🏆 Residential: The top home sale recorded in South Florida was in Key Biscayne, where a home at 285 Woodcrest Road changed hands for $6.7 million, slightly above the home’s last asking price. The seller was an LLC led by Pedro Kolychkine, CEO of PK Management Group, and the buyers were Stephen and Mona Ward. The seller had purchased the property, built in the 1950s, in 2022 for $1.9 million. It spans about 3,600 square feet and has six bedrooms and five and a half bathrooms. Elena Chacon with BHHS EWM Realty had the listing, and Giulietta Ulloa, also with BHHS EWM Realty, brought the buyers.
🏆 Commercial: In Coral Gables, a one-story retail center at 3808 Southwest Eighth Street traded for $8.8 million, representing the priciest commercial deal to hit records in the tri-county region. The seller was an affiliate of Jilk Investments, which purchased the 11,500-square-foot building 25 years ago for $1.5 million. The buyer in the latest deal, which breaks down to $765 per square foot, was an entity managed by Masoud Shojaee’s Shoma Group, which is based in Coral Gables.
📊 Residential: Regan Remillard parted with a townhouse at 134 MacFarlane Drive in Delray Beach for $5.7 million. Mary Cool was the buyer. Remillard purchased the property in 2016 for $3.4 million. It measures just under 4,000 square feet and has three bedrooms and four and a half bathrooms. The deal works out to about $1,400 per square foot. The residence went on the market for $5.8 million in March. Geoff Braboy with Compass represented the seller, and Tom Vladimir with Gersper Team Realty represented the buyer.
By the Numbers: Texas leads nation for housing inventory growth
Texas continues to dominate the country’s housing boom, creating the most high-growth markets in the U.S over the past decade.
The Lone Star State ranks first for having 17 of the 50 — more than a third — ZIP codes that have grown the most from 2014 to 2023, according to an analysis by RentCafe, which looked at housing inventory and population growth across 32,000 ZIP codes.
Texas, particularly its suburbs, benefits from several factors that make it a top generator of new high-growth markets, along with many other Sun Belt markets, which had numerous ZIP codes on the top-50 list: abundant land, ease of permitting and lack of state income tax, said Doug Ressler, manager of business intelligence at Yardi Matrix, a sister company of RentCafe.If you like this digest, you can get it even earlier — every evening — by subscribing to TRD Data, here.