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Posts Tagged ‘single-family’

SMS Assist Attending IMN’s 6th Annual Single Family Rental Investment Forum

Posted by fidest press agency su domenica, 3 dicembre 2017

SMS Assist will attend IMN’s Single Family Rental (SFR) Investment Forum West, taking place at the Phoenician Resort in Scottsdale, Arizona, beginning December 4. Now in its sixth year, IMN’s SFR Forum welcomes more than 1,000 attendees from leading U.S. real estate investment trusts (REITs), funds, aggregators, investors and service providers sharing new strategies, solutions and technology innovations for the fast-growing SFR market. As a repeat attendee, SMS Assist continues its longstanding involvement with IMN’s conferences and builds on its industry leadership and commitment to providing resources and insights to help develop the SFR market.“Single-family rental owners and investors need new tools and strategies that can reduce the costs of maintenance, turns and rehabs while improving the resident experience, and we’re proud to offer proven solutions for our clients,” said Mike Travalini, president of SMS Assist’s Residential division. “More than one in nine homes in the U.S. are listed as single-family rentals, and with almost 40 percent of adults renting instead of owning, this number is growing fast.”Attendees can visit the SMS Assist booth anytime during the conference to learn more about how the company’s proprietary technology, Affiliate advantage and maintenance and turn solutions are disrupting the SFR market and bringing savings and efficiency to a growing list of clients across industries.

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Non-Distressed Miami Single-Family Home Sales Rise in May

