This Spring selling season shows positive signs as buyers are returning from the sidelines.
They are feeling more optimistic now that the midterm elections are behind us and home prices have begun to stabilize. Houses that are well priced are selling quickly. Preliminary data shows a jump in Florida home purchases by buyers from high-tax states.
“I’ve been starting to see New Yorkers as Florida’s new foreign buyer,” said real-estate appraiser Jonathan Miller, who publishes quarterly reports for real estate company Douglas Elliman about the South Florida market. “If they were already on the fence, I think the tax law has changed the calculus for some.”*
Buyers this spring will find an increase in inventory since last fall. Currently there are 187 single family homes versus 117 last fall.** Thirty percent of those listings are priced over $10,000,000.
Top 5 Listings
Since January 1, there have been 10 home sales and 14 pending home sales.