviewed contracts on condos and houses at all prices listed on the Multiple Listing Service.
Domestic buyers are coming from Boston, California, New York, said Jay Phillip Parker, CEO of Douglas Elliman Florida Brokerage, while international buyers are trickling in from Canada and Mexico. Both domestic and international buyers are looking for primary residences and buying in all neighborhoods, prioritizing price and product over specific areas, Parker said.
“Historically, we were a market driven by trends — condo