Posted by fidest press agency su giovedì, 23 giugno 2016

miami1MIAMI — Non-distressed Miami single-family home sales increased for the fifth consecutive month and all existing residential properties posted price gains in May, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.The median sales price for existing single-family homes rose 4.6 percent year-over-year in May 2016, from $282,000 to $295,000. Single-family home prices have increased for 54 consecutive months. The median sales price for existing condominiums grew 2.5 percent to $214,250 from $209,000. Miami existing condo prices have risen in 58 of the last 60 months, a stretch encompassing five years.
“Miami real estate remains a bargain worldwide,” said Mark Sadek, a Coral Springs Realtor and the 2016 MIAMI chairman of the board. “Miami-Dade County residential properties are at 2004 price levels. Domestic and international home buyers are taking advantage of Miami’s prices compared to other world-class global cities.”A 120-square meter condo in Miami-Fort Lauderdale-Miami Beach cost $149,900 on average, according to the National Association of REALTORS® (NAR). Prices for the same condo in London ($960,840), Hong Kong ($776,280), and New York ($1.6 million) are at least five times higher.Historic-low mortgage interest rates are attracting home buyers. According to Freddie Mac, the average commitment rate for a 30-year, conventional, fixed-rate mortgage was 3.60 percent in May, which is the lowest since May 2013 (3.54 percent).Total existing Miami-Dade County residential sales — which posted a record year in 2013 and near record years in 2014 and 2015 — decreased 10.4 percent year-over-year from 2,719 to 2,435.Miami-Dade County single-family home transactions decreased 7.2 percent in May, from 1,272 to 1,180. Existing condominium sales — which declined 13.3 percent, from 1,447 to 1,255 — are competing with a robust new construction market, which continues to add inventory.A 32.7 percent year-over-year drop in total distressed sales, from 683 transactions in May 2015 to 460 last month, contributed to the lower sales activity. Only 18.9 percent of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, compared to 25.1 percent in May 2015. In 2009, distressed sales comprised nearly 70 percent of Miami sales.Short sales and REOs accounted for 3.2 and 15.7 percent, respectively, of total Miami sales in May 2016. Short sale transactions dropped 54.5 percent year-over-year while REOs fell 25.4 percent.Sales and prices for traditional or non-distressed single-family homes are on the rise. Non-distressed Miami single-family homes registered a sales growth of 1.5 percent, increasing from 928 to 942. It’s the fifth consecutive month traditional single-family homes sales have grown. Traditional Miami single-family homes gained 0.2 percent of price growth in May, growing from $320,000 to $320,750.
Nationally, distressed sales comprised 6 percent of all sales in May, down from 10 percent a year ago, according to the National Association of REALTORS® (NAR).Total Miami residential properties combined for $979.7 million in total sales volume in May 2016, about 10.2 percent lower than the $1.08 billion sold during the same month last year. The aforementioned sales volume does not include the strong new construction condo sales figures.
Mid-priced Miami homes are seeing increased sales. Single-family homes priced between $200,000 and $600,000 saw a 5.9 percent year-over-year increase in May, growing from 716 to 756. The sector represented 64.1 percent of total Miami single-family home sales in May 2016.Existing condos priced between $150,000 and $300,000 saw a 12.0 percent-rise in sales in May, increasing from 482 transactions to 540. This sector represented 43.0 percent of total existing Miami condo home sales in May 2016.The median number of days between listing and contract dates for Miami single-family home sales fell 16.9 percent year-over-year to 49 days. The median number of days between the listing date and closing date for single-family properties dropped 13.3 percent to 98 days.For condos, the median time to contract decreased 13.5 percent year-over-year to 64 days. The median number of days between the listing date and closing date decreased 9.3 percent to 107 days. The median percent of original list price received for existing condominiums was 94.2 percent, an increase of 0.1 percent.
