Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 344

Posts Tagged ‘quarters’

Miami Real Estate Market Continues Strong Performance in 3Q

Posted by fidest press agency su lunedì, 17 novembre 2014

Miami-skyline-for-wikipediaThe performance of the Miami real estate market remains consistent with record activity in 2013 due to strong demand despite increased existing and new construction supply, according to the 34,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems.Median and Average Sales Prices Continue to Rise. In the third quarter, the median sales price for homes in Miami-Dade County was $250,000, an increase of 8.7 percent compared to last year. The median sale price for condominiums rose 3.5 percent to $189,900 in the third quarter compared to a year earlier. Third quarter price increases mark 11 consecutive quarters of growth for both single-family homes and condominiums.“The Miami real estate market continues to attract the attention of both domestic and foreign buyers, fueling solid growth and creating opportunities for both buyers and sellers,” said 2014 Chairman of the Board of the MIAMI Association of REALTORS Liza Mendez. “While there is more supply available than a year ago, there is still strong demand, and the growth of supply, new listings, sales and prices is more moderate, resulting in a more balanced market.”Nationally, the median sales price of existing single-family homes was $217,300 in the third quarter, up 4.9 percent from the third quarter of 2012. The national median sales price for condominiums was $211,000, a 2.7 percent increase over the previous year.The statewide median sales price for single-family existing homes in the third quarter was $182,000, up 4.0 percent from the same quarter a year ago, according to the latest housing data released by Florida Realtor. The median sales price for condominiums in Florida was up 6.9 percent compared to the same quarter last year at $139,000.Compared to last year, the average sales prices for single-family homes and condominiums in Miami-Dade County increased 14.9 percent to $438,431 and 3.8 percent to $341,927, respectively.Sales Continue to Rise for Single-Family HomesThere were 7,632 homes and condos sold in Miami-Dade County during the third quarter of 2014, a negligible decrease of 5.0 percent compared to the third quarter of 2013, when there was record sales activity. Sales of single-family homes increased 0.2 percent to 3,552, while condominium sales decreased 9.0 percent to 4,080 compared with the same period in 2013 “In Miami, market performance continues to vary greatly depending on location, property type, price range and other factors,” said 2014 MIAMI Association of REALTORS Residential President Francisco Angulo. “While in most cases, increased supply is offering buyers more choices and less pressure, others are still experiencing significant competition and bidding wars.”Nationally, total existing-home sales, including single-family and condos, increased 5.2 percent to a seasonally adjusted annual rate of 5.12 million in the third quarter from 4.87 million in the second quarter of 2013, but were still 3.8 percent below the 5.32 million pace during the third quarter of 2013, according to the National Association of Realtors.Statewide closed sales of existing single-family homes totaled 64,633 in the third quarter, up 7.6 percent compared to the year-ago figures. Closed sales of condominiums totaled 26,506, down 4.6 percent compared to 2013.Home Inventory Moving Rapidly Despite More New ListingsThe Miami Association’s initiatives to increase inventory and focus on assisting members to get more listings has proven successful along with some additional distressed properties coming on the market. The fact that sales remain at historically strong levels while inventory is growing points to seller confidence. Sellers are listing properties for sale because they have confidence in the market.Home and condominium listings also increased in the second quarter but by narrower margins. There were 6,237 new single-family home listings during the third quarter, a growth of 5.1 percent relative to the same period last year. New condominium listings increased by only 1.0 percent from 8,282 in the third quarter of 2013 to 8,366 this year.Third quarter active listings in Miami-Dade County totaled 17,480, representing an increase of 22.5 percent. This reflects the success of the MIAMI campaign to achieve a more balanced market between buyers and sellers. At the current sales pace, current inventory represents 5.7 months of inventory for single-family homes and 8.1 for condominiums. Compared to the third quarter of 2013, months supply of inventory for single-family homes and condominiums increased 13.5 percent and 33.6 percent respectively. A balanced market between buyers and sellers offers between six and nine months supply of inventory.The median days on the market of single-family home listings during the third quarter was 45 days compared to 37 days during the same period last year, an increase of 21.6 percent. Similarly, the median days on the market for condominium listings were 57 days compared to 46 last year, an increase of 23.9 percent.

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The MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service are the sources for statistics reported by the National Association of Realtors and Florida Realtors

