The amendment lowering property taxes could cause some homeowners to move into more luxury homes. 

At the same time, existing-home sales rose in Naples but fell in the Miami area.

The $817 million construction financing will be used to complete the twin-tower development, which is expected to open on the Miami River in early 2030. 

The project, located at 2545 South Bayshore Drive on Biscayne Bay, will begin selling this fall with Douglas Elliman Development Marketing leading sales. 

In Miami, home prices surged 4.24% year over year and 0.17% month over month in August.    

The twin-tower development is Swire Properties’ largest project to date. 

The expansion follows the merger of Stellar shareholder West Pasco Board of REALTORS® and the Hernando County Association of REALTORS®.   

At the same time, the pace of total home sales is on the decline, MIAMI REALTORS® + RWorld said.   

The new champ is 94027 in Atherton, California, also known as the “billionaire capital of Silicon Valley.”

Compass Development and marketing was brought on to help Brown Harris Stevens sell the 54 condominiums. 

Economists were expecting a monthly decline in the annual sales rate. 

The 12 ultra-luxury units will start at $32 million apiece. 

By renaming it The Plaza Davie District, El-Ad hopes to cement the 2.8 million-square-foot development’s status as an amenity-driven destination. 

The acquisition adds almost 2,000 agents to the HomeSmart network, bringing it to over 27,000 agents nationwide.  

The 342-unit development is expected to welcome its first tenants in November. 

The $650 million tower is being developed by Prosper Group and Versluys Group.