Every week, we ask a real estate professional for thoughts on the top trends in real estate.
This week, we talked with Amy Ballon, founder of Hemisphere Sales Group.
Miami Agent (MA): What do you consider the major strengths of the housing and condo market in Broward County?
Amy Ballon (AB): I think the biggest differentiator between Broward and Dade counties is that Broward is that Broward is not as multi-cultured as Miami is. What we find is that many of the buyers that come to Broward county are buyers that are going to use the product. They’re end-users. Buyers aren’t looking for an investment where they’re going to put their money in and then not pay attention to what happens to the building. It’s not investor driven, and that is the strength of the market.
MA: What are some of the differences between Broward and Miami?
AB: We’re seeing a trend of buyers from the south moving north because some of the areas in Miami have become very overcrowded, especially when compared to Broward. There’s an oppertunity in Fort Lauderdale and Pompano Beach to have that revitalization that we’ve already seen in Miami. Back when I started in 1996, there were only motels all the way down Sunny Isles Beach. Now, you have the Armani building, the Porsche building and the Sabbia building going up, the last of which is my project. Value is growing in Broward.
MA: How do you expect the market in Broward to perform this year?
AB: I expect it to be normalized compared to other markets. I expect a steady three to five sales a month, and I don’t see it slowing down. I see it staying at the current pace, not impacted by anything else going on in Miami.
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