Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 259

Posts Tagged ‘condominium’

November Marks Two Years of Price Appreciation in Miami

Posted by fidest press agency su venerdì, 20 dicembre 2013

Aqua waterfront condominiums in Long Beach, Ca...

Aqua waterfront condominiums in Long Beach, California, United States (Photo credit: Wikipedia)

Miami, FL – The Miami real estate market continued to grow in November as increased and properties sold fast and near asking price, according to the 31,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. November marked two years of consistent monthly increases in the median sales price for both single-family homes and condominiums.
Last month, the median sales price for existing single-family homes spiked by 19.2 percent, up to $232,500 from $195,000 in 2012. Meanwhile, the average sales price for single-family homes decreased slightly to $366,309 last month from $372,564 in November 2012.Existing condominium prices also experienced strong appreciation during the same period. Compared to November 2012, the median sales price for condominiums increased 14.5 percent to $180,000 from $157,250. The average sales price for a condominium was $311,323 last month, up 9.1 percent from $285,419 during the same period last year.
Listings of single-family homes saw a growth of 11.4 percent up to 1,754 new listings in November 2013 from 1,575 during the same period last year. Further, there were 2,416 new condominium listings last month, an increase of 1.9 percent from 2,372 in November 2012.
Combined sales of single-family homes and condos in November were consistent with historical averages despite experiencing a slight combined decline of 4.2 percent from 2,256 sales in 2013 compared to 2,356 during the same period in 2012. Meanwhile, combined listings for single-family homes and condos saw a strong growth of 5.6 percent up to 4,170 from 3,947 There were 982 single-family home sales in November, a slight decrease of 2.4 percent from 1,006 during the same period last year, but in line with historical trends. Meanwhile, condominium sales declined 6.3 percent over the same period, from 1,359 sold in November 2012 to 1,274 condominiums sold in November 2013. Similarly, this was consistent with historical trends for condominiums this time of year.

 

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Sales and New Listings of Miami Single Family Homes and Condos Continue to Boom

Posted by fidest press agency su sabato, 5 ottobre 2013

: : Now Miami's city hall.

: : Now Miami’s city hall. (Photo credit: Wikipedia)

Miami, FL – Miami’s robust real estate market was marked by a 71.3% growth in the sales of single-family homes valued $250,000 to $399,999 in August compared with last year, according to a new report from the 30,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. The monthly listings and sales reports also detailed strong growth in new listings for single family homes across multiple price ranges and a sharp 72.7% increase in the sales of condos valued between $400,000 and $599,999.
The Miami real estate market continues to experience strong sales across different price ranges. There were 1,210 single-family homes sold in Miami last month compared with 1,051 in August 2012, an increase of 15.1%, according to MIAMI’s monthly market report. Of those 281 sales, 139 properties were valued between $250,000 and $299,999, which marked an impressive 80.5% increase from the same period the previous year. Additionally, the sale of single-family homes valued between $300,000 and $399,999 saw an increase of 63.2%.Meanwhile, the sales of condos were driven by a significant 64% growth in closings of properties valued between $400,000 and $999,999. Specifically, there were 171 condos sold between $400,000 and $599,999, a growth of nearly 73% relative to 2012. This trend was also consistent with higher-end condos in which the 96 Miami properties that were sold with a valuation of $600,000 to $999,999 marked a 50.8% growth from the 65 that were sold during the same time last year.“The double-digit boom in the sales of Miami residential properties in most price points is truly remarkable,” said Fernando I. Martinez, MIAMI residential president. “The fact that this boom is not isolated to one sector is a sign that Miami’s real estate market is positioned for continued long-term, sustainable growth.”Double-Digit Growth in New Listings of Single-Family Homes and Condos The double-digit growth in the listings of Miami condos and single-family homes is further evidence that South Florida’s real estate market is booming and that there is still insufficient supply to keep up with the strong demand for new properties.The 2,009 single-family homes listed in August represented a 3% growth from new listings in July. Nearly 22% of August’s listings originated from single family homes valued between $250,000 to $299,999 and $400,000 to $599,999. The 210 new listings of the former signified a robust 54.4% increase from the same period in 2012; moreover, the 224 new listings for properties with the latter valuation represented a substantial increase of 44.5% compared to last August’s 155 new listings.The vigorous growth in the new August listings of condos centered around more affordable properties valued between $100,000 and $199,999 which saw an increase of 67%. In August there were 500 new condos listed with an asking price between $100,000 and $149,999, a growth of 57.2% relative to 2012 when 318 condos in the same range were listed. In addition, $150,000 to $199,999 condos also saw double-digit growth. There were 337 new listings within this range, marking an increase of 35.3% versus the 249 new listings in August 2012.

