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Press Release - Miami Beach Real Estate a Buyer's Market

It’s officially a buyer’s market in Miami Beach and surrounding South Florida communities. Real estate prices couldn’t continue to climb at the rapid rate of the boom days.

Miami, FL (PRWEB) October 16, 2006 -- It’s officially a buyer’s market in Miami Beach and surrounding South Florida communities, according to Alex Shay, a prominent Miami Beach real estate broker, whose award winning website, www.alexshay.com , features some of the most beautiful residential real estate in all of the world. “The market was bound to change,” said Alex Shay. “Real estate prices couldn’t continue to climb at the rapid rate of the boom days of a couple of years ago, and this is how it should be. The luxury home market is just beginning to once again become balanced, and soon the buyers will be out again in droves, because Miami real estate is still undervalued, relative to real estate in other parts of the country,” said Shay.

Nonetheless, real estate market conditions have been less than favorable lately if you are a seller in Miami. For example, according to data supplied by the Coral Gables, Homestead-South Dade, Kendall-Perrine, and Northwestern Association of Realtors or their MLS, in June of 2005, there were 3,261 single-family homes on the market in Dade County(which includes Miami, Miami Beach, and a number of surrounding smaller cities), with 1,196 sales. In January of 2006, there were 6,364 single-family homes on the market, with only 687 sales. In August of this year, there were 10,579 single-family homes for sale in Dade County, but there were only 705 sales.

The condo market in Dade County has been similar. In June of 2005, there were 5,550 condos for sale in Dade, and there were 1,564 sales. However, moving into January of 2006 there were 11,800 condos listed on the market for sale, but only 915 sales. In August of this year, there were 18,133 condos in Dade for sale, with the number of sales falling to a 15 month low of 823 condos sold.

Shay believes that buying real estate in Miami is a wonderful opportunity for those who love the “magic city”, and for those who have an interest in investing their money in some of the best real estate that dollars, euros, pounds, or any other currency, can buy. “I came to Miami many years ago,” said Shay, “and it always feels like you are on vacation around here. It’s a wonderful place to live and work.” Some of the most beautiful homes in all of Florida, if not in all of the world, are featured on Miami FL Real Estate, and Shay welcomes all of those who have an interest in Miami luxury real estate to visit his website.

“I want people to buy real estate in Miami Beach, because Miami luxury real estate is always going to be a good investment. The doldrums of the real estate markets of the 70’s and 80’s are long gone, and in 2006 and 2007, those who invest in Miami real estate are going to be very glad they did,” said Shay, “and a buyer can make a great deal right now.” Miami is an international city, and the most unique city in America, with it’s warm ocean breezes, and sunny, bright days. The weather and the wonderful beaches are among the predominant reasons that people from all over the world come to Miami Beach. It’s beautiful all year round. It is the third most visited city in the United States, behind New York and Los Angeles.

Alex Shay is an experienced real estate broker, who specializes in luxury real estate in Miami, and Miami Beach, as well as Coral Gables, Key Biscayne, Aventura, Bal Harbour, Indian Creek, and all of the surrounding South Florida community. He has been licensed to practice real estate in the State of Florida for over 20 years, and he brings his expertise and negotiating skills to his clients, whether they are his neighbors, or clients from as far away as Taiwan. “We are in a buyer’s market now”, he said, “and it’s a great time to invest in Miami real estate.” Literally thousands of homes can be viewed on his user friendly website (Miami Real Estate).

 

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