In addition to competing sales from new construction units, the lack of access to mortgage loans is also impacting existing condominiums. Of the 9,307 condominium buildings in Miami-Dade and Broward Counties, only 13 are approved for Federal Housing Administration loans, down from 29 last year, according to statistics from the Florida Department of Business and Professional Regulation and FHA.
Nationally, existing-home sales sprang to their highest pace in almost a decade. Total existing-home sales grew to a seasonally adjusted annual rate of 5.53 million in May 2016, which is 4.5 percent higher than May 2015 (5.29 million). It’s the highest annual pace since February 2007 (5.79 million).Statewide, closed sales of existing single-family homes totaled 25,518 last month, up 4.5 percent over the May 2015 figure, according to Florida Realtors. Florida’s condominium sales totaled 10,455 last month, up slightly (0.1 percent) compared to May 2015.The national median existing-home price for all housing types in May was $239,700, up 4.7 percent from May 2015 ($228,900). May’s price increase marks the 51st consecutive month of year-over-year gains.The statewide median sales price for single-family existing homes last month was $221,050, up 10.5 percent from the previous year, according to Florida Realtors. The statewide median price for townhouse-condo properties in May was $165,000, up 4.4 percent over the year-ago figure. In May, statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year for the 54th month in a row.Miami cash transactions comprised 47.1 percent of May total closed sales, compared to 49.5 percent last year. Miami cash transactions are more than double the national average of 22 percent. Miami’s high percentage of cash sales reflects South Florida’s ability to attract a diverse number of international home buyers, who tend to purchase properties in all cash.Condominiums comprise a large portion of Miami’s cash purchases as 62 percent of condo closings were made in cash in May compared to 31.3 percent of single-family home sales.
Inventory of single-family homes increased 8.1 percent in May from 5,827 active listings last year to 6,298 last month. Condominium inventory increased 16.8 percent to 14,107 from 12,081 listings during the same period in 2015.There is a 5.6-month supply of Miami single-family homes, an increase of 12 percent from May 2015, which indicates a sellers’ market. There is an 11.2-month supply of condominium inventory, a year-over-year increase of 24.4 percent, which indicates a buyers’ market. A balanced market between buyers and sellers offers between six and nine months supply of inventory.Total active listings at the end of May increased 13.9 percent year-over-year, from 17,908 to 20,405. Active listings remain about 60 percent below 2008 levels when sales bottomed.New listings of Miami single-family homes increased 7.6 percent from 1,730 in May of last year to 1,861 last month. New listings of condominiums increased 9.3 percent, growing from 2,173 to 2,376.Nationally, total housing inventory at the end of May rose 1.4 percent to 2.15 million existing homes available for sale, but is still 5.7 percent lower than a year ago (2.28 million). Unsold inventory is at a 4.7-month supply at the current sales pace, which is unchanged from April.
Most Miami preconstruction condo developers require a 50-percent cash deposit on new units. The deposit is not only one of the highest in the United States but is significantly higher than the 20 percent required during the last real estate cycle. The large all-cash deposits are a sign home buyers are committed to the Miami market.
Developers are also being cautious not to overbuild. About 85 percent of condos under construction in downtown Miami are sold, according to Integra Realty Resources and the Miami Downtown Development Authority. Downtown Miami has about 7,200 units under construction, a considerably smaller number than the 18,500 the area had under construction in 2006.Strong sales in the Miami preconstruction condominium market east of Interstate 95 continue to reflect significant demand for new properties, according to a June 20 report from preconstruction condo projects website Cranespotters.com and MIAMI.
Forty-seven condo towers with 4,358 units have been completed in Miami-Dade County east of I-95 since the start of 2011. There are 80 towers with 12,731 units under construction in Miami-Dade County east of I-95. About 58 towers with 8,334 units are planned, but have not begun development. About 79 towers with 11,373 units are proposed in Miami-Dade County east of I-95.To access May 2016 Miami-Dade Statistical Reports, visit http://www.SFMarketIntel.com

