London Foster Realty at Dadeland
Liz Kenneally | Realtor

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Miami-Dade County has experienced a notable surge in total home sales, marking a second consecutive month of year-over-year growth. The latest data released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system reveals that South Florida leads the nation in both price appreciation and international migration, highlighting the region's enduring appeal.

In February 2024, Miami-Dade's total home sales increased by 0.8% compared to the previous year, underscoring the sustained demand for properties in the area.

Gus Fonte, Chairman of the Board at MIAMI, attributes this growth to Miami's unparalleled lifestyle and economic advantages, which continue to attract global attention. Fonte emphasizes the significance of choosing a market with a proven track record of appreciation, pointing to Miami's consistent rise in home values over the past 12 years.

Key Highlights from the February 2024 Report



1. Increased Demand in Single-Family Homes: Miami saw a notable uptick in single-family home sales, rising by 5.1% year-over-year. However, existing condo sales experienced a slight decline of 2.5%, primarily due to inventory constraints and elevated mortgage rates.

2. Rise in Mid-Market Condo Sales: Despite the overall decrease in condo sales, there was a notable surge in mid-market condo transactions, particularly in the $400,000 to $600,000 price range, which witnessed a 16.4% increase compared to the previous year.

3. Recovery of New Listings: Miami's new listings have been steadily recovering, nearing pre-pandemic levels. This increase in inventory provides buyers with more options and has contributed to a more competitive market environment.

4. Optimistic Outlook for Spring Market: With the spring season approaching, MIAMI REALTORS® Chief Economist, Gay Cororaton, anticipates a healthy upswing in the market, fueled by robust demand and a greater inventory of homes. Cororaton highlights the significance of more choices for buyers, particularly in the single-family home segment.

5. Continued Price Appreciation: Miami-Dade County continues to witness robust price appreciation, with single-family home median prices increasing by 17.1% year-over-year. This marks the longest streak of consecutive price increases on record, underscoring Miami's resilience in the real estate market.

6. Economic Impact: The local real estate market continues to drive economic growth, with every home sale contributing to job creation, income generation, and new construction activity. In February 2024 alone, Miami's total home sales amounted to a local economic impact of $208 million.

7. Persistent Cash Sales:Cash transactions remain prevalent in Miami's real estate market, accounting for 43.3% of all closed sales in February 2024. This trend reflects Miami's appeal to foreign buyers and investors, as well as individuals relocating from more expensive U.S. markets.

Overall, Miami-Dade's real estate market demonstrates resilience and continues to attract buyers and investors alike, buoyed by its enviable lifestyle offerings, economic vitality, and sustained price appreciation.


About Author: Liz Kenneally, a seasoned Miami real estate agent, boasts extensive experience in the city's vibrant market. Specializing in sought-after neighborhoods including Coral Gables, Dadeland, Continental Park, East Kendall, Pinecrest, South Miami, and The Falls. Liz is fluent in both English and Spanish, ensuring smooth transactions for her diverse clientele. Contact her at 786-423-3348 or complete the simple EMAIL AGENT form located beside this blog content.


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What my clients are saying  

Efficient, Effective, and Ethical! Working with Liz Kenneally was an absolute pleasure. Her efficient and effective approach to real estate made the entire process seamless and stress-free. From the moment we met Liz, we knew we were in good hands. She took the time to listen to our needs and preferences, ensuring that we found the perfect home in South Miami. Liz's commitment to ethical practices and transparency gave us peace of mind throughout the transaction. We highly recommend Liz to anyone looking for a trustworthy and reliable realtor in Miami.

 

~ Michael and Jennifer D.

I hired Liz Kenneally to lease out my apartment, and within just 1-2 weeks, she secured long-term tenants who have been a great to work with for the past three years. Her efficiency, professionalism, and warm demeanor made the entire process seamless. Liz understood my needs and executed flawlessly. I couldn't be happier with the outcome. I wholeheartedly recommend Liz!

 

~ Sofia I.

Finding office space for my company was made effortless thanks to Liz Kenneally's exceptional service. Referred to her by a trusted source, I quickly understood why she comes highly recommended. Liz guided us through every step with professionalism and expertise, ensuring we secured the perfect space to meet our needs. The office space exceeded my expectations, boasting a prime location, generous square footage, and excellent amenities. Liz's attention to detail facilitated a seamless transition into our new workspace. Her responsiveness and proactive communication made the leasing process a breeze. Working with Liz Kenneally was a pleasure, and I wholeheartedly recommend her to anyone in search of commercial real estate. Five stars all around!

 

~ Paul M.

