Buyers Seeking Value Should Focus on Condominiums, Not Single-Family Homes
New studies show that condominiums – not single-family homes – offer the best value and ability for buyers to capitalize on historically low interest rates.
In an article recently published by Inman, economists and real estate experts discussed how today’s buyers can fare better looking at condos. Single-family prices are surging due to low inventory, which is particularly notable for first-time buyers shopping around with affordability in mind.
“Buyers searching for condos can find a better deal, both on overall price and mortgage payments, because most condos are less competitive than single-family homes as people move out of densely populated urban areas,” Redfin chief economist Daryl Fairweather told Inman.
This broader trend reinforces why Merrick Manor and Coral Gables are second to none in the South Florida market. Merrick Manor is the city’s only brand-new, move-in ready condominium offering, with a variety of residences and price points to accommodate a wide range of buyers. The City Beautiful is a desirable escape from the region’s more congested and saturated urban markets, such as Miami’s Brickell District.
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor also has a Zillow Walk Score of 77, making it “very walkable.”
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit the Sales Gallery on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.