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🏙️ Fort Lauderdale slowing down, while Miami stays red hot

🏙️ Fort Lauderdale slowing down, while Miami stays red hot

Volume #002 - unique insight into the Fort Lauderdale market, through the inside look into the Four Season Hotel and Residences.

David Anthony Ward
January 08, 2023

This week the WSJ has a very nice feature of a couple who are recent buyers at the Four Seasons Hotel and Residences Fort Lauderdale. The piece also gives key insight and data of the general luxury Fort Lauderdale market which appears to be lagging significantly to its Miami counterpart.

"Home sales in Broward County (which includes Fort Lauderdale) in November 2022 were down 35% (when comparing same sales) from November 2021, and real estate listings rose for the 5th straight month, according to the Miami Association of Realtors and MLS," the article claims. For more details about these trends in Fort Lauderdale homes, the Burrage family, and the Four Seasons Residences, read the full article below:

After Catching Up to Its Neighbors, Fort Lauderdale Faces a New Challenge: The Housing Slowdown

Bolstered by a slew of new developments, the city’s luxury market joined the ranks of Miami and Palm Beach. But the downturn is testing the area’s growth, as sales slow and prices fall.

https://www.wsj.com/articles/after-catching-up-to-its-neighbors-fort-lauderdale-faces-a-new-challenge-the-housing-slowdown-11672868363?st=ujdkx9ytidb4ayg&reflink=desktopwebshare_permalink

Miami's top Real Estate brokers adapting to start 2023

Miami's Top Real Estate Agents - 2022 Ranking

Coldwell Banker’s Jills Zeder Group tops The Real Deal’s ranking of the top residential real estate brokers in Miami for 2022.

https://therealdeal.com/miami/2023/01/05/back-to-reality-for-miamis-top-residential-brokers/

Miami luxury market continues increases; nationally sales fall

Luxury Home Sales Plummet as 2022 Comes to a Close: Redfin

Even wealthier Americans were fair weather homebuyers in 2022 as interest rates climbed, according to Redfin.

https://commercialobserver.com/2022/12/luxury-home-sales-plummet-as-2022-comes-to-a-close-redfin/

Miami-Dade the "most competitive" rental market

Miami-Dade Ranks as “Most Competitive” Rental Market of 2022

Miami-Dade County ranked as the most competitive apartment market in the U.S., with an average of 32 prospective tenants vying for each available unit.

https://therealdeal.com/miami/2023/01/06/miami-dade-ranks-as-most-competitive-apartment-market-in-2022/

Companies offer big raises to retain their quality workers

Stay for Pay? Companies Offer Big Raises to Retain Workers

Workers who stayed put in their jobs have gotten their heftiest pay raises in decades—and helped fuel inflation.

https://www.wsj.com/articles/stay-for-pay-companies-offer-big-raises-to-retain-workers-11672607138

South Florida showed continued growth heading into 2023

South Florida Is Sitting Pretty Heading Into 2023

In a year of economic tail whips, South Florida's growth continued throughout 2022, fueled by strong fundamentals and demand.

https://commercialobserver.com/2022/12/south-florida-is-sitting-pretty-heading-into-2023/

Pomp Investments one of 6 new Brickell building tenants

https://www.bizjournals.com/southflorida/news/2023/01/06/brickell-building-has-six-new-tenants.html

Related Group secures funding for Baccarat branded condo

Related Nabs $164M Construction Loan For Brickell Rental Near Baccarat

The baccarat-branded condo next door is also moving forward, despite the discovery of ancient artifacts on site.

https://commercialobserver.com/2023/01/related-group-444-brickell-tower-ii-baccarat/

"FAT Village" Fort Lauderdale getting fatter via Related Group

Related Nabs $56M For Housing in Fort Lauderdale’s FATVillage

The 16-story development, called The Gallery at FATVillage, will feature 263 units.

https://commercialobserver.com/2022/12/related-group-fatvillage/