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Miami Home Prices Continue 21-Month Rise

Posted by fidest press agency su domenica, 22 settembre 2013

Miami, FL – The Miami real estate market continued to gain momentum in August, as prices andsales again rose year-over-year, generating rapid sales and offers close to asking price, according to the 30,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system.Single-family home sales rose again in August, up 15.1 percent from 1,051 a year earlier to 1,210 this August. Condominium sales increased 7.9 percent, up from 1,476 in August 2012 compared to 1,592 last month.
August’s figures mark 21 consecutive months of appreciation for both single-family homes and condominiums in Miami. The median sales price of single-family homes surged 20.5 percent to $235,000 year-over-year and 2.2 percent compared to the previous month. The median sales price of condominiums, which has significantly increased each of the last 26 months, spiked 27.5 percent to $180,500 compared to a year earlier and 5.3 percent compared to the previous month.
Compared to August 2012, the average sales price for single-family homes in Miami-Dade County decreased 11 percent to $364,960, while the average sales price for condominiums increased 22.3 percent to $346,847.
Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops increased 1.7 percent from July and were 13.2 percent higher than they were in August 2012, according to the National Association of Realtors. Statewide closed sales of existing single-family homes totaled 20,933 in August, up 12.5 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations. Statewide sales of condominiums totaled 9,491, up 6.3 percent from August 2012.The national median existing-home price for all housing types was $212,100 in August, a 14.7 percent increase from august 2013, according to NAR. The statewide median sales price for single-family existing homes last month was $175,000, up 18.6 percent from the previous year, while that of townhouse-condo properties was $130,000, up 25.2 percent over the previous year.
Miami properties that are priced right continue to sell very rapidly and to yield a very high percentage of asking price. In August, the median days on the market for single-family homes and condominiums were 35 and 46 respectively, reflecting sales at a very rapid pace. The average percent of original list price received was 96.2 percent for single-family homes and 97.2 percent for condominiums.Active listings at the end of August increased 3.1 percent, from 12,445 to 13,763, compared to August 2012. Despite an increase in housing inventory, more new listings are needed to satisfy demand for Miami properties. Inventory of single-family homes increased 3.1 percent to 5,220 active listings, while that of condominiums increased 15.7 percent to 8,543 active listings. At the current sales pace, there is 4.9 months of supply of single-family homes and 6.0 months of supply of condominiums in Miami-Dade, representing a decrease of 12.7 percent and an increase of 7.6 percent respectively compared to year-ago levels.Total housing inventory nationally increased 0.4 percent at the end of August but remains 6.3 percent below year-ago levels, representing a 5.0-month supply.The median sales price of single-family home and condominium foreclosures in Miami-Dade increased 19.2 percent to $155,000 and 24.7 percent to $112,250 respectively.

