The list of the best places to be a real estate agent in 2018 was recently released, and Miami did not fare so well. Miami came in 117th place out of 179 cities, according to WalletHub’s rankings.
The rankings cite Miami’s market health as a detriment to agents (it ranked as the 148th healthiest real estate market), in part because of the dearth of inventory in the luxury condo market. It was beat out by a number of Florida cities, including Tampa (No. 41), St. Petersburg (70), Orlando (72), Jacksonville (91), Cape Coral (95).
In other news:
- Miami single-family homes continue to increase in price. Homes in Miami-Dade County rose in price by 8 percent in March, which marked the 76th consecutive month that single-family home prices have increased, according to the Miami Association of Realtors. Condo prices haven’t had the same trajectory, but the prices are climbing nonetheless: condo prices have increased in 79 of the last 82 months.
- Habitat Group’s latest development is called “Smart Brikell” and will feature some of the most technologically advanced units in the area, Habitat Group’s CEO Santiago Vanegas told Multi Housing News. The units will include flexible designs with Wi-Fi enabled everything, including thermostat, lightbulbs and other appliances. Condos will come equipped with Amazon Echo technology and residents will have access to a concierge app. The three towers are slated for completion in 2020.
- A new study from Harvard University says that homes in lower elevations around Miami are selling for less and are seeing slower value gains than other homes, according to the Miami Herald. Researchers believe that buyers are factoring climate risks into their real estate decisions, a trend that could have a significant impact on the Miami housing industry. Real estate professionals interviewed by the newspaper say climate change has not yet impacted sales in beach-front areas.