Report finds buyers are backing off from buying second homes, but what’s causing the turnaround?

The home is 6,477 square feet and features seven bedrooms, eight bathrooms and an outdoor half-court basketball court.

Our expectations and desires have shifted, with renters searching for more space. And, according to a new study from RentCafe, Miami is on the pricier side.

Villa Positano at 3080 Munroe Drive in Miami sits on 300 feet of waterfront in Camp Biscayne, a gated community within Coconut Grove.

One of the units closed in December for $2.825 million, or $889 per square foot, a record for the area.

The 12-story building includes 228 residences, ranging from studios to two bedrooms, at a cost of $329,000 to $829,000. 

The nine-bedroom residence includes numerous high-end amenities, including elevator, pet room, theater, pool, dock and four-car garage.

In Miami, 28 homes sold for at least $100,000 over asking price, up from four in 2021.

The East Tower at 1809 Brickell Ave. will include 149 residences, ranging from two-bedroom units at 2,300 square feet to 8,900-square-foot duplexes. Prices start at $2.8 million.

The office at 701 E. Broward Blvd. expands RelatedISG’s presence in Broward County, joining the company’s Weston office there. RelatedISG’s new Director of Sales Robert Esposito will lead the new office.

RE/MAX Advance Realty/All Keys agents Curtis Skomp, Greg Dully and Michael Petro represented the buyer and brokered the transaction.

StorageCafe conducted a study on construction in the 50 largest metros — and among them, Miami-Fort Lauderdale-Pompano Beach ranks ninth for growth.

It’s the third consecutive year The Jills Zeder Group has reached the top spot. The group achieved a sales volume of $2.25 billion in 2021.

Nationwide, there are 481 million-dollar cities on Zillow’s list, meaning towns with a typical home value of $1 million or more.

The median household income in Miami is $43,400 and the median home price is $589,000. 

A five-bedroom, six-bathroom penthouse with a 4,000-square-foot terrace is on the market for $14.9 million.