Professionalism Personified! Liz Kenneally is the epitome of professionalism. Her attention to detail, proactive communication, and tireless work ethic set her apart from other realtors. Liz guided us through the process of buying our dream home in Coral Gables with ease and confidence. She was always one step ahead, anticipating our needs and addressing any issues promptly. Liz's commitment to excellence and integrity made us feel confident and reassured throughout the entire transaction. We cannot recommend Liz highly enough!

 

~ James and Amanda R.

Liz Kenneally proved to be an exceptional real estate agent. Her expertise in Dadeland area homes, our preferred locale, was truly impressive. Liz's dedication to understanding our needs, preferences, and budget constraints was evident throughout our interactions. She tirelessly worked to find us the perfect home, keeping us updated and promptly addressing all our questions. Liz made the entire process enjoyable, turning house hunting into an adventure. I enthusiastically endorse her to anyone in the market to buy or sell. Thank you, Liz, for your outstanding service!

 

~ Camila I.

5 Stars for Responsiveness, Negotiation skills, Professionalism and communication, Market expertise, Was on point at every turn, from offer to closing.

 

~ Jordi B

Liz went above and beyond to market our property effectively, attracting a flood of interested buyers. Her attention to detail and commitment to showcasing our home in the best possible light truly paid off. We couldn't believe it when offers started pouring in, and even more so when the final sale price exceeded our initial expectations! It was the highest sold price in the community! Liz was responsive, proactive, and always had our best interests at heart. Her negotiation skills were impeccable, ensuring that we got the best possible deal for our property.

 

~ Willy and Gloria P.

Liz was the listing agent for a Miami property I called on and made an appointment to see . That's how it all started.I wasn't working with any agent and I told Liz I didn't want to commit to anyone. She stated she understood, nevertheless, she was relentless in keeping in touch with me. Finally, in one of her phone calls, Liz asked me if she was working hard to get my business ? I said yes, of course. Then she stated, "Imagine, what I am capable of doing in finding and negotiating for you in a tough and competitive Miami market?". That clinched it !

 

~ Arile R.

I want to thank this wonderful Lady that stuck with me until I found just the right place. I am very satisfied and you will always have a friend here. Thank you for everything Liz, you're the best.

 

~ Manny

We trusted her strategy and ended up buying the property that we were initially turned down on. You can say Liz turned that No into a Yes for less money! She is relentless. Thank you, Liz, you are a hard worker, trustworthy, on top of your game and simply a pleasure to team up with you

 

~ Alex Y.

As a business man, one of the things that impressed me about Liz is is her negotiation skills, patience and cool under pressure. She looks for a win-win even though at times we were just being one sided. Liz reminded us it's a sellers' market with properties selling quickly at or little above asking price in the area we wanted to buy.Whatever we weren't familiar with, Liz simplified it so we felt comfortable and understood the transaction.

 

~ Vincent S.

"...One of her best qualities is her ability to stand back, listen to your needs, present you all the alternatives and let you make the original decisions. She is not assertive with her opinion but when she says you better listen because it will be in your own best interest..."

 

~ Ioannis L.

I had a great experience with Liz in the sale and purchase of my new home. She was always available to answer questions with great confidence and knowledge. I consider her a personal friend since we met, through the process of buying this home. Highly recommend her to anyone looking to sell or buy.

 

~ Maria D

Ms Liz Keneally was a angel sent. I was going through personal hardship. And having a hard time not only selling The property but with the result of impending foreclosure. Which at the time was a very difficult time in my life. And she came along. And got a contract within a week. And I have nothing but gratitude towards her and her team. That treated me and my children like family.

 

~ Xenia L.

Liz has been a wonderful real estate agent for us. She is an excellent communicator, and communicates in a very timely manner. Liz provided easy to understand comparisons when we had multiple offers for the property that we were selling. Liz makes sure that all the details are taken care of, and most importantly perseveres in resolving the many issues that arise in a real estate transaction. We have been extremely happy with the work that Liz has done for us. We would highly recommend her for anyone who is seeking to sell or buy property.

 

~ Gary N

As a first time home buyer, I was nervous and worried about being taken advantage of. Liz calmed my nerves and guided me through the process. She was easy to communicate with and took the time to educate me.There were times, we had to negotiate and Liz always made sure to keep the deal alive, while protecting my interests. I have only wonderful things to say about her and would work with her again.

 

~ Sarah S.

Liz was professional from the exploratory stages of home buying to its completion. As a first-time buyer, I was looking into foreclosures. I did not expect the unexpected to say the least. From negotiations to paperwork, I am truly grateful for Liz's knowledge and skills. She guided me through the process and stood by my side when delays arose and frustrations even larger. Her calmness and verbal prowess ultimately helped me secure my very first home! Thank you, Liz!

 

~ Hennifer M

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