The luxury real estate market in Miami continues its feverish upswing. According to a recent report, single-family home active listings drop to the lowest numbers they have in over eleven years. As of last month, there were nearly 8,600 single-family listings in all three counties, versus more than 13,000 when compared to 2020.
As condominium sales that declined last spring and summer have seen a turnaround, the demand is becoming significantly more active. Over 65 percent of purchases in Miami-Dade, Broward, and Palm Beach counties were single-family residences during the first and second quarter of last year. Condominiums accounted for just 30 percent of revenues during the same period. Compare it to the third and fourth quarter of 2020, as condominium purchases hovered at more than 45 percent of sales when single-family homes were more than 50 percent.
Should you need financing for your Miami luxury home purchase, please contact us and we can discuss a hard money loan solution. We offer flexible terms and quick approval so you get the money you need fast.
This update is by hard money lenders Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on Broward County hard money lending, please call 954-816-0388 or fill out our application.