ONE Sotheby’s International Realty is proud to present the only market report focused on Florida’s East Coast. From Miami and Miami Beach to Cocoa Beach, data is presented from a macro perspective down to city level.
The regional housing market accelerated further during the first quarter, with prices increasing and homes selling rapidly compared to last year. Despite rising mortgage rates adding to the increased cost of ownership, demand for homes in most neighborhoods remained robust. The regional economy also accelerated, with the unemployment rate falling to 3.5%. The combination of moderate employment growth and migration of households to the Florida East Coast fueled the high demand for homes.
For-sale inventory continued to decrease during the first quarter, with available homes decreasing each month. Compared with the fourth quarter of 2021, single family home listings were 14% lower while available condo units were 25% lower. Read more in the full report...
