Markets & Economy

Miami-Dade, Broward counties still showing strong home prices

South Florida markets still holding their own, Broward feels less pressure from overseas tumult
  • In a ONE Sotheby's year-end report, South Florida markets are holding their own.
  • Broward feels less pressure from skittish foreign buyers who are pulling back from Miami-Dade.
  • The real estate firm sold a $27 million property in Broward last year.

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A wrap-up on trends in high-end real estate in Miami for 2015 suggests that there is still momentum in markets in South Florida. Even though Miami is considered on par with luxury world locales such as has New York City, London and Hong Kong, Miami’s luxury real estate market remains the most affordable luxury in terms of value. ONE Sotheby’s International Realty’s end-of-year trend report for 2105, in a nutshell, shows strong price appreciation in both the Miami-Dade and the Broward markets since 2011. In that five-year span, the Miami-Dade market is up 60 to 100 percent and the Broward market is up 20 to 50 percent. Both of those markets are impacted by slightly different forces, the report said. Miami is heavily influenced, especially in the higher brackets, by foreign buyers. Broward, on the other hand, and especially in the condo market, is more influenced by the strength of the U.S. economy, which is good and is projected to stay that way into 2016. In the words of the...