Singer Island Market Update – October 2019

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As we enter November, the thought of cooler weather is on everyone’s mind.  Condo renovations are winding down as the “no noise” season approaches and everyone is starting to prepare for the holidays.  Many of the retail stores has already decorated for the Christmas holiday.  2019 condo sales continue to remain somewhat lackluster compared to this point in 2018. In …

Singer Island Market Update – 3rd Quarter 2019

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Hard to believe it’s October already.  Entering the 4th quarter of 2019, we are looking forward to the cooler temperatures and increase activity in the real estate market.  Singer Island saw a slowdown in activity towards the end of 2018 which has carried into 2019.  There were 122 condominium re-sales on Singer Island in the 1st nine months of 2019, …

Singer Island Market Update – August 2019

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“We are thankful that Hurricane Dorian turned north just east of the Palm Beaches, sparing us from its damaging winds and rain.  Our thoughts and prayers go out to those in the Bahamas who have been affected by the devastation and hope for a speedy recovery.” With Labor Day signaling the official end to summer, we are looking forward to …

Singer Island Market Update – July 2019

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2019 continues its sluggish performance with condo re-sale closings decreasing 19% and sales volume decreasing 23% compared to this time last year. Let’s take a closer look at the results in oceanfront condominium re-sales for the first seven months of 2019 on Singer Island: There have been 96 condo re-sales on Singer Island through July 2019.  The sold prices averaged …

Singer Island Market Update – 2nd Quarter 2019

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As we end the 2nd quarter of 2019, a decelerating of real estate activity can be seen on the island.  There were 86 condominium re-sales on Singer Island through the 2nd quarter of 2019, a twelve percent decrease over the same period in 2018; sales volume saw a 18% decrease as well decreasing from $80.6M this time in 2018 to …

Singer Island Market Update – May 2019

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Nearly halfway through 2019 and the condo re-sale activity on Singer Island is trailing last year at this time.  Year-to-date closings are down 10% overall; with $1M+ re-sales declining 40% from this time last year.  Re-sales of less than $500K did show a 19% increase over last year. Year-to-date closings are down 10% overall; with $1M+ re-sales declining 40% from …

Singer Island Market Update – 1st Quarter 2019

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The effect of a strong economy seems to be having a positive effect on real estate as we end the 1st quarter of 2019.  There were 36 condominium re-sales on Singer Island in 1st quarter of 2019, a twenty percent increase over the same period in 2018; sales volume saw a 7% increase as well increasing from $23M this time …

Singer Island Market Update – February 2019

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As we enter 2019, Florida is benefiting from the Tax Cuts and Jobs Act of 2017.  Residents of high-tax cities are increasingly drawn to South Florida after the tax law capped deductions. We are now seeing buyers from California, which in the past, was unusual. New York, Connecticut and Illinois buyers have been regulars to Singer Island, however, the numbers …

Singer Island Market Update – 4th Quarter 2018

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2018 saw the real estate market return to Singer Island with a 10% increase in the number of re-sale units sold and a 27 percent increase in the sales volume compared to 2017.  This validates our January 2017 prediction which stated “With 2017 setting a record pace in the stock market, lower unemployment, increased consumer confidence and 3%+ GDP, the …

Singer Island Market Update – November 2018

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With the end of 2018 approaching, we are able to evaluate the Singer Island condo real estate market performance for 2018.  Condo sales activity has shown steady improvement for the year. Although condo transactions only increased 9% from 2017, sales volume shot up 23.5% from a year ago.  Growth in GDP, employment and consumer confidence, has translated into positive real …