In the last couple of weeks we have seen quite a few properties have their status changed from, For Sale, to Sold…The buyer demographic has also been quite ample, from people aiming to re-locate to the DR to investors buying up large expanses of farm land to the traditional vacation property buyer. Several nationalities have been represented, however US citizens are the strongest buyer contingent.
Does this mean things have started to get better in the states?
According to the Florida Real Estate Journal, there was a 76% increase of existing single-family home sales in May 2009 compared to May 2008 in Miami, according to the latest report by the Realtor Association of Greater Miami and the Beaches.
Miami was the strongest single-family market in Florida, showing a substantial increase compared to only 16% statewide. The sales of existing condominiums in Miami-Dade increased by 36% compared to the same period last year - and to the 21% statewide increase. The Miami real estate market has experienced a surge in sales each of the last 10 months.
According to National Association of Realtors Chief Economist Lawrence Yun, the South Florida real estate market may have hit bottom. “We’re certainly near the bottom if not at the bottom already,” said Yun at the recent International Real Estate Congress and Expo in Miami.
As there are no official statistics kept for real estate sales in the Dominican Republic, it’s hard for us to make such claims, however we are certainly starting to see increases in sales volumes compared to previous months.
There are still some great deals out there, so as a potential buyer, our advice is to get out there, take a look and start making offers.
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J.C.S.A. Inmibiliaria & Inversiones, C. x. A. Higuey
Miami was the strongest single-family market in Florida, showing a substantial increase compared to only 16% statewide. The sales of existing condominiums in Miami-Dade increased by 36% compared to the same period last year - and to the 21% statewide increase. The Miami real estate market has experienced a surge in sales each of the last 10 months.
According to National Association of Realtors Chief Economist Lawrence Yun, the South Florida real estate market may have hit bottom. “We’re certainly near the bottom if not at the bottom already,” said Yun at the recent International Real Estate Congress and Expo in Miami.
As there are no official statistics kept for real estate sales in the Dominican Republic, it’s hard for us to make such claims, however we are certainly starting to see increases in sales volumes compared to previous months.
There are still some great deals out there, so as a potential buyer, our advice is to get out there, take a look and start making offers.
Share and Enjoy:
J.C.S.A. Inmibiliaria & Inversiones, C. x. A. Higuey
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