Posted by fidest press agency su sabato, 18 ottobre 2014

Miami-skyline-for-wikipediaMiami, FL – The Miami real estate market continued to experience rising prices in the second quarter of 2014 due to strong demand, particularly for single-family homes priced between $200,000 and $400,000, according to the 30,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems.In the second quarter, the median sales price for homes in Miami-Dade County was $245,000, an increase of 8.9 percent compared to last year. The median sales price for condominiums rose 5.6 percent to $190,000 in the second quarter compared to a year earlier. Second quarter price increases mark ten (10) consecutive quarters of growth for both single-family homes and condominiums.
“The Miami real estate market continues to reflect strength and vitality fueled by demand from both foreign and domestic buyers,” said 2014 Chairman of the Board of the MIAMI Association of REALTORS Liza Mendez. “While supply is growing and creating more balance between buyers and sellers, inventory in certain price points and market segments remains tight, particularly for single-family homes. Financing for condominiums is still difficult to obtain, a fact that is hurting sales for this property type.”Compared to last year, the average sales prices for single-family homes and condominiums increased 3.5 percent to $460,018 and 6.7 percent to $375,941, respectively.Nationally, the median sales price of existing single-family homes was $212,400 in the second quarter, up 4.4 percent from the second quarter of 2013. The national median sales price for condominiums was $211,100, a 5.9 percent increase over the previous year.The statewide median sales price for single-family existing homes in the second quarter was $180,000, up 5.3 percent from the same quarter a year ago. The median sales price for condominiums in Florida was up 10.1 percent compared to the same quarter last year at $142,000.
There were 8,139 homes and condos sold in Miami-Dade County during the second quarter of 2014, a negligible decrease of 0.9 percent compared to the second quarter of 2013, when there was record sales activity. Sales of single-family homes increased 4.9 percent to 3,650, while condominium sales decreased 5.2 percent to 8,214 compared with the same period in 201Sales of single-family homes priced between $200,000 and $400,000 surged 68 percent in the second quarter of 2014 compared to the same period in 2013. Sales of condominiums priced between $100,000 and $400,000 increased 35 percent in the second quarter.“As the Miami real estate market continues to normalize and perform in a healthy manner, there are increased opportunities for all types of buyers,” said 2014 MIAMI Association of REALTORS Residential President Francisco Angulo. “While inventory is still limited depending on the area and price range, buyers generally have more to choose from and prices remain at affordable 2003 levels.”Nationally, total existing-home sales, including single-family and condos, increased 5.8 percent to a seasonally adjusted annual rate of 4.87 million in the second quarter from 4.60 million in the first quarter, but were 4.5 percent below the 5.10 million pace during the second quarter of 2013, according to the National Association of Realtors.Statewide closed sales of existing single-family homes totaled 67,579 in the second quarter, up 7.3 percent compared to the year-ago figure, according to the latest housing data release by Florida Realtors. Closed sales of condominiums totaled 30,918, down 3.4 percent compared to 2013.
The Miami Association’s initiatives to increase inventory and focus on assisting members to get more listings has proven successful along with some additional distressed properties coming on the market. The fact that sales remain at historically strong levels while inventory is growing points to seller confidence. Sellers are listing properties for sale because they have confidence in the market.Home and condominium listings also increased in the second quarter but by narrower margins. There were 8,635 new single-family home listings during the second quarter, a growth of 4.0 percent relative to the same period last year. New condominium listings increased 3.8 percent from 6,025 in the second quarter of 2013 to 6,255 this year.
Second quarter active listings in Miami-Dade County totaled 17,089, representing an increase of 29.9 percent. This reflects the success of the MIAMI campaign to achieve a more balanced market between buyers and sellers. At the current sales pace, current inventory represents 5.5 months of inventory for single-family homes and 7.8 for condominiums. Compared to the second quarter of 2013, months supply of inventory for single-family homes and condominiums increased 13.5 percent and 33.6 percent respectively. A balanced market between buyers and sellers offers between six and nine months supply of inventory.The median duration of single-family home listings during the second quarter was 43 days compared to 40 days during the same period last year, a slight increase of 7.5 percent. Similarly, the median days on the market for condominium listings were 56 days compared to 45 last year, an increase of 24.4 percent.

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Miami Home Sales, Prices Rise in 3Q

Posted by fidest press agency su giovedì, 10 novembre 2011

Small Single-family home

Image via Wikipedia

Miami, FL – In the Miami Metropolitan Statistical Area (MSA), sales of homes – includingexisting single-family homes and condominiums – increased 51 percent, from 4,239 in the third quarter of 2010 to 6,412 in the third quarter of 2011according to the 25,000-member MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service. This rise marks 13 consecutive quarters, since the third quarter of 2008, of increasing sales.The Miami MSA again posted the highest sales increases of any major metro area for condominiums and of all single-family home markets in Florida. Miami sales of existing single-family homes increased 47 percent compared to a year earlier. The sales of existing condominiums in Miami spiked 48 percent compared to the third quarter of 2010. Statewide sales of single-family homes increased 12 percent while that of condominiums increased 13 percent. Nationally, total state existing-home sales, including single-family and condo, declined 0.1 percent compared to the second quarter of 2011 but were 17 percent below the third quarter of 2010.NAR Chief Economist Bold Prediction for Miami in 2012NAR Chief Economist Lawrence Yun yesterday predicted at MIAMI’s 17th Annual International Real Estate Congress further strengthening for the South Florida market in 2012. “My bold prediction for 2012 is that we will see double digit price increases in Miami in 2012,” said Yun. “Miami is the top destination for foreign buyers. More international sales during the downturn proves international buyers have fueled the local market recovery. There is also high demand for distressed properties on a local level.”

Short 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.

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