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Changes in house prices for the area are publicly tracked on a regular basis using the Case–Shiller index; the statistic is published by Standard & Poor's and is also a component of S&P's 10-city composite index of the value of the residential real estate market. As of 2005, the Miami area had a total of 2.3 million housing units, 13% of ...
The boom, however, ended abruptly around 2008 when the real estate market crashed and the late-2000s recession began. By 2011 the market began to return, with new office and condominium projects such as Brickell House announced for construction beginning in 2012. [5] This was followed by a second boom that is currently active as of January 2019.
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When 600 Brickell came online in August–September 2011, it increased Miami's downtown office vacancy to nearly 25%, [7] and Class A Brickell vacancy to over 30%. [ 8 ] The Foram Group hired Jones Lang LaSalle , led by veteran brokers Glenn Gregory and Noël Steinfeld, to handle leasing for the nearly 615,000-square-foot (57,100 m 2 ) building.
Miami is a city of change. And Brickell is a neighborhood of change. Private estates gave way to office buildings and hotels in the 1960s and ‘70s. In the 1980s, the skyline changed even more ...
Also, house hunters are seeing more home options in the South Florida real estate market, with inventory increasing every month since February. Miami-Dade has 3.1 months of supply of houses ...
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