He got 15 offers in three weeks on a home in west Pembroke Pines listed for $269,900, and it is now pending, for $290,000.
Youve got buyers lined up waiting for properties to come in, said Bonfiglio, who is president of Greater Fort Lauderdale Realtors. As soon as something hits the market, everyone is jumping on it.
As the market improves, more buyers are also coming up with cash. In Miami-Dade, 78 percent of condos and 50 percent of homes, sold in February, were for cash, Realtors figures show.
In fact, half of the dozen homes FM Realty Corp. sold recently in Cutler Bay were all cash sales, ranging from $350,000 to $420,000, said Fernando Martinez, president of the Miami Realtors Association and owner of FM Realty Corp., and Caribe Homes.
International as well as domestic buyers are buoying the market, as multi-million dollar homes continue to bolster sales.
In Miami Beach, Jill Eber, of the Jills at Coldwell Banker, said her February sales included a 7,940 square-foot Palm Island home on 100 feet of waterfront that sold for $10.625 million to a Brazilian buyer, as well as a Sunset Island No. 1 home that sold for $7.55 million.
The market is continuing to go up, and were continuing to see interest from buyers from all over the world Brazilians, Russians, Saudi Arabians, as well as from Americans, Eber said.
At the same time, new construction is taking root all over South Florida, from new homes in South Miami-Dade like Briar Bay Estates, where Robles bought, to condo projects like Marina Palms Yacht Club & Residences in North Miami Beach, which plans two towers, each with 234 condos overlooking a 112-slip marina. In less than a month since the sales center opened, more than 120 units have been reserved.
At Briar Bay Estates, all 16 semi-custom homes sold out in less than a year, at prices from $429,000 to nearly $600,000, said Carlos Tosca, co-owner of Palmcorp Development, developer of the homes.
The market is very strong, and there is an undersupply of new homes, said Tosca, whose company has 10 more projects in the works. For us, its a good time to have a nice product out.