South Florida Real Estate Report – May 2024
By The Sea Realty Blog
by Rich Barnhart
3w ago
Inventory Levels Continue to Grow Throughout South Florida A slower than average winter/spring season provided an increase in housing inventory throughout South Florida. This is a welcome event for buyers who have struggled with low inventory levels in recent years. Despite the increase, single family inventory remains quite low at 4.4 months of supply. This is still a seller’s market. On the other hand, condo inventory rose to a more normal level of 7.8 months of supply. This is approaching a buyers market. Single family home sales were up just 1% from last year to 3,790 closed sales in the t ..read more
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South Florida Events – June 2024
By The Sea Realty Blog
by Rich Barnhart
1M ago
Featured Events for June 2024 Check out our featured local events from Fort Lauderdale to Key West to the Palm Beaches and beyond. Looking for more South Florida Events? Check out our Local South Florida Events Calendar. Scuba4Good Music Festival June 1st – Lauderdale-by-the-Sea Now in its 8th year, the Scuba4Good Music Fest is the largest fundraiser in Florida for adaptive diving. By The Sea Realty is a proud sponsor and we urge you to help us in supporting this amazing cause. Join us for a free concert on the beach in Lauderdale-by-the-Sea. This amazing festival features 4 bands, craft ..read more
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Tuna Poke with Avocado
By The Sea Realty Blog
by Rich Barnhart
1M ago
Poke Bowls with Local Fresh Yellowfin Tuna Now is the season to catch Yellowfin Tuna in South Florida. If you are lucky enough to know any fisherman, then perhaps they have offered you some fresh tuna. If not, you can get fresh local tuna in Whole Foods or in any of the local fish markets like The Fish Peddler in Fort Lauderdale or Papa’s Raw Bar in Lighthouse Point. Tuna Poke has grown in popularity and is found on may local menus. There are even restaurants the specialize in “Poke Bowls”. Tuna Poke or “Ahi Poke” is traditionally made with raw yellowfin tuna. If you don’t like raw fish, then ..read more
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Working with a Buyer’s Agent
By The Sea Realty Blog
by Rich Barnhart
2M ago
Q&A On The New Buyer Representation Agreements As a result of the recent settlement by the National Association of REALTORS®, real estate agents will soon be required to enter into written agreements with buyers before giving property tours. Buyer Representation Agreements (aka Buyer Agency or Buyer Broker Agreements) are not new. We have used these agreements for years, but they have never been required in the state of Florida before. Some agents have already started using them. We welcome our buyers to sign an agreement with us, even before the new requirement begins in August. Beginni ..read more
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Oceanfront Condo Market Watch – May 2024
By The Sea Realty Blog
by Rich Barnhart
2M ago
Fort Lauderdale’s Oceanfront Condo Inventory is Varied We’ve been watching condo inventory carefully as many older condos go through milestone inspections and struggle to comply with new state condo regulations. After an active winter season, Northeast Broward County has a mixed bag of inventory across its diverse condo marketplace. The predominantly luxury segment on Fort Lauderdale Beach is experiencing excess inventory while Pompano Beach and Lauderdale-by-the-Sea have managed to keep inventory at more normal levels. Whatever the case, deals are getting done and we are weathering the condo ..read more
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Drivable Summer Trips for Floridians
By The Sea Realty Blog
by Kristen Eckblad
2M ago
Last Spring we shared 7 Cool Vacation Spots to Beat the Summer Heat, including cool summer getaways like Lake Tahoe, Seattle and Stowe, Vermont. In this blog we are featuring some amazing locations within driving distance of South Florida. Of course you can still fly if you want, but getting there can be half the fun. Holiday Road! Cool Vacation Spots Within Driving Distance of South Florida Crystal River, Florida Three Sisters Springs, Crystal River About an hour north of Tampa you’ll find Crystal River, a sleepy little Gulf town with a ton of character. Local activities include swimming with ..read more
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Waterfront Single Family Market Watch – May 2024
By The Sea Realty Blog
by Rich Barnhart
2M ago
New Inventory is Absorbed During Busy Season Northeast Broward County Sales volume this season was still a bit below normal levels, but activity was still strong enough to absorb the excess inventory in our market. We currently have 10.3 months of supply of single family waterfront homes in Northeast Broward County. That is down from 11.3 months at the start of the season in early February. We anticipate demand will remain strong through the spring and early summer which should continue to stabilize our housing supply. Inventory levels are also consistent across our different waterfront commun ..read more
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The Truth about the National Association of REALTORS® Settlement
By The Sea Realty Blog
by Rich Barnhart
3M ago
Good News For Consumers and Florida REALTORS® Rich Barnhart – Broker, By The Sea Realty If you have been following the news lately then you have undoubtedly seen or heard about the proposed settlement by the National Association of REALTORS® (NAR). The settlement has been granted preliminary approval with a final approval hearing set for November 26th. In the meantime, NAR is actively moving forward by implementing the terms of the settlement agreement. While denying any wrongdoing, NAR has agreed to the settlement as a means to protect their membership, and to provide a path forward for REALT ..read more
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South Florida Real Estate Report – March 2024
By The Sea Realty Blog
by Rich Barnhart
3M ago
Median Sale Prices at Record Highs for both Single Family and Condos March is always a busy month for our real estate market, and while closed sales were down from last year, sales activity has steadily increased over the past few months. This is normal for our winter season, but a positive trend nonetheless. However, inventory is a different story depending on which property type you are looking at. Single family home inventory has flattened out since last month, while condo inventory continues to grow. This is due in part to buyer’s hesitancy to buy older condos with ongoing construction, sp ..read more
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South Florida Real Estate Report – February 2024
By The Sea Realty Blog
by Rich Barnhart
3M ago
Median Sale Prices at Record Highs for both Single Family and Condos February sales volume was up month over month and year over year to kick off the winter buying season in South Florida. Median sale prices and inventory followed suit with both key metrics up year over year. Interest rates are also up slightly from the beginning of the year with the 30 year fixed rate averaging just below 7%. Buyers are still getting used to higher interest rates and affordability will continue to be a problem as long as inventory remains low. Single family home sales were up 3.4% over last year, but still we ..read more
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