Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

Broward Events & Classes

  • JTHS-MIAMI Golf Tournament to Benefit Veterans Organization on 9/11

    Aug 10, 2017
    The Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) will host its 32nd annual JTHS-MIAMI Golf Tournament on Monday, Sept. 11 at the PGA National Resort & Spa in Palm Beach Gardens. Partial proceeds will benefit the Renewal Coalition, a Jupiter-based organization that assists wounded veterans and their families.
    Full story
  • JTHS-MIAMI Realtors Collect 240 Pounds of Food for Needy Palm Beach Residents

    May 16, 2017
    The Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) collected 240 pounds of non-perishable food for the Palm Beach County Food Bank in April as part of the JTHS-MIAMI Leadership Academy’s “Move for Hunger” Food Drive.
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  • JTHS-MIAMI Rock the Market Attracts Top Experts, Panels

    Mar 09, 2017
    Palm Beach County real estate will continue outperforming the national average because of continued population gains, a growing economy and spectacular amenities, South Florida top brokers and real estate analysts said at the Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) Rock the Market conference on Feb. 28 in Jupiter.
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  • JTHS-MIAMI Realtors to Host Rock the Market in Jupiter

    Feb 27, 2017
    The Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) will host JTHS-MIAMI Rock the Market on Tuesday, Feb. 28 at the Wyndham Grand Jupiter at Harbourside Place. The conference is designed to equip local Realtors with the latest market information, services and trends so they can better serve their clients.
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  • Lynne Rifkin Elected 2017 JTHS President of the MIAMI Association of REALTORS

    Feb 10, 2017
    The MIAMI Association of REALTORS® (MIAMI) has elected Lynne Rifkin, Broker Associate, ABR, MRP, PMN, SRES as the 2017 President of the Jupiter-Tequesta-Hobe Sound Association of Realtors (JTHS) Council. She and the entire 2017 JTHS Board of Governors were installed Dec. 2 at Frenchman’s Creek Beach & Country Club in Palm Beach Gardens.
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  • JTHS Realtors Collect More than 500 Holiday Toys for Local Children

    Jan 09, 2017
    The Jupiter Tequesta Hobe Sound (JTHS) Council of the MIAMI Association of REALTORS® (MIAMI) collected more than 500 toys for local families in need this holiday season during its first JTHS Young Professionals Network Toy Drive on December 15.
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  • JTHS Realtors to Host Educational Breakfast with Palm Beach Schools Superintendent

    Jan 09, 2017
    The Jupiter Tequesta Hobe Sound (JTHS) Council of the MIAMI Association of REALTORS® (MIAMI) will host a “Make a Connection” Breakfast with Palm Beach County Schools Superintendent Dr. Robert Avossa as the featured speaker on Wednesday, Jan. 18 at the Eastpointe Country Club in Palm Beach Gardens.
    Full story
  • YOUR July Minute with the JTHS President

    Jul 29, 2016
    Announcing Important Upcoming Events
    Full story
  • Jupiter Broker Patti Fitzgerald Appointed to Florida Real Estate Commission

    Mar 03, 2016
    The MIAMI Association of REALTORS® is honored to have one of its members, Patti Fitzgerald, named to the Florida Real Estate Commission, which administers and enforces real estate license law. Fitzgerald is a past president of the statewide Florida Realtors association and is currently a real estate broker associate and manager for Illustrated Properties in Hobe Sound.
    Full story
  • YOUR February Minute with the JTHS President

    Feb 18, 2016
    We are halfway through February. Time goes by so quickly. Our JTHS Leaders continue to focus on goals to maximize our Member's strengths. Our Professional staff continue to make enhancements to products and service offerings.
    Full story
  • Sue Gaieski Elected 2016 JTHS Council President of the MIAMI Association of REALTORS

    Feb 18, 2016
    The MIAMI Association of REALTORS® (MIAMI) has elected Sue Gaieski, e-PRO, SFR as the 2016 President of the Jupiter-Tequesta-Hobe Sound Association of Realtors (JTHS) Council. She and the entire 2016 JTHS Board of Governors were installed Dec. 11 at Frenchman’s Creek Beach & Country Club in Palm Beach Gardens.
    Full story

Miami Home Sales, Prices Rise in January

by | Feb 25, 2015

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Miami – Miami single-family home sales increased in January and all residential median sale prices continued their more than three years of consistent growth, according to the 36,000-member MIAMI Association of REALTORS® (MIAMI) and the local Multiple Listing Service (MLS) system.

Sales increase for Single-family Homes, Decline for Condos
Miami single-family home sales, which set an all-time annual record in 2014, increased 6.5 percent relative to January 2014, from 904 to 963. Condominium sales -- which posted the second best year in Miami history last year despite increased supply of new condo construction -- decreased 15 percent from 1,270 in January of last year to 1,080 last month. Combined, residential real estate sales decreased 6 percent to 2,043 last month compared to 2,174 during the same time period in 2014.

"Miami is seeing a consistent and steady increase in single-family home sales while condo buyers are trending to the new coastal units becoming available," said Christopher Zoller, the 2015 Residential President of the MIAMI Association of REALTORS®. "More houses are coming on the market, which means sellers are feeling confident about the housing market and strong sales show that buyers are also feeling confident."

