Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 321

Miami Condominium Prices Rise for 20 Consecutive Months

Posted by fidest press agency su venerdì, 22 marzo 2013

Miami, FL – The Miami real estate market continued to strengthen in February, as prices again increased despite limited inventory, according to the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. Strong demand coupled with dwindling supply continues to fuel significant price appreciation.Miami-Dade County residential sales increased 6.5 percent in February compared to a year earlier. The sales of existing single-family homes in Miami-Dade increased 6.8 percent, from 795 to 849. Sales of existing condominiums increased 6.3 percent, from 1,153 to 1,226, year-over-year.Statewide sales of existing single-family homes totaled 15,666 in February, up 10.3 percent compared to a year ago, according to the latest data released by Florida Realtors. Statewide condominium sales totaled 8,028, up 7.0 percent from February 2012. Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 0.8 percent from January and were 10.2 percent higher than they were in February 2012, according to the National Association of Realtors.
Miami home prices rose again in February, marking 15 consecutive months of appreciation for both single-family homes and condominiums. The median sales price of Miami-Dade condominiums, which has increased each of the last 19 months, rose 26.9 percent to $165,000 compared to a year earlier and 6.5 percent compared to the previous month. The median sales price of single-family homes rose 10.9 percent to $194,000 year-over-year and remained the same compared to the previous month.The average sales price for single-family homes in Miami-Dade County increased 30.3 percent to $389,368. The average sales price for condominiums increased 14.7 percent to $304,472.Statewide median sales prices in February increased 12.8 percent to $150,000 for single-family homes and 21.1 percent to $115,000 for condominiums. The national median existing-home price for all housing types was $173,600 in February, a 11.6 percent increase from February 2012, according to the National Association of Realtors (NAR).
Strong demand for bank-owned (REO) properties and improved processing of short sales continues to yield absorption of distressed listings and to contribute to price appreciation. In January, 42.2 percent of all closed residential sales in Miami-Dade County were distressed, including REOs (bank-owned properties) and short sales, compared to 53.6 percent in February 2012 and 43.2 percent the previous month. Nationally, distressed homes accounted for 25 percent of February sales.Cash Sales Reflect Presence of International Buyers
In Miami-Dade County, 66.8 percent of total closed sales in February were all-cash sales, compared to 65.5 percent in February 2013 and 64.7 percent the previous month. Cash sales accounted for 49.6 percent of single-family, a 16.0 percent increase over previous year, and 78.1 percent of condominium closings, and increase of 4.8 percent over previous year. Nearly 90 percent of foreign buyers in Florida purchase properties all cash. This reflects the much stronger presence of international buyers in the Miami real estate market – by comparison all-cash sales nationally accounted for 32 percent of transactions in February, up from 28 percent the previous month and down from 31 percent in February 2012.
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating more than 90 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 25,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local association in the National Association of Realtors, and has partnerships with more than 100 international organizations worldwide. MIAMI’s official website is http://www.miamire.com.

24 Risposte to “Miami Condominium Prices Rise for 20 Consecutive Months”

  1. Lidia said

    Having read this I thought it was extremely enlightening.
    I appreciate you taking the time and effort to put this informative article together.
    I once again find myself spending a lot of time both reading and commenting.
    But so what, it was still worth it!

  2. Velva said

    I am not sure the place you are getting your information, however great topic.
    I must spend a while learning more or figuring out more. Thank
    you for magnificent info I used to be searching for this info for my mission.

  3. Rubye said

    Pretty great post. I just stumbled upon your weblog and wished to say that I’ve truly loved browsing your weblog posts. After all I will be subscribing on your feed and I am hoping you write again very soon!

  4. I think this is among the most important info for me. And i’m glad reading your article. But want to remark on some general things, The web site style is perfect, the articles is really nice : D. Good job, cheers

  5. Ann said

    Fantastic beat ! I wish to apprentice even as you amend your website, how could i
    subscribe for a weblog site? The account aided me a applicable deal.
    I were tiny bit acquainted of this your broadcast offered vivid clear idea

  6. Have you wondered I would like to see how much is my
    car worth?
    There are lots of options, so it may be daunting
    unless you know who you can trust.

  7. I’ve been pondering whether to sell my car for a while
    now. And it’s a nightmare to hear about amazing car buyers in my local area – well,
    until I came across a respected group of car dealers.

    See, trusted car buyers are very hard to find
    on the net these days – unless of course, you
    know where has been approved.

  8. I’ve been pondering whether to sell my audi for some time now.

    And it’s a nightmare to find fair car buyers in the local area
    – well, until I came across a trusted network of dealers.

    See, trusted car buyers are very hard to stumble upon on the internet these days – unless you know where has been approved.

  9. Woah. Cheers for sharing.

  10. I discover a whole lot of web blogs, though your website is a pleasure to
    read through.

  11. The design is a real gem. This kind of thing makes all the difference when wanting
    to spend time on a blog. Well, you’ve definitely got me coming back for
    more..

  12. It’s really a cool and useful piece of information. I am satisfied that you just shared
    this helpful info with us. Please keep us up to date like this.
    Thank you for sharing.

  13. This really encourages me. I just want to write as amorously as you.

  14. Jai said

    Great piece of writing man. Just can’t wait for your upcoming post.

  15. buy my car said

    I’m looking at establishing my own blog. Would you provide me with a
    couple of pointers?

  16. Chandra said

    Thanks for a remarkable blogpost. Actually exciting.

  17. I wish I was able to write better. So want to set-up a
    site similar to this.

  18. Thanks forr such a well-written article. Makes
    me want to start operating a blog once more.
    Pretty much any guidance on how most effective to get started…

  19. Rigoberto said

    Great read. I feel I to start out crafting blogposts once again

  20. Thanks a lot for the awesome blogpost. Truly captivating.

  21. Fantastic writing. Exactly what your own resources?
    Generally think it is slightly challenging to begin the process.

  22. Cheers for your fabulous piece. Truly captivating.

  23. Exactly how have you set-up your own site?
    I personally want to start one up about autos, however you should not know the way to actually get on the ball.
    Some guidance is considerably appreciated 🙂

  24. Great blog. Inspires me to want to start writing articles
    online yet again

Rispondi

Inserisci i tuoi dati qui sotto o clicca su un'icona per effettuare l'accesso:

Logo di WordPress.com

Stai commentando usando il tuo account WordPress.com. Chiudi sessione /  Modifica )

Google photo

Stai commentando usando il tuo account Google. Chiudi sessione /  Modifica )

Foto Twitter

Stai commentando usando il tuo account Twitter. Chiudi sessione /  Modifica )

Foto di Facebook

Stai commentando usando il tuo account Facebook. Chiudi sessione /  Modifica )

Connessione a %s...

 
%d blogger hanno fatto clic su Mi Piace per questo: