The South Florida real estate market is still strong in July 2023, despite the rising interest rates. Home prices continue to climb, and inventory remains limited. This is due to a number of factors, including the region’s warm climate, desirable location, and growing economy.

According to Zillow, the median home value in South Florida is $455,761, up 7.0% from last year. The number of homes for sale is also down 16.4% from last year. This imbalance between demand and supply is driving up home prices.

If you’re thinking about buying a home in South Florida, it’s important to be prepared for a competitive market. You’ll need to be pre-approved for a mortgage and be prepared to act quickly when you find a home you like.

Here are some tips for buying a home in the South Florida real estate market:

• Call us to get pre-approved for a mortgage. This will show sellers that you’re serious about buying a home.
• Be prepared to act quickly. Homes in South Florida sell fast, so you need to be ready to make an offer as soon as you find a home you like.
• Be prepared to pay above the asking price. In a competitive market, you may need to pay above the asking price to win a bid.

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