by the MIAMI Association of REALTORS
Sales of existing condominiums in the Miami Metropolitan Statistical Area (MSA) increased 46 percent, from 972 to 1,420, compared to May 2010 and 1.1 percent compared to the previous month, according to the 24,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. Existing Miami home sales rose 20 percent in May, from 727 to 875, and 5.4 percent compared to the previous month.
In May, 60 percent of closed sales were cash transactions. International sales, which are mostly cash transactions, represent approximately 60 percent of closed resales and 90 percent of new construction sales.
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