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Miami Mid-Market Properties Post Double-Digit Sales Growth in 1Q

Posted by fidest press agency su mercoledì, 11 Maggio 2016

miamiMIAMI — Mid-market single-family homes and condominiums registered double-digit sales growth as prices for all Miami existing properties rose for the 17th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the local Multiple Listing Service systems.The $200,000 to $600,000 single-family home sector posted a 10.6 percent year-over-year sales increase in the first quarter of 2016. The sector, which comprised 59.5 percent of all Miami single-family closed sales last quarter, had 1,765 sales in 1Q 2016 versus 1,596 in 1Q 2015. In existing condos, the $150,000 to $300,000 price range registered a 12.8 percent sales increase, growing from 1,148 to 1,295. The sector comprised 38.9 percent of all existing condo closed sales last quarter.“Miami real estate priced in the mid-market continues to be a major attraction for home buyers from all over the world,” said Mark Sadek, the 2016 MIAMI Chairman of the Board. “Today’s historic-low mortgage rates and South Florida’s diversified and growing job market are encouraging more consumers to purchase property in one of America’s most dynamic cities.” According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.74 percent for 1Q 2016, slightly up from the 3.72 percent average recorded during the same quarter a year earlier.Total existing Miami-Dade County residential sales — which posted a record year in 2013 and near record years in 2014 and 2015 — declined 8.9 percent year-over-year in the first quarter of 2016, from 6,908 sales to 6,294.
Single-family home sales — which have posted three consecutive years of record sales — declined 6.8 percent in 1Q 2016, from 3,184 to 2,968. Existing condo sales fell 10.7 percent, from 3,724 to 3,326. Existing condos are competing with a robust new construction market, which continues to add inventory.The median price for single-family homes in Miami-Dade County increased to $275,000 in the first quarter, a 10 percent jump from $250,000 in the same period last year. The median price for existing condominiums increased 4.3 percent year-over-year from $198,000 to $206,450.All Miami-Dade County residential properties have now seen 17 consecutive quarters of price growth, a span stretching more than four years. Despite the steadfast growth, Miami prices remain at 2004 levels.Miami’s residential properties remain more affordable than other global cities, according to the National Association of Realtors 2015 Profile of Home Buying Activity of International Clients. NAR analyzed the cost of a 120-square meter condo in a number of foreign cities based on prices reported in the Global Property Guide. A 120-square meter condo in Miami-Fort Lauderdale-Miami Beach cost $149,900 on average. The price for the same condo in London ($960,840), Hong Kong ($776,280), and New York ($1.6 million) were at least five times higher.Nationally, the median existing single-family home price in the first quarter was $217,600, up 6.3 percent from the first quarter of 2015 ($204,700), according to NAR. The national median existing-condo price was $204,700 in the first quarter, up 5.8 percent from the first quarter of 2015 ($193,500).Statewide, the median sales price for single-family existing homes in 1Q 2016 was $203,500, up 11.8 percent from the same time a year ago, according to Florida Realtors. The Florida median price for condos during the quarter was $153,000, up 5.5 percent over the year-ago figure.Nationally, total existing-home sales for single-family and condominiums rose 1.7 percent to a seasonally adjusted annual rate of 5.29 million in the first quarter from 5.20 million in the fourth quarter of 2015, and are 4.8 percent higher than the 5.05 million pace during the first quarter of 2015, according to the National Association of REALTORS®.Statewide, closed sales of single-family homes statewide totaled 57,913 in 1Q 2016, slightly up (0.3 percent) over the 1Q 2015 figure, according to Florida Realtors. Florida’s townhome-condo market totaled 24,534 during 1Q 2016, down 6.1 percent compared to 1Q 2015.
Seller confidence in Miami’s housing market continued to expand in the first quarter. Miami real estate had 20,446 active listings in the first quarter, a 13.3 percent increase from the 18,046 listings at the same time last year.The inventory for single-family homes increased 8.2 percent, from 6,004 to 6,494. Miami existing condo inventory grew 15.9 percent, from 12,042 to 13,952.The Miami single-family home sector is in a seller’s market, while existing condos are in a buyer’s market. At the current sales pace, the number of active listings represents 5.7 months of inventory for single-family homes and 10.8 for condominiums. A balanced market between buyers and sellers offers between six and nine months of supply inventory.
The median time to contract for single-family home listings was 59 days, a 15.7 percent decrease from 70 days in 1Q 2015. The median time to contract for existing condos was 72 days, a 10 percent decrease from 80 days in 1Q 2015.The median number of days between the listing date and closing date also declined for all properties. The median time to sale for single-family homes decreased 7.1 percent, from 126 days to 117. The median time to sale for existing condos fell 4 percent, from 125 days to 120.Miami continues to register more than double the U.S. average of residential cash buyers. About 51 percent of Miami closed sales in the first quarter of 2016 were all cash. About 25 percent of U.S. home properties are made in cash, according to the latest NAR statistics. About 56.4 percent of all Miami housing transactions were made in cash in 1Q 2015.Statewide, cash sales represented 43 percent of all closed sales in the first quarter of 2016, down from 49.5 percent during the same period last year.About 65.3 percent of all Miami existing condo sales are made in all-cash. In the single-family sector, about 35 percent of all transactions are made in cash. The high percentage of cash buyers reflects Miami’s top position as the preeminent American real estate market for foreign buyers, who tend to purchase with all cash.

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Miami Residential Prices Continue to Climb in January