Single-family home prices, which again increased in January year-over-year, remain at affordable 2004 levels despite more than three years of consistent year-over-year increases. Condo prices also increased in January 2015, marking 43 months of growth in the last 44 months. The median sale price for single-family homes increased 5.6 percent, up to $237,500 in January 2015 from $225,000 in January 2014. Compared to January 2014, the median sale price for condominiums increased 1.3 percent to $188,500 from $186,000 a year prior.

Miami Real Estate Continues Selling Fast, Close to List Price
Miami single-family homes and condominiums continue to sell close to asking price, reflecting a strong consumer demand. The median number of days on the market for single-family homes sold in January 2015 was just 51 days, an increase of 10.9 percent compared to the same period in 2014. The average percent of original list price received was 94.3 percent, down a negligible 1.2 percent from a year earlier.

The median number of days on the market for condominiums sold in January 2015 was 66 days, an increase of 17.9 percent compared to the same period in 2014. The average percent of original list price received was 93 percent, a 3.2-percent decrease.

National & State Statistics
Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops posted a year-over-year increase in January. All national existing housing sales decreased 4.9 percent from December, but were up 3.2 percent from January 2014, according to the National Association of REALTORS® (NAR). Statewide closed sales of existing single-family homes totaled 16,087 last month, up 10 percent compared to the year-ago figure, according to Florida Realtors. Statewide sales of condominiums totaled 7,294, down 1.7 percent compared to January 2014.

The national median existing-home price for all housing types in January was $199,600, which is 6.2 percent above January 2014, according to NAR. The national median home price has now seen 35 consecutive months of year-over-year price gains. The statewide median sale price for single-family existing homes last month was $175,000, up 7.4 percent from the previous year, according to Florida Realtors. The statewide median price for townhouse-condo properties in January was $137,000, up 5.4 percent over the previous year.

Cash Sales Decline Slightly, Condo Financing Remains an Obstacle
Cash sales in Miami continue to decline as more financing becomes available. Access to mortgage loans for condominium buyers, however, remains limited. The lack of Federal Housing Administration loans for a large number of existing Miami condominium buildings is preventing further market strengthening.

In Miami-Dade County, 57.3 percent of total closed sales in January 2015 were all-cash transactions, compared to 61.9 percent in the same time period last year. All-cash sales accounted for 42.5 percent of single-family home and 70.5 percent of condominium closings, compared to a year earlier when cash sales were 47.3 percent of single-family home sales and 72.3 percent of condominium sales. Miami's percentage of all-cash sales is more than double the national average. About 27 percent of all national housing transactions were in cash in January 2015, according to NAR.

Since nearly 90 percent of foreign buyers in Florida purchase properties all cash, this continues to reflect Miami's ability to attract international buyers.

Short Sales Continue to Decline in Miami
While traditional sales remain strong, distressed property transactions declined in Miami-Dade in January 2015 due to fewer short sales. In January 2015, only 34.9 percent of all closed residential sales in Miami were distressed, including REO (bank-owned properties) and short sales, compared to 38 percent in January 2014.

Short sales and REOs accounted for 7.8 percent and 27.1 percent, respectively, of total Miami sales in January 2015. Sales of REOs increased 3.6 percent year-over-year while that of short sales declined 45 percent.

Nationally, distressed homes accounted for 11 percent of January sales compared to 26 percent during the same time period last year.

Active Listings on the Rise
After three years of record sales activity that resulted in an inventory shortage, seller confidence continues to result in more properties being listed in Miami.

Active listings at the end of January increased 12 percent, from 16,358 in the same time period last year to 18,315 last month. Active listings remain about 60 percent below 2008 levels when sales bottomed. Inventory of single-family homes increased 8.4 percent from 6,021 active listings last year to 6,524 last month. Condominium inventory increased 14.1 percent to 11,791 from 10,337 listings during the same period in 2014.

At the current sales pace, there is a 5.8-month supply of single-family homes, an increase of 3.6 percent from 5.6 months in January 2014. There is an 8.7-month supply of condominium inventory, up from 7.2 months in January 2014, an increase of 21.6 percent. A balanced market between buyers and sellers offers between six and nine months supply of inventory.

New listings of single-family homes increased 3 percent from 2,288 in January of last year to 2,356 last month. New condominium listings decreased 4.3 percent to 3,190 last month, compared to 3,333 during the same time period in 2014.

January 2015 New Construction Market Update
Strong sales in the coastal new construction condominium Miami market (east of I-95) continue to reflect significant demand for new properties, according to the latest New Construction Market Status Report released by Cranespotters.com and MIAMI.

Since 2011, nine towers with 981 units have been completed in Miami-Dade County east of I-95. As of the Feb. 16 report, 68 towers with 9,624 units are under construction, and 79 towers with 11,832 units are planned but have not begun development. There are also 51 towers with 7,758 units that have been announced but not approved.

Overall in Miami-Dade County, developers have announced 207 towers with 30,195 units since 2011 through Feb. 16. Of the above projects in Miami-Dade:

  • 97 projects with 113 towers comprising 16,863 units are currently selling.
  • 67 percent of units have been sold.
  • The mean price per square foot of these units is $874, compared to $856 last month.

Access January 2015 Miami-Dade Statistical Reports: SFMarketIntel.com

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