Miami Real Estate: New York Times, Miami Today Note Miami’s Real Estate Recover Read more:

Click For Full Story

By Sergio N.Candido
The Miami real estate market is far from reaching the glory of past years, but it’s showing signs of recovery thanks in part to foreign investors and foreclosure freezes. According to the New York Times, the balance between supply and demand in South Florida is shifting and as Miami Today notes, the improvement in the market is being driven my areas west of Biscayne Boulevard, including Midtown, Wynwood and the Design District. The Times has some interesting facts to back up its case: in 2008 there were 108,000 properties for sale in Miami. Now there are fewer than 48,000 properties for sale, and with supply diminished, the value of homes has increased.
Property sales in the metropolitan area during the first half of the year rose 16 percent from 2010 for the best spring since 2007, the Times reports. Two-thirds of the sales were all cash. Prices are also improving. During the first six months of the year, there were 439 sales for at least $2 million, up 13 percent from last year. Carlos Villanueva, district sales manager for The Keyes Co., told Miami Today that real estate prices are also rising thanks to Miami’s art scene, restaurants and clubs that help attract a “young, hip, pioneering demographic.” This is causing more people to want to move to areas west of Biscayne Boulevard that were not sought after in the past. “Gentrification is in full force in the triangle of Midtown, Wynwood and the Design District,” Rita Regev, broker associate at Optimar International Realty told Miami Today.

About Pamela's Blog

Pamela Diaz-de-Leon With an accomplished background encompassing Diplomacy, Architecture, Business and Film, Pamela Diaz-de-Leon brings to the real estate industry the entrepreneurial expertise which stem from her interdisciplinary experience. Her world wide network of distinguished personalities carefully knitted of relationships formed in her five years as the Cultural Attaché for the Instituto Cervantes, serving the King of Spain, in Chicago, and her Hollywood connections acquired while working with a recognized film distributor, give her the global platform in which she has developed her business with great success. Knowledgeable, informed and organized she holds ethics and integrity as her highest values thus, providing her customers with an excellence of service that ensures their utmost satisfaction and their continued loyalty to her work. Office. 305.677.5055 Cell. 305.720.8439
This entry was posted in Green Housing, Miami Beach Condos, Miami Real Estate, Miami Waterfront Properties, Real Estate, South Beach Condos, South Beach Real Estate and tagged , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s