Posted by fidest press agency su giovedì, 25 febbraio 2016

miamiMiami-Dade County median sales prices continued to rise in January as existing single-family homes and condominiums sold close to list price, according to a new report by the 41,000-member MIAMI Association of REALTORS® (MIAMI) and Multiple Listing Service (MLS) system.
The median sales price for single-family existing homes rose 13.7 percent year-over-year in January 2016, from $237,500 to $270,000. Single-family home prices remain at 2004 levels despite four years of increases. The median sales price for existing condominiums increased 8.8 percent in January to $205,000 from $188,500 a year ago. Miami-Dade County existing condo prices have risen in 55 of the last 56 months, a period encompassing more than four and a half years.Total existing Miami-Dade County residential sales — which posted a record year in 2013 and near record years in 2014 and 2015 — decreased 12.1 percent from 2,043 sales in January 2015 to 1,796 last month. January 2016’s total sales are in the range of Miami sales during the past five Januarys.Miami-Dade County single-family home transactions were 14.4 percent lower year-over-year in January, from 963 to 824. Existing condominium sales declined 10.0 percent in January 2016, from 1,080 to 972.“Strong sales are important for a healthy residential real estate market, but it is not sustainable to set a new all-time sales record each year,” said Teresa King Kinney, chief executive officer for MIAMI. “Miami-Dade County’s five years of record sales have been unique in the U.S. real estate market. It is anticipated Miami will continue in a sales range consistent with a strong market.”Miami’s 824 single-family home sales in January 2016 remain consistent with historical averages. The sector registered 963 and 823, respectively, in January during the single-family record-breaking years of 2013 and 2014. Miami posted 691 single-family home sales in January 2012.Miami-Dade has continued to experience a significant year-over-year decrease in distressed sales. Increased competition from new condominium construction has also played a role in the lower total residential sales. Only 22.2 percent of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, compared to 34.9 percent in January 2015.Short sales and REOs accounted for 4.4 and 15.7 percent, respectively, of total Miami sales in January. Short sale transactions dropped 50.6 percent year-over-year while REOs fell 42.2 percent.Single-family home sales spiked 18.3 percent year-over-year in January in the $250,000 to $400,000 sector, growing from 241 to 285. This sector represented about 34.6 percent of all total single-family home sales in January 2016.Existing condos priced at $150,000 to $300,000 range saw a 25.1 percent spike in January sales, increasing from 299 to 374.
Historic-low mortgage rates should continue to attract future buyers. According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage sat at 3.87 percent in January. Interest rates have stayed below 4 percent for six consecutive months.
Miami Real Estate Selling Faster and Close to List Price.The average percent of original list price received for single-family homes was 95.5 percent in January 2016, an increase of 1.3 percent from a year earlier. The average percent of original list price received for existing condominiums was 93.3 percent, a 0.3 percent year-over-year increase.

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Miami Sets Single-Family Home Sales Record in 2015

