The condo market has suddenly become red hot

The average condominium sold for above its price tag for the second month in a row in June, signaling renewed demand following a slump in sales fueled by the COVID-19 pandemic. Redfin reported this week that the typical condo sold for 0.7% more than its asking price last month. The month before, condos sold at

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Condo sales rise as prices are discounted

Home buyers have rushed to take advantage of some big discounts on condominiums, and the condo market overall is now recovering strongly since the COVID-19 pandemic began. A report from the real estate brokerage Redfin shows that many home buyers have been looking to upsize since the start of pandemic-related lockdowns, heading to the suburbs

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CoreLogic: Condo inventory and sales growing fast

Condominium sales rebounded in June after taking a massive hit at the start of the coronavirus outbreak in the U.S., reaching a new year-over-year low point in May. That drop followed a late 2019 surge in condo sales, when the sector was growing at an even faster rate than that of single-family detached homes, CoreLogic

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Millennials and first-time buyers eye condos

Condominiums are selling for an average 16% lower than single-family homes, and that could make them more attractive for millennials and first-time home buyers, according to a new report by CoreLogic. The report says millennials could be pushed “toward buying condos because they tend to be more affordable than single-family homes and because condos typically

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Miami Beach Hospital to Be Converted into Condos

A Miami Beach hospital is to be converted into a condominium by a South Florida developer. The previously obsolete hospital property will find a new lease of life as a residential project. The Miami Heart Institute will be converted into a 126 unit condominium at a cost of $200 million. The site was purchased by

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Marnie Bennett: Being the Best in the Worst of Times

Keller Williams Realty International announced Marnie Bennett as their number one real estate professional last year. How could they not? In these, some say the worst of economic times, leading by example is all the more important. For the real estate professional who is suffering, take note of the extraordinary success of one woman.

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