June 2020 Market Updates Are Here!

Dear readers,

We received the below information from the Miami Realtor Association for the month of June 2020! As you can see the pandemic has created a competitive housing market. Houses are selling quickly than ever before. Pending sales have seen an increase as well as home sales in markets such as Miami, Broward and Palm Beach. The market has an optimistic outlook. 

• "The South Florida real estate market is experiencing a robust recovery from the brief interruption caused by the pandemic. Current market activity is stronger than it was pre-pandemic and stronger than it was a year ago.
• New Pending Sales surged 34% for Single-Family Homes and 13% for Condos/Townhomes compared to June 2019.
• Median Sale Prices continue to rise as a result of insufficient supply and strong demand, particularly in certain price points and neighborhoods. Compared to June 2019, the median sale price increased 5% for both Single-Family Homes and Condos/Townhomes.

The oversupply of luxury properties continues to decline year-over-year. For properties that sold at $1 million or above, months supply dropped 18% for Single-Family Homes and 10% for Condos/Townhomes."

For more information please visit go to SFMarketIntel.com.

Our Florida 360 Realty team is here to serve you in Miami, Palm Beach and Broward county. We look forward to hearing from you! 

Thomas Pidgeon
Florida 360 Realty 
www.florida360properties.com 
954-245-9346
thomas.pidgeon@florida360realty.net
 

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