South Florida Sales Up 27% From 2007

South Florida property market is booming again

Wall Street Journal

January 26 2008
Home-Sale Numbers Heating Up in Florida

 Existing-home sales nationwide showed surprising strength in December, as the thaw in sales heated up in Florida. Resales of single-family homes in the Sunshine State surged 27% last month compared with December 2007 -- the fourth straight year-over-year increase for monthly existing-home sales, the Florida Association of Realtors said Monday in its year-end report. Resales of condominiums statewide rose 12% from a year ago.

But there’s a silver lining for buyers in the form of “unprecedented discounts on any and all residential product along the South Florida coast,” Mr. Zalewski said. Luxury units with granite countertops and Jacuzzi baths are fetching pennies on the dollar. In Miami-Dade’s upscale Brickell Avenue neighborhood, a two-bedroom apartment that sold for $700,000 in 2006 is now going for $110,000. Similar deals are available on single family homes.