Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • Palm Beach County Condominium Luxury Sales Jump 28 Percent in December

    Jan 22, 2019
    Palm Beach County condominium luxury home sales jumped 28 percent in December as $1-million-and-up homebuyers continue selecting Palm Beach’s incredible live, work and play lifestyle, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Broward Single-Family Home Median Prices Increase in December

    Jan 22, 2019
    Broward County single-family home median sale prices rose 2.9 percent to $350,000 in December 2018 as Broward existing condos sold between $400K to $600 increased 4.3 percent year-over-year, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Mid-Market Miami Single-Family Home Sales Rise 9.4 Percent in December

    Jan 22, 2019
    Mid-market Miami single-family home sales rose 9.4 percent in December, evidence of strong demand in one of the nation’s most sought-after real estate markets, according the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
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  • MIAMI Realtors Sign Four International Agreements at Miami International Congress

    Jan 07, 2019
    The MIAMI Association of Realtors (MIAMI) signed four international collaboration agreements during its recent Miami International Congress. MIAMI now has 204 international partners. These alliances create business opportunities for MIAMI members, enhance Miami’s global position and strengthen the local economy. The bilateral agreements also provide resources, visibility and connections for MIAMI’s international partners.
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  • MIAMI Realtors Partners to Host Miami Shores Plaza 98 Monthly Events

    Dec 26, 2018
    The MIAMI Association of Realtors (MIAMI) is partnering to host free monthly community events from 5-8 p.m. on Jan. 12, Feb. 9, March 9 and April 13 at Miami Shores’ new community destination, Plaza 98, at 9802 NE 2nd Ave. The events are open to all ages and feature family entertainment and games and food and drink for purchase.
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  • Palm Beach County Condominium Sales Continue Rising in November

    Dec 19, 2018
    Palm Beach County condominium sales have now increased in 12 of the last 13 months after another strong November of condo sales, according to a new report by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Broward Condo Sales Rise for Eighth Consecutive Month

    Dec 19, 2018
    Broward County existing condominium sales increased for the eighth consecutive month in November as total Broward home sales increased 4.3 percent year-over-year, according to a new report by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Miami Real Estate Posts Fifth Consecutive Month of Rising Home Sales

    Dec 19, 2018
    Total Miami-Dade County home sales increased 7 percent year-over-year in November, marking the market’s fifth consecutive month of year-over-year transaction gains, according to a new report by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.
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  • MIAMI Realtors Signs 15 New Collaboration Agreements with AMPI Chapters in Mexico

    Dec 17, 2018
    The MIAMI Association of REALTORS® (MIAMI) is honored to have recently signed 15 new international collaboration agreements with local chapters of AMPI, the Mexican Association of Real Estate Professionals, at the 2018 AMPI National Real Estate Congress in Oaxaca, Mexico.
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  • South Florida’s Biggest Open House Weekend Set for December 8-9

    Dec 07, 2018
    The MIAMI Association of REALTORS® (MIAMI) is organizing South Florida’s biggest open house weekend of the year for December 8-9. MIAMI expects more than 2,000 properties at every price range to host open houses in Miami-Dade, Broward, Palm Beach and Martin counties. More than $1 billion in houses and condos are participating.
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  • Palm Beach County Home Sales Register Robust October

    Nov 21, 2018
    Total Palm Beach County home sales increased 17.1 percent year-over-year in October as median prices and dollar volume rose for all properties, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Broward Existing Condo Sales Continue Upward Trend, Surge 20 Percent in October

    Nov 21, 2018
    Broward County existing condominium sales increased for the seventh consecutive month in October, this time rising 20 percent year-over-year, as total Broward County home sales surged 15.1 percent year-over-year, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Miami Real Estate Posts Fourth Consecutive Month of Rising Home Sales

    Nov 21, 2018
    Total Miami-Dade County home sales surged 14.7 percent year-over-year in October, marking the market’s fourth consecutive month of year-over-year home transaction gains, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • MIAMI Realtors Partners with FIABCI-Arabic Countries

    Nov 21, 2018
    The MIAMI Association of REALTORS® (MIAMI) recently signed an international collaboration agreement with FIABCI-Arabic Countries during FIABCI World President -Elect and FIABCI-Arabic Countries President Walid Moussa’s visit to Miami, increasing MIAMI’s international partners to 180 (the most of any U.S. Realtor association). The alliance will create business opportunities for MIAMI members, enhance Miami’s global position and strengthen the local economy. FIABCI-Arabic Countries includes United Arab Emirates, Lebanon, Bahrein, Tunisia, Saudi Arabia, and Kuwait.
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  • MIAMI Realtors and Turkey Federation Sign International Partnership

    Nov 21, 2018
    The MIAMI Association of REALTORS® (MIAMI) signed an international honorary reciprocal agreement with Türkiye Tüm Emlak Müşavirleri Federasyonu (TEMFED) at the 24th Annual Miami International Real Estate Congress in Coral Gables, increasing MIAMI’s international partners to 179 (the most of any U.S. Realtor association). The alliance will create business opportunities for MIAMI members, enhance Miami’s global position and strengthen the local economy.
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  • Total Palm Beach Home Sales Increase in 3Q 2018

    Nov 07, 2018
    Total Palm Beach County home sales increased 7.4 percent in 3Q 2018 as median prices for all properties rose, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Total Broward Home Sales Increase in 3Q 2018