Posted by fidest press agency su venerdì, 12 febbraio 2016

Miami-skyline-for-wikipediaMiami-Dade County single-family home sales set an all-time annual record in 2015, and sales for all existing properties posted the third-most transactions in history, according to the 41,000-member MIAMI Association of REALTORS® (MIAMI) and the local Multiple Listing Service (MLS) system.Miami-Dade finished with 29,886 total existing residential sales, including single-family and condo markets, in 2015. It is the third-highest total for annual residential transactions in Miami history. Only 2013 (30,041 sales) and 2014 (29,930 sales) had more total existing residential sales. “Miami real estate had a banner year in 2015,” said Coral Springs Realtor Mark Sadek, the 2016 MIAMI Chairman of the Board. “Miami’s strong local jobs market, population increase, historically-low mortgage interest rates and South Florida’s continued growth as a world-class global region all played key roles in the strong sales. We see many of these factors carrying over to 2016.” Miami closed sales of existing single-family homes totaled 13,936 in 2015, up 3.1 percent compared to the 2014 figure. It marked the third-consecutive record sales year for Miami single-family homes, which posted 13,521 sales in 2014 and 12,899 in 2013.
Despite an increase in competing new condo construction east of Interstate 95, Miami existing condominiums posted the fifth-best sales year in history. A total of 15,950 Miami existing condominiums sold in 2015, down 2.8 percent from the previous year, as new construction continues to take a significant share of the market.Miami existing single-family homes finished 2015 with a median sales price of $265,000, up 8.2 percent from $245,000 the previous year. The Miami median price for existing condominiums in 2015 was $200,000, an increase of 5.3 percent from $190,000 in 2014.The average percent of original list price received for single-family homes in 2015 was 95.2 percent in 2015, an increase of 0.2 percent from a year earlier. The median number of days on the market for Miami single-family homes fell 4.4 percent to 43 days in 2015 from 45 days in 2014.The median number of days on the market for condominiums sold in 2015 was 60 days, a 5.3 percent increase from 57 days in 2014. The average percent of original list price received was 93.5 percent, a 0.7 percent year-over-year decrease.
Statewide closed sales of existing single-family homes totaled 274,769 in 2015, up 12.4 percent compared to the 2014 figure, according to Florida Realtors. The statewide median sales price for single-family existing homes in 2015 was $196,000, up 10.1 percent from the previous year.Florida existing condominium market saw a total of 114,969 sales statewide in 2015, up 6.1 percent from 2014. The statewide median price for condominiums in 2015 was $150,000, up 7.1 percent over the previous year.Nationally, consumers purchased 5.26 million homes in 2015, according to the National Association of REALTORS® (NAR). That is a 6.5 percent increase over the prior year and the highest total since 2006 (6.46 million sales). The median sales price nationwide rose 6.8 percent to $222,400.Historically-low mortgages rates played a role in the increased sales in Miami, Florida and the nation. The interest rate for a 30-year fixed-rate mortgage averaged 3.85 percent for 2015, up from the previous year’s average of 4.17 percent, according to Freddie Mac.
In 2015, cash deals represented 51.8 percent of Miami’s total closed sales, which is more than double the national average. Just 24 percent of all U.S. housing sales are made in cash, according to NAR. Cash transactions represented 57.2 percent of total Miami deals in 2014. Miami’s high percentage of cash sales reflects South Florida’s ability to attract a diverse number of international home buyers, who tend to purchase properties in all cash.Condominiums comprise a large portion of Miami’s cash purchases as 65.4 percent of condo closings were made in cash in 2015 compared to 36.4 percent of single-family home sales.About 27 percent of all closed residential sales in Miami were distressed in 2015, including REO (bank-owned properties) and short sales, compared to 33.7 percent in 2014.
Short sales and REOs accounted for 5.6 and 21.4 percent, respectively, of total Miami sales in 2015. Short sale transactions dropped 40.5 percent year-over-year while REOs decreased 12.1 percent.Seller’s Market for Miami Single-Family Homes, Balanced Market for Condos
Inventory of single-family homes decreased 3.5 percent in 2015 from 6,265 active listings in 2014 to 6,045 in 2015. Condominium inventory increased 10.2 percent to 12,600 in 2015 from 11,430 listings in 2014.At the end of 2015, inventory for Miami single-family homes stood at a 5.2-month supply, a 6.8 percent decrease from 5.6 months in the previous year. Inventory for Miami existing condominiums at the end of 2015 stood at 9.5 months, a 13.2 percent increase from 8.4 months in 2014. A balanced market between buyers and sellers offers between six and nine months supply of inventory.Total active listings at the end of 2015 increased 5.4 percent year-over-year, from 17,695 to 18,645. Active listings remain about 60 percent below 2008 levels when sales bottomed.New listings of Miami single-family homes at year-end 2015 increased 0.6 percent from 24,592 in 2014 to 24,455 in 2015. New listings of condominiums increased 0.6 percent to 34,441 at year-end 2015, compared to 34,242 at year-end 2014.Nationally, total housing inventory at the end of December dropped 12.3 percent to 1.79 million existing homes available for sale, and is now 3.8 percent lower than a year ago (1.86 million). Unsold inventory is at a 3.9-month supply at the current sales pace, down from 5.1 months in November and the lowest since January 2005 (3.6 months).
Strong sales in the preconstruction condominium Miami market east of Interstate 95 continue to reflect significant demand for new properties, according to the latest New Construction Market Status Report released by the preconstruction condo projects website Cranespotters.com and MIAMI.Thirty-nine towers with 709 floors and 3,729 units have been completed in Miami-Dade County east of I-95 in the four years since 2011, according to the latest report. There are 73 towers with 1,579 floors and 10,059 units under construction in Miami east of I-95. About 65 towers with 1,534 floors and 9,134 units are planned, but have not begun development.

