- This Week in Miami
- Posts
- Miami Marine Stadium Revamp, Gas Prices Drop, and Heat's Winning Start 🏀⛽🏟️
Miami Marine Stadium Revamp, Gas Prices Drop, and Heat's Winning Start 🏀⛽🏟️
Get the latest pulse on why home prices remain high, major changes coming to Miami Marine Stadium, and how the Miami Heat kicked off their season. Stay informed and ahead of the curve.
Joe Biscaha
October 27, 2023
Happy Friday Miami!
In this weeks update:
🏠 Why Are Home Prices Still Soaring? Dive into the data behind the median price of single-family homes holding steady at $450,000.
🚤 Commissioners Greenlight Miami Marine Stadium Improvements: Get the lowdown on what changes to expect and why it matters
🏀 Miami Heat's Opening Win: How did Miami Heat's Twitter community react to the nail-biting season opener against the Detroit Pistons?
In case you missed it
Real Estate Update
Why are home prices so high still?
This week, the median price of single-family homes in the U.S. came in at $450,000 – which is about the same as it was this time last year. (Source: Altos Research)
So why are home prices still so high?
Let’s take a closer look at the data.
Typically by mid-May, we see inventory grow 15-20% from the start of the year.
In 2023, it’s a different story.
Available inventory has shrunk by 14%, and buyers are devouring the homes that hit the market. (Source: Altos Research)
In fact, nearly 50% of homes that are selling are doing so within 2 weeks. (Source: Redfin) Limited homes for sale plus buyer resilience is why home prices are still high in the U.S.
There’s never a dull moment in the industry, and especially now – it’s a critical time to stay informed. I’m here when you need me. 🙌
What to do this weekend
Joe’s Quick Links
Moving to Miami? 🚚🌴Watch my Youtube Playlist
Read what my clients say about me 🤩 Google reviews
Curious about your home’s value? 🏠️ Find out what your home is worth
Learn more about me & my services 💻️ On my Website
Want to support my business for free? It's easy!
I LOVE reviews, engagement on social media, and connections with people looking to buy or sell. I'd be forever grateful for you support!
Have a great weekend!!
-Joe