Quarterly Note - 3rd Quarter 2018
Real Estate seems to be a never-ending hot topic. Friends and clients we run into often ask us about trends, styles, location, prices, latest sales; and we love to talk about all of it. Real Estate is an important part of most people’s lives and it can also be a key indicator as to where the economy may be heading. So please welcome our Quarterly Note that includes what has happened, what is happening and what we think might happen in the near future. Below you'll find analytics to the Twin Cities and South East Florida Markets. We have also included an article or two from industry leaders and their take on real estate and its influencers.
We welcome your thoughts. If you think of anyone that may want to receive this, please feel free to let us know.
Decker and Bonnie Velie
Licensed Realtors Minnesota and Florida
Analytics are the New Currency
Year to date, the Twin Cities market is showing single-digit unit growth in closed million dollar plus properties over last year. Average price continues to increase, and the volume of closings are on a positive trajectory. Pending properties are growing as is available inventory in the luxury market; therefore our forecast for the fourth quarter is very optimistic. The Twin Cities continues to be a strong seller’s market.
The South Florida Market is performing at double-digit increases in units sold along with continued impressive volume results. Florida's tax advantages coupled with the warm climate forecasts a very strong housing market in the foreseeable future.
Outlook: What Will the U.S. Real Estate Market Do in 2019?
We’ve passed the midpoint of 2018, which means some home buyers are starting to look ahead to next year. And a lot of them share the same questions: What will the real estate market be like in 2019? Find out more HERE.
Twin Cities Market Update Closed Sales for Listings $1,000,000 Plus
South Florida Market Update Closed Sales for Listings $1,000,000 Plus
(For the counties of Palm Beach/Broward/Miami-Dade)