Home buyers are in a frenzy over South Florida real estate

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

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Boston Condo Market In Real Estate Frenzy

The Boston Condo Market has been on a mega rebound over the past few weeks. Downtown inventory rates have dropped significantly and prices are still climbing. Many Boston condos that we have been tracking over the past few weeks have went under agreement at full or over asking price showing the stability & possible frenzy in the 2007 Boston real estate market.

Last week we all read about the real estate frenzy going on in Manhattan right now. Is it the buyers who have been waiting for the bubble to burst over the past 18 months and now are faced to purchase now or rent for another year? Is it the low interest rates that are still active in our marketplace? What is causing this new renewal of the Boston real estate market?

New condo developments in Boston are also on the hot seat. With even more projects coming up … Read More