"This year is shaping up to be one of stability for South Florida real estate following a “reset” in 2016, according to new market reports released Thursday.

The luxury residential segment continues to be soft at the top in Miami and some of its neighboring cities, particularly in the luxury condo market where developers have flooded the market with new units. But in many ways, first quarter metrics improved over the end of 2016, a sign that the South Florida market is stabilizing, according to Douglas Elliman’s first quarter reports for Miami and its neighbors."

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