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Miami Home Sales, Prices Continue to Surge

Posted by fidest press agency su venerdì, 23 agosto 2013

Miami, FL – In July, number of sales and prices of Miami properties continued to surge amid tight supply, generating rapid sales and offers close to asking price, according to the 29,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system.Single-family home sales again surged in July, up 27.3 percent from 964 a year earlier to 1,227 this July. This is the highest monthly number of sales for single-family homes in Miami-Dade since the height of the boom in 2005. Condominium sales increased 13.4 percent, up from 1,356 in July 2012 compared to 1,538 last month. Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops increased 6.5 percent from June and were 17.2 percent higher than they were in July 2012, according to the National Association of Realtors. Statewide closed sales of existing single-family homes totaled 20,632 in July, up 17.5 percent compared to the year-ago figure, according to data from Florida Realtors Industry Data and Analysis department in partnership with local Realtor boards/associations.July’s figures mark 20 consecutive months of appreciation for both single-family homes and condominiums in Miami. The median sales price of single-family homes spiked 25.7 percent to $230,000 year-over-year and remained the same compared to the previous month. The median sales price of condominiums, which has significantly increased each of the last 25 months, jumped 33.3 percent to $180,500 compared to a year earlier but declined 2.7 percent compared to the previous month.Compared to July 2012, the average sales price for single-family homes in Miami-Dade County increased 24.9 percent to $406,532, while the average sales price for condominiums increased 20.9 percent to $323,338.The national median existing-home price for all housing types was $213,500 in July, a 13.7 percent increase from July 2013, according to NAR. The statewide median sales price for single-family existing homes last month was $179,500, up 20 percent from the previous year, while that of townhouse-condo properties was $129,000, up 22.9 percent over the previous year.Miami properties that are priced right are selling very quickly and yielding very high percentage of asking price. In July, the median days on the market for single-family homes and condominiums were 35 and 45 respectively, reflecting sales at a very rapid pace. The average percent of original list price received was 96.1 percent for single-family homes and 97.1 percent for condominiums.Active listings at the end of July increased 0.8 percent, from 12,547 to 13,583, compared to July 2012. Despite the slight increase in inventory, current active inventory remains insufficient to satisfy intense demand for Miami properties. Inventory of single-family homes increased 0.6 percent to 5,125 active listings, while that of condominiums increased 13.5 percent to 8,458 active listings. At the current sales pace, there is 4.9 months of supply of single-family homes and 6.0 months of supply of condominiums in Miami-Dade, representing a decrease of 14.2 percent and an increase of 5.6 percent respectively compared to year-ago levels.
Total housing inventory nationally increased 5.6 percent at the end of July but remains 5.0 percent below year-ago levels, representing a 5.1-month supply. In July, only 35.4 percent of all closed residential sales in Miami-Dade County were distressed, including REOs (bank-owned properties) and short sales, compared to 47.3 percent in June 2012. Nationally, distressed homes again accounted for 15 percent of July sales.The median sales price of single-family home and condominium foreclosures in Miami-Dade increased 9.3 percent to $147,000 and 27.8 percent to $115,000 respectively.In Miami-Dade County, 60 percent of total closed sales in July were all-cash sales compared to 63.5 percent in July 2012. All-cash sales accounted for 43.3 percent of single-family home and 73.6 percent of condominium closings, compared to a year ago when cash sales were 44 percent and 77.4 percent of closed sales respectively. Since 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 31 percent of transactions in July, down from 33 percent the previous month and 29 percent in July 2012.

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Miami Single-Family Home Sales, Prices Surge in JuneMiami, FL –

Posted by fidest press agency su martedì, 23 luglio 2013

English: Burger King headquarters in unincorpo...

English: Burger King headquarters in unincorporated area Miami-Dade County. Español: La sede del Burger King en el Condado de Miami-Dade (Photo credit: Wikipedia)

Increased demand for single-family homes in Miami-Dade County continued in June amid very tight supply that is fueling double-digit price appreciation, according to the 29,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system.Single-family home sales surged 25 percent, up from 935 in June 2012 to 1,170 this June. Condominium sales increased 5.5 percent, up from 1,421 in June 2012 compared to 1,499 last month. June’s real estate market performance marks 19 consecutive months of appreciation for both single-family homes and condominiums. The median sales price of single-family homes increased 21.1 percent to $230,000 year-over-year and 3.6 percent compared to the previous month. The median sales price of condominiums, which has significantly increased each month over the last two years, rose 15.9 percent to $185,500 compared to a year earlier and 3.1 percent compared to the previous month.Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops decreased 1.2 percent from May but were 15.2 percent higher than they were in June 2012, according to the National Association of Realtors.Compared to last year’s figures, the average sales price for single-family homes in Miami-Dade County in June increased 27.1 percent to $509,515, while the average sales price for condominiums increased 9.9 percent to $351,608.The national median existing-home price for all housing types was $214,000 in June, a 13.5 percent increase from June 2012, according to the National Association of Realtors (NAR).Active listings at the end of June increased 5.1 percent, from 12,544 to 13,179, compared to June 2012, when the market was already experiencing a housing shortage. Despite the slight increase due to more new listings coming on the market, current active inventory remains insufficient to satisfy intense demand for Miami properties. Inventory of single-family homes decreased 2.8 percent to 5,006 active listings, while that of condominiums increased 10.5 percent to 8,173 active listings. At the current sales pace, there is 4.9 months of supply of single-family homes and 5.8 months of supply of condominiums in Miami-Dade, representing a decrease of 15.6 percent and an increase of 2.8 percent respectively compared to year-ago levels.Total housing inventory nationally increased 1.9 percent at the end of June but remains 10.1 percent below year-ago levels, representing a 5.2-month supply.Sales of distressed properties continue to sharply decline in Miami-Dade County, as prices for both REOs and short sales also rose significantly. In June, only 36.7 percent of all closed residential sales in Miami-Dade County were distressed, including REOs (bank-owned properties) and short sales, compared to 44.4 percent in June 2012. Nationally, distressed homes accounted for 15 percent of June sales.The median sales price of single-family home and condominium foreclosures in Miami-Dade increased 9.7 percent to $141,500 and 29 percent to $116,100 respectively.In Miami-Dade County, 60 percent of total closed sales in June were all-cash sales compared to 65 percent in June 2012. All-cash sales accounted for 42.2 percent of single-family home and 73.8 percent of condominium closings, compared to a year ago when cash sales were 46.1 percent and 77.4 percent of closed sales respectively. Since 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 31 percent of transactions in June, down from 33 percent the previous month and 29 percent in June 2012.

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Condominium Sales Surge in January

Posted by fidest press agency su giovedì, 24 febbraio 2011

Miami, Fl – Sales of existing condominiums in the Miami Metropolitan Statistical Area (MSA) increased 134 percent, from 540 to 1,262, compared to January 2010 and 233 percent compared to January 2009, according to the 25,000-member MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).  Sales of existing single-family homes rose 55 percent in January, from 436 to 676, compared to January 2010 and 66 percent compared to January 2009Statewide sales increased 36 percent to 6,681 for condominiums and 14 percent for single-family homes to 12,151.   Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 2.7 percent from December but were 2.3 percent above January 2010, according to the National Association of Realtors (NAR). Median and Average Sales PriceShort sales and foreclosures continue to have an impact on median and average sales prices for both single-family homes and condominiums especially in some areas of the county. The median sales price of single-family homes in January decreased 18 percent to $150,800 from a year earlier.  The median sales price of condominiums dropped 36 percent to $91,200.Statewide median sales prices decreased 18 percent to $79,400 for condominiums and 7 percent to $122,200 for single-family homes.  The national median existing-home price for all housing types was $158,800 in January, a 3.7 percent drop from January 2010. The average sales price for total single-family homes in Miami-Dade County decreased 13 percent, from $281,299 in January 2010 to $244,619 in January 2011.  The average sales prices for condominiums dropped 22.9 percent, from $ 220,515 to $169,959.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 60 international organizations worldwide.  MIAMI’s official website iswww.miamire.com.

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