Miami Report Q4 Update
 Miami Report Q4 Update |
| The Q4 ISG Miami Market Report provides a comprehensive overview of the real estate market in Miami-Dade, Broward, and Palm Beach counties during the fourth quarter of 2022. Below are some highlights and key takeaways, I would love to hear your thoughts and what you are experiencing first hand in your neighborhood. Florida continues to out perform any US state due to a surge in migration to the area from other parts of the US and abroad. For the first time Florida has more jobs than New York and is #1 in population growth.High demand for premiere waterfront properties in prime locations. Despite rising home prices, demand for properties remains strong in South Florida.3 + bedroom condo inventory continues to shrink as demand continues for larger homes suitable for expanding families and flex use spaces.Shift in buyer demographics: The report notes a shift in the demographics of buyers in South Florida, with younger buyers and families becoming increasingly active in the market.Inventory shortage: The inventory of available properties remains tight, with many homes selling quickly and at or above asking price. This has created a favorable environment for new construction projects, which are breaking ground to meet the demand for housing.Best,Megan Probst |
  MLS Single Family Homes(MIAMI-DADE, BROWARD AND PALM BEACH COUNTIES) MLS Condos(MIAMI-DADE, BROWARD AND PALM BEACH COUNTIES)  Oceanfront, Bayfront & In-Land New Construction Demand View Miami Report Q4 UpdateNews |
South Florida’s high percentage of cash buyers, strong jobs market, robust migration from high-tax, high-density cities and the expansion of remote work are just some factors boosting the South Florida real estate market. Read more Billionaire Stephen Ross, founder of the firm that developed Manhattan’s Hudson Yards, is pushing deeper into South Florida in a bet that wealth will continue migrating from the Northeast. Read more  There’s plenty happening now. According to the Fort Lauderdale Downtown Development Authority (DDA), more than 50 developments are in the pipeline, some already underway, bringing more than 8,500 new residential units — and 725,800 square feet of new restaurant and retail space. Major players include New York-based Property Markets Group, Related Companies, Dependable Equities and Kushner Co., as well as Houston-based Hines and Denver-based Aimco. Read more  |
Compass in the NewsCompass CEO Robert Reffkin joins ‘Closing Bell’ to discuss sharp declines in real estate transactions, sustainable cost-cutting methods, and more.Discover more |
| Want more information about what today’s market means for your real estate journey?Let’s connect! |
 Megan Probst Principal of the Probst Group M: 954.999.2875 O: 305.851.2820 [email protected]  |
| Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. |
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