South Florida Real Estate Market outlook in 2021.

 

A little over a year ago, residential brokers and developers expected sales to slow down as the market for single-family homes and condominiums cooled. And when the coronavirus rapidly spread from the northeastern U.S. to the Sunbelt in early March, the local residential sector prepared for a catastrophe.

 

Then a trend began to take shape; high net worth individuals residing in New York and other states subject to tighter government restrictions began fleeing to the less restrictive confines of South Florida.

 

Since early summer, the residential market has soared. In November, total home sales reached nearly $4.3 billion in Miami-Dade, Broward, and Palm Beach counties, according to the Miami Association of Realtors. Single-family home sales dollar volume led the way, increasing by over 50 percent in each county in November, compared to the same period in 2019, when real estate experts predicted a slowdown.

 

This will boost the residential sales market in 2021 as the current cycle enters the expansion phase, according to more than a half-dozen leading brokers and developers.

 

Some of those experts discussed their projections in interviews with The Real Deal:

 

Dora Puig, founder, and principal broker of Luxe Living Realty:

"I am confident that momentum will continue through 2021. I haven't heard of new condo developments, but I have heard of developers selling existing condo projects. I think we are at 60% near the peak of a cycle. We have a way to go in 2021. I see the peak in the first or second quarter of 2022."

 

Mike Pappas, CEO, and president of Keyes Company:

"The luxury market has never been stronger than it is right now. It's the strongest I've ever seen. The only submarket that is down is homes under $500,000. Indicators show that we will sell more units in 2021 than were sold at 2020 and prices will continue to appreciate."

 

Nathan Zeder, associate and principal broker of Coldwell Banker's The Jills Zeder Group:

"We've seen some pretty significant price increases and you can't raise prices forever. But it's hard to say there will be a slowdown. Covid-19 hampered the condo market in the short term, but the market has been stable since 2016. If the single-family market gets too expensive, condos represent value."

Best cities in South Florida to live your retirement.

After age 65, people say goodbye to work and start their golden years, but before you do, you should ask yourself, is Florida the best place to retire?

According to WalletHub, Florida is the best place in the United States to live after retirement. Year after year, Florida leads the polls as the best place to enjoy a fair and well-deserved retirement. According to research by the financial website, the 'Sunshine State' is the best place to settle down, and the dream of retiring by the sea is a reality for hundreds of Americans.

 

A study supported this decision. It took into account key factors that every retiree looks for after retirement: affordability, quality of life, and healthcare.

 

These were the top 5 locations in the Sunshine State.

1. Sarasota. 

2. Tampa.

3. Miami

4. Mouse Mouth

5. Key West.

 

So, don't think twice! Contact your real estate agent and plan your retirement enjoying the sea, the sun, and the wonders of South Florida.

Why Coral Gables is known as the “city beautiful”?

When you visit the Coral Gables Center, the first thing that you see is its wonderful architecture. Inspired by the works of landscape architect Frederick Law Olmstead, who designed New York’s Central Park, The City Beautiful Movement encouraged the use of wide tree-lined avenues, monumental buildings, winding roadways, green space, ornate plazas, and fountains galore.

The beauty and charm of Coral Gables is experienced in its plazas, entrances and fountains that set the original “Spanish” style of the carefully planned community.

With its quiet streets, beautiful houses and shade trees, Coral Gables offers endless activities and attractions, including golf, tennis, art galleries, museums and beautiful landscapes.

According its locals, just a walk around its squares, boulevards and old Spain architectural landscapes will answer the question of why they call Coral Gables the “City Beautiful.”

  

Some historic buildings in Coral Gables that you should visit:

1)     John M. Stabile Building: built in 1924, it's one of the oldest commercial structures in Coral Gables. It's known for its Mediterranean architecture, with large doors and balconies overlooking Salzedo Street.

2)     Coral Gables Water Tower: it was built in 1924 and consists of two separate structures. It was used as part of the city’s water supply system until 1931, when it was disconnected from the system.

1)     Merrick House: it’s a historic house originally constructed as the family residence of George E. Merrick, founder of the city of Coral Gables. No Coral Gables tour can be complete without a visit to the Merrick House.

Coral Gables is one of the most established, scenic and affluent communities in South Florida, and It makes the city an extraordinary option if you are planning to invest.

Coral Gables offers a blend of residential and business opportunities near the heart of Miami, but also draws tourists year-round through venues like the internationally reputed Miracle Mile, in the center of Downtown Coral Gables.

Una Residence: the future is in the heart of Brickell

OKO Group is preparing a project right in the center of Brickell; a combination of design and comfort ready for those who want to enjoy Miami from a new point of view.

Una Residence will be a 48-story condominium right in the middle of Brickell. Close to places like Coconut Grove, Downtown, Miami International Airport and the beaches of Key Biscayne, this new construction will promise to combine the best style and design with a cosmopolitan lifestyle.

The building will include:

•      Bayfront pool, outdoor lap pool, and family pool

•      Jacuzzi

•      Catering kitchen

•      Kids’ splash-pad area

•      Private dining/party room

•      Movie theater

•      Bay walk access

•      State-of-the-art fitness center, with yoga and personal training areas

•  Dedicated beauty suite for private hairstyling, manicure and pedicure appointments

•      Dog-walk area

•      24-hour concierge service

•      Combination of valet service and self-parking

•      And more…

The 43 stories are divided as follows:

•      Levels 8-16: 4 apartments per floor;

•      Levels 17-18: 2 apartments per floor;

•      Levels 19-29: 4 apartments per floor;

•      Levels 38-43: 2 apartments per floor.

Each apartment will have:

•      Private elevator entries into each residence

•      Expansive terraces with effortless “lift-and-glide” floor-to-ceiling doors and glass balcony railings 10’8” ceiling heights, above Miami standard

•      Chef’s kitchens

•      Master suites with en-suite bathrooms

•      Two penthouses, each with a private pool and 11’7” to 12’4” ceilings

You can have this and more starting from $900,000. According to its firm, this condo complex is expected to be completed by 2021. But you don’t have to wait any longer: all you have to do is contact us on www.gablesriches.com to start the consulting process.