Real estate update: sales of condos over $1 million are up 625% from last year

Source: Islander News — 

With an average of 661 people a day moving to Florida and the fact that just three South Florida counties — Miami-Dade, Broward and Palm Beach — contain 30 percent of the state’s 21.6 million-plus population, supply and demand continues to drive the real estate market.

Ron Shuffield, President and CEO of Berkshire Hathaway HomeServices EWM Realty, on Wednesday unveiled his second quarter analysis for 2021, taking a glimpse at more permanent buyers — rather than investors — fueling the South Florida market; rising sales of more expensive homes (1 in 5 are now over $1 million); idyllic living on Key Biscayne; interest rates; and what the tragedy in Surfside might mean for condo owners and prospective buyers.