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Miami Luxury Single-Family Home Sales Rise in 3Q

Posted by fidest press agency su mercoledì, 2 dicembre 2015

miamiMiami-Dade County had 258 $1-million-plus single-family home sales in 3Q 2015, an increase from 245 in the same period last year. Existing luxury condominium sales — which are competing with a significant rise of supply in pre-construction condo units east of Interstate-95 — decreased 14.8 percent year-over-year in 3Q 2015, from 237 to 202.“Miami luxury home buyers can purchase a larger home at a better price compared to other world-class global cities,” said Christopher Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI. “The strength of the dollar coupled with Miami’s growth as a leading global city is leading more executives, hedge-funders and businessmen to buy luxury properties here. South Florida offers everything a luxury buyer would want: from oceanfront views to world-class art to top-tier amenities.”Miami ranked as the sixth most important city in the world to ultra-high-net-worth individuals (UHNWI), according to the prestigious 2015 Knight Frank Wealth Report. UHNWI are defined as having a net worth of at least $30 million. Miami and New York were the only North American cities to make the top-10 list of the Wealth Report, which is issued annually by London-based real estate consultancy Knight Frank. London, New York, Hong Kong, Singapore, and Shanghai rounded out the top-five.Christie’s International “Luxury Defined” 2015 report analyzed what $5 million could buy in the world’s top global cities. The report found that $5 million in Miami would buy a six-bedroom, 6,475 custom-built waterfront home. In London, $5 million would buy a two-bedroom home at 1,319 square feet. In New York, $5 million would purchase a three-bedroom home at 1,865 square feet. In Hong Kong, the same price would only be enough for a three-bedroom home at 1,567 square feet.
Total inventory for all luxury Miami residential properties increased 32.6 percent, from 2,355 in the third quarter of 2014 to 3,122 in the third quarter of 2015. The significant rise in $1 million-plus properties listed in Miami-Dade County is a sign of strong seller confidence.
Existing single-family homes priced at $1 million or above had a median sales price of about $1.57 million in the third quarter of 2015, a 4.7 percent decrease from $1.65 million in the same time period last year. Miami-Dade County luxury homes had a $444 median sale price per square foot in 3Q 2015, a 3.7 percent increase from $428 in 3Q 2014.The $1 million-plus properties were on the market for 73 days in the third quarter, an 18.9 percent decrease from 90 days in the third quarter of 2014.Luxury single-family homes continue to see an increase in new listings. In the third quarter, 734 luxury single-family homes were placed into the market. That’s a 33.9 percent increase from 548 in the third quarter of 2014.The inventory for luxury single-family homes reached 1,331 in the recently completed third quarter, a 27.5-percent rise from the 1,044 listed in the third quarter of 2014.
Existing luxury condos posted a median sales price of $1.5 million in the third quarter, the same price recorded in the 2014 third quarter. Existing Miami-Dade county luxury condominiums had a $776 median sale price per square foot in 3Q 2015, a 9.0 percent increase from $712 in 3Q 2014.Miami luxury condo sales decreased 14.8 percent year-over-year in the third quarter of 2015, from 237 to 202. The median days on the market for luxury condos was 101, a 38.4 percent increase from 73 days in the same period in 2014.Luxury condos had 23.0 percent more new listings in the recently completed third quarter, growing from 708 to 871. In the third quarter of 2015, the number of property listings for $1 million-plus condos grew to 1,791, a 36.6 percent increase from 1,311 in the second quarter of 2014.

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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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Increase in November

Posted by fidest press agency su giovedì, 23 dicembre 2010

Miami, FL – The sales of existing single-family homes in the Miami Metropolitan Statistical Area (MSA) increased 49 percent to 679 compared to November 2009 and 86 percent higher than they were in November 2008 according to the MIAMI Association of REALTORS and the Southeast Florida Multiple Listing Service (SEFMLS).  Sales of condominiums increased 98 percent to 1,039 compared to November 2009 and 237 percent compared to November 2008. The Miami real estate market experienced rising residential sales since August 2008, posting increases for 23 consecutive months.  Statewide sales increased 11 percent to 5,411 for condominiums and decreased 15 percent for single-family homes to 11,900.  Nationally, sales of existing single-family homes, townhomes, condominiums, and co-ops rose 5.6 percent from October but are 27.9 percent below November 2009, according to the National Association of Realtors (NAR). 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. In the Miami MSA, the median sales price of single-family homes in November decreased seven percent to $171,500 from a year earlier.  The median sales price of condominiums dropped 29 percent