    Nov 07, 2018
    Total Broward County home sales increased 5.9 percent in 3Q 2018 as median prices for all properties rose, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Total Miami Home Sales Jump in 3Q 2018

    Nov 05, 2018
    Total Miami-Dade County home sales surged 15.2 percent in 3Q 2018 as median prices for all properties rose for the 27th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • MIAMI International Real Estate Congress to Feature Delegates from 12 Countries

    Oct 22, 2018
    Delegates from 12 foreign countries will participate in the 24th annual MIAMI Association of REALTORS® (MIAMI) International Real Estate Congress on Oct. 28-30 at the Biltmore Hotel. More than 300 real estate professionals will attend the prestigious event, which will feature 20 industry speakers, numerous panels and marketing sessions.
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  • Total Miami Home Sales Surge a Year after Hurricane Irma

    Oct 19, 2018
    Total Miami-Dade County home sales surged 35.7 percent last month a year after Hurricane Irma brought minimal damage and stalled hundreds of sales in September 2017, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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Miami is Expanding, Improving its Rail Options

by | Jan 04, 2017

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Home to Florida’s only heavy rail rapid transit system, Miami already offers residents and tourists a 25-mile Metrorail connecting South Miami, downtown and the airport. The popular Miami Metromover —smaller, fully-automated trains — links downtown’s cultural art institutions to Brickell, the area’s epicenter for international banking.

With the future in mind — millennials or those between 18-to-34 prefer to take trains versus driving cars, according to various studies — Miami has plans to improve and expand its rail. From the $3.1 billion under construction All Aboard Florida rail system connecting downtown Miami to Orlando to the potential Bay Link Project linked Miami Beach to the mainland, South Florida residents have plenty to be excited about.

South Florida, one of the world’s top cities, even more attractive to the next generation. At 95 million, millennials are already the largest generation alive. By 2025, millennials will comprise the vast majority of the U.S. workforce. Catering to millennials’ preferences for rail and effective transit options will be critical in attracting and retaining top talent in the coming decades.

Miami Rail Ridership Strong
Ridership on Miami’s Metrorail system stands at 75,000 daily, according to Miami’s department of transportation and public works department. Those are strong numbers for a Metrorail system that opened in May 20, 1984.

The Metrorail saw a 10.56 percent increase in ridership between 2012 and 2013, according to the American Public Transportation Agency (APTA). About 21 million trips were taken through the heavy-rail transit system in 2013.

Miami Metromover ridership is also strong. The fully-automated trains transport almost 10 million passengers around the downtown and Brickell neighborhoods each year. The Metromover is popular with tourists, students, attorneys and more.

Orange Line to the Airport
In July 2012, the county completed construction of the Metrorail Orange Line to Miami International Airport. It was a 2.4-mile project that cost $506 million and took about three years to build. The line allows residents and tourists to take the metro from downtown to the airport.

Popular with airport workers and international travelers, the line starts and ends at Metrorail’s newest station, a state-of-the-art facility with digital screens announcing train and flight schedules.

New Miami Metrorail Trains on the Way
Miami is using surtax funds of $375 million to buy a new fleet of Metrorail cars. Hitachi Rail USA will build 136 cars at its Miami factory to replace Miami-Dade County’s Metrorail fleet. The first new vehicles are scheduled go into service in late 2017, Hitachi said.

The new cars will be equipped with the “latest technology that will offer transit customers improved reliability and customer service.”

South Miami-Dade Pushing for Light Rail

In late March, leaders of Homestead, Palmetto Bay and other suburban cities gathered for a meeting to insist Miami-Dade agree to fund a study on how to build light rail along a current 20-mile busway. The Metrorail’s most-southern stop is Dadeland Mall. The South Dade Busway, a 20-mile stretch of highway reserved for busses, currently runs from Dadeland to Florida City.


All Aboard Florida Project
All Aboard Florida is a sizable project in the works. The $2.5 billion project, a high-speed passenger rail linking downtown Miami to Orlando, is expected to remove up to 3 million cars from Florida’s roads and attract 14,000 riders a day by 2020.

The privately owned and operated line plans to run 16 round-trip trains a day between Miami and Orlando, with stops in Fort Lauderdale and West Palm Beach, covering the 235-mile route in about three hours. Service will start with five four-car trains carrying up to 240 passengers each.

Downtown’s growing population is a chief impetus for the development. The number of downtown residents grew from 40,000 to 80,000 from 2000 to 2015, according to the Miami Downtown Development Authority. Most of the growth is coming from millennials. Residents ages 25 to 44 comprise half of the downtown’s population.

Potential Bay Link Project to Connect Miami Beach to the Mainland
Miami officials are also working on a massive project to link Miami and Miami Beach with rail.

In February of this year, the long-delayed Bay Link project won a key approval when a board of local officials agreed to pursue the massive project in two parallel plans. Miami Beach is working on a project after it received a proposal from French rail company Alstom. The city is doing an environmental analysis while using the Alstom bid to collect proposals from other firms.

Connecting South Florida with Rail
South Florida’s increasing rail options will only make the region more attractive to millennials and national companies looking to relocate here.

Millennials prefer trains and light rail to cars, according to studies. Uber, Zipcar, public transit are the modes of transportation. Only half of millennials get their driver’s licenses at 18.
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