Miami Pending Home Sales are on the upswing

 

by the MIAMI Association of REALTORS

Total current cumulative Miami pending home sales – including single-family homes and condominiums – in Miami-Dade County increased 15 percent compared to a year ago, from 10,366 to 11,936, and .23 percent, up from 11,860, compared to the previous month according to the 24,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems.

May Contract Activity
The total number of listings, including single-family homes and condominiums, that pended during the month of May increased by 29 percent, from 2,718 to 3,508, compared to the previous year.

“International buyers increasingly are having a positive effect on the Miami real estate market, as sales continue to exceed last year’s levels, which were boosted by the homebuyers tax credit,” said Jack H. Levine, 2011 chairman of the board of the MIAMI Association of REALTORS.  “Current figures corroborate the healthy market activity agents are experiencing first-hand and the evident demand for local properties.”

Cumulative Pending Sales on the Rise
In the current month, pending sales of single-family homes performed better than that of condominiums.  Pending sales of single-family homes are 12 percent higher than they were a year ago, up from 4,490, and are 2.2 percent above what they were last month, up from 4,919.  Pending sales of condominiums are 18 percent above what they were a year ago, from 5,876 to 6,909, and a negligible .46 percent lower compared to last month, when pending condominium sales totaled 6,941.

 

For full article please check our Miami Market Report page.

 

Posted by ricardo on 7/7/2011 | |

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