Our Beautiful House
  • Home
  • Decorate
    Decorate
    Show More
    Top News
    ROI for a Bathroom Remodel
    June 4, 2020
    6 Home Trends Buyers Love
    August 11, 2020
    3 Fast Home Fixes to Attract Millennial Buyers
    July 8, 2020
    Latest News
    Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
    October 31, 2023
    10 Home Renovations That You Should Splurge on
    July 8, 2023
    Top 15 Modern Interior Designs You Need To Know
    June 1, 2023
    10 Home Repairs to Leave to the Pros
    May 18, 2023
  • Rooms
    Rooms
    Show More
    Top News
    Ideas to Refresh Your Master Bedroom
    September 9, 2020
    Modern White Kitchens? Tips to Clean and Maintain Your White Cabinets
    November 20, 2020
    Interior Designs Tips for Your Bedroom
    August 11, 2021
    Latest News
    5 Nursery Design Trends for the Modern Home
    August 1, 2023
    40 Gorgeously Minimalist Living Rooms That Find Substance in Simplicity
    July 1, 2023
    14 Creative Kids Bathroom Decor Ideas
    May 28, 2023
    Simple Steps of Kitchen Remodeling
    May 21, 2023
  • Outdoor
    Outdoor
    Show More
    Top News
    Taking Care of Your New Home, Season by Season
    June 4, 2020
    Small deck ideas: 31 budget decking designs for tiny gardens
    October 18, 2022
    How to Landscape on a Budget
    October 6, 2020
    Latest News
    5 Best DIY Landscaping Ideas
    November 22, 2022
    15 Fun Backyard Ideas That Kids Will Surely Enjoy
    November 14, 2022
    25 Chic Modern Outdoor Furniture Ideas
    November 7, 2022
    Small deck ideas: 31 budget decking designs for tiny gardens
    October 18, 2022
  • Lifestyle
    Lifestyle
    Show More
    Top News
    Miami-Dade Puts New Airport In Homestead Onto Agenda
    September 16, 2020
    Essential Components of the Home Tool Kit
    May 3, 2022
    Did You Know Miami Has a Vegan Food Hall? Neither Did We
    May 9, 2020
    Latest News
    The Best Basement Organizing Tips and Tricks
    January 6, 2024
    Top 50 Christmas Gifts for the Entire Family
    December 1, 2023
    Explore 41 Hilarious Thanksgiving Games for Family Fun in 2023
    November 4, 2023
    Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
    October 31, 2023
  • Real Estate
    Real Estate
    Show More
    Top News
    What Type of Mortgage Is Best for You?
    June 5, 2020
    Kitchen Remodel Return on Investment for Sellers
    June 3, 2020
    Should You Accept the Previous Buyer’s Inspection Report?
    November 22, 2020
    Latest News
    What Are Your Real Estate Goals?
    January 2, 2024
    Two Ways Homebuyers Can Win in Today’s Market
    August 6, 2023
    Home Renovations for the Aging Population
    July 24, 2023
    The Benefits of Owning a Second Home
    July 6, 2023
  • Contact
Reading: High End Sales Surge in South Florida
Share
0

No products in the cart.

Notification Show More
Latest News
The Best Basement Organizing Tips and Tricks
Organization
What Are Your Real Estate Goals?
Real Estate
Top 50 Christmas Gifts for the Entire Family
Lifestyle
Explore 41 Hilarious Thanksgiving Games for Family Fun in 2023
Lifestyle
Top Halloween Decor Picks to Transform Your Home into Spooktacular Haven in 2023
Decorate Lifestyle
Aa
Our Beautiful House
0
Aa
Search
  • Home
  • Decorate
  • Rooms
  • Outdoor
  • Lifestyle
  • Real Estate
  • Contact
Follow US
  • Blog
  • Complaint
  • Advertise
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
Our Beautiful House > Blog > Real Estate > High End Sales Surge in South Florida
Real Estate

High End Sales Surge in South Florida

Last updated: 2022/11/03 at 8:28 AM
By Stefan #TheListingBroker - Real Estate
Share
2 Min Read
SHARE

The luxury South Florida real estate markets in the oceanfront enclaves of Miami and Palm Beach are fresh from a healthy third quarter as wealthy out-of-state buyers capitalize on the low-taxed market, according to reports Friday from the Miami Association of Realtors.

The number of luxury property sales—defined as those sold for more than $1 million—across the two counties surged almost across the board.

In Palm Beach County, luxury single-family home deals increased 13.9% year-over-year and high-end condo sales followed right behind, up 12.5% in the same time frame.

Further down the coast in Miami-Dade County, luxury single-family home transactions increased 11.8% annually in the third quarter.

Existing luxury condos in Miami were the anomaly, with sales growth failing to hit double digits and rising just 2.7% in the same time.

“Interest from high earners in tax-burdened states and declining mortgage rates continue to drive demand in the South Florida real estate market,” José María Serrano, the association’s chairman, said in the report.

Federal tax reform enacted last year essentially eliminated state and local tax deductions for higher-income earners, effectively raising the cost of living and owning a home in high-tax states such as New York, New Jersey, Connecticut and California.

Florida, meanwhile, has notoriously low state, local and property taxes.

Along with rising levels of sales, prices have been on the up, too.

West Palm Beach’s luxury market ranked top nationwide for price growth in the third quarter, according to another report Thursday from Redfin.

The city saw its luxury values rise 128.3% annually, leaving the new average at more than $3.7 million, Mansion Global previously reported.

TAGGED: condo, florida, high sales, luxury, miami, miami dade, sales surge, single family home, south florida
Stefan #TheListingBroker - Real Estate November 23, 2019
Share this Article
Facebook Twitter Email Print
How you feel with this article?
Love0
Happy0
Surprise0
Wink0
Sleepy0
Sad0
Angry0
By Stefan #TheListingBroker - Real Estate
Stefan is a Real Estate Broker and REALTOR® with over 8 years of professional experience. Prior to starting his real estate career, Stefan spent 11 years as a foreclosure defense and divorce attorney (quite a combo, huh)? Conducting a real estate business with a a diverse legal background has allowed him to gain unique experiences that make him a well-rounded resource for his clients. Stefan is a proud Florida State University alumni, having earthed his bachelor’s degree in Management, prior to attending law school.
Leave a review Leave a review

Leave a review Cancel reply

Your email address will not be published. Required fields are marked *

Please select a rating!

Our Beautiful House 

  • Home
  • Decorate
  • Rooms
  • Outdoor
  • Lifestyle
  • Real Estate
  • Contact
Subscribe to Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

[mc4wp_form]

Find Us on Socials

© 2022 by #TheListingBroker. All Rights Reserved.

✕

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?