Singer Island Market Update – 4th Quarter 2019

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2019 saw the real estate market soften on Singer Island with a 10% decrease in the number of re-sale units sold and a 6.5% percent decrease in the sales volume compared to 2018.  This softening was caused, in part, by the reduction of foreign sales.  Thirty-five percent of real estate business in South Florida historically coming from foreign investment.  The …

Singer Island Market Update – November 2019

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With the year-end rapidly approaching, it’s time to reflect back on 2019 as well as look ahead to 2020.  The weather has turned cooler and everyone is prepared for the holidays; retail stores have decorated for the Christmas holiday.  2019 condo sales continue to remain somewhat lackluster compared to this point in 2018. In November, there were 9 re-sale closings …

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 – 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 – 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 …