Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 321

Posts Tagged ‘National Association of Realtors’

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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Supply of Inventory Declines 16% in 2Q for Miami Homes

Posted by fidest press agency su domenica, 11 agosto 2013

Miami, FL – The Miami real estate market continues to strengthen as a result of record demand, fueled by both domestic and international buyers and investors, as increased supply remains insufficient to satisfy demand, according to the 29,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems.Inventory Levels in Lower Price Points Continue to Decline
Second quarter active listings in Miami-Dade County totaled 13,151. At the current sales pace, this reflects 4.9 months of inventory for single-family homes and 5.8 for condominiums. Months supply of inventory declined 15.9 percent for single-family homes and increased 2.6 percent for condominiums compared to the second quarter of 2012.
In the second quarter, inventory of single-family homes decreased 3.1 percent with the greatest percentage decreases occurring for properties listed under $200,000.In Miami-Dade, condominium inventory increased 2.6 percent in the second quarter. For condos only inventory listed below $200,000 decreased, with properties listed below $50,000 declining a significant 63.5 percent and listings between $50,000 and $100,000 decreasing 37.6 percent.In the second quarter, the median sales price for condominiums in Miami-Dade County was $180,000, an increase of 18.4 percent year-over-year and 11 percent compared to the previous quarter. The median sales price for single-family homes rose 21 percent to $205,650 in the second quarter compared to the second quarter of 2012, and 9.4 percent compared to the first quarter of 2013. Year-over-year, the average sales prices for single-family homes and condominiums increased 14.2 percent to $446,289 and 14.9 percent to $352,246, respectively.Nationally, the median sales price of existing single-family homes was $203,500 in the second quarter, up 12.2 percent from the second quarter of 2012, according to the National Association of Realtors. The national median sales price for condominiums was $199,700, a 12.2 percent increase over the previous year. The statewide median sales price for single-family existing homes in the second quarter was $170,000, up 14.1 percent from the same quarter a year ago. The median sales price for condominiums in Florida was up 16.7 percent compared to the same quarter last year at $129,000.Following two consecutive record-breaking years, the Miami real estate market appears to be headed towards another record year. Miami-Dade residential sales – including existing single-family homes and condominiums – spiked 13.6 percent in the second quarter, from 7,228 to 8,214, compared to a year earlier and 27.2 percent compared to the previous quarter. In the second quarter, Miami sales of existing single-family homes increased 19.5 percent compared to a year earlier. The sales of existing condominiums increased 8.9 percent compared to the second quarter of 2012. Statewide closed sales of existing single-family homes totaled 63,173 in the second quarter, up 14.7 percent compared to the year-ago figure. Closed sales of condominiums totaled 31,829, up 7.9 percent compared to 2012.Nationally, total existing-home sales, including single-family and condos, rose 2.4 percent to a seasonally adjusted annual rate of 5.06 million in the second quarter from 4.94 million in the first quarter, but were 12.3 percent above the 4.51 million pace during the second quarter of 2012.In the second quarter, 62.6 percent of all closed sales were all cash compared to 65 percent a year ago. All cash sales were 44.7 percent of single-family home closings and 75.8 percent of all condominium sales. Since nearly 90 percent of foreign buyers pay cash, this reflects Miami’s position as a top market for foreign buyers.

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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.

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Broward County Reports Strong Sales Activity in September

Posted by fidest press agency su venerdì, 21 ottobre 2011

Small Single-family home

Image via Wikipedia

Miami, FL – In Broward County, single-family home sales increased 11 percent, from 974 in September 2010 to 1,079 last month, according to the Broward Council of the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. Condominium sales increased six percent from 1,214 to 1,281.
Statewide sales increased 10 percent to 15,036 for single-family homes and 10 percent to 6,666 for condominiums compared to September 2010. Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops declined three percent from the previous month and but were 11.3 percent above September 2010, according to the National Association of Realtors (NAR).“The Broward County real estate market continues to perform in a healthy and balanced manner, as local home prices stabilize or rise in many areas and neighborhoods,” said Terri Bersach, 2011 president of the Broward County Board of Governors of the MIAMI Association of REALTORS. “Inventory is declining, as housing demand exceeds available supply. International buyers, who mostly pay all cash, are playing a major role in market strengthening as evidenced by the high number of cash condominium sales.”
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating over 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 is http://www.miamire.com.

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Inventory Continues Sharp Decline

Posted by fidest press agency su venerdì, 21 ottobre 2011

Walkway leading to the Otto G. Richter Library...

Image via Wikipedia

The inventory of residential listings in Miami-Dade County has dropped 38 percent, from 24,888 to 15,264 active listings, in the last year. Compared to the previous month, the total inventory of homes dropped one percent from 15,405. Since August 2008, existing housing inventory has decreased more than 65 percent, down from 43,100. Total housing inventory nationally fell two percent to 3.48 million at the end of September compared to the previous month.
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 is http://www.miamire.com.

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Broward County Pending Sales Trend Upwards

Posted by fidest press agency su sabato, 1 ottobre 2011

St. Paul Home for Sale

Image by Maggie T via Flickr

Miami, FL – Total August cumulative pending home sales – including single-family homes and condominiums – in Broward County were 0.8 percent above what they were a year earlier, up from 7,845 to 8,124, and were down three percent month-over-month from 8,124, according to the Broward Council of the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. August Contract Activity The total number of listings – including single-family homes and condominiums – that pended during the month of August in Broward County increased 13 percent, up from 2,749 to 3,114, compared to a year earlier. Compared to the previous month, pended sales increased 5 percent. Single-family home and condominium sales that pended during the month increased 24 and 5 percent respectively. Cumulative pending condominium sales in August in Broward were 1.3 percent higher than they were a year earlier, up from 4,313 to 4,408, but were down 2.3 percent compared to the previous month. Cumulative pending single-family home sales dropped 0.3 percent, down from 3,406, compared to August 2010 and 4 percent compared to the previous month. Nationally, the Pending Home Sales Index, a forward-looking indicator based on contract signings, decreased 1.2 percent to 88.6 in August from 89.7 in July, according to the National Association of Realtors. The index is 7.7 percent higher than the 82.3 index reported in August 2010. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Increased pending sales are an indication of increased future sales.
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 is http://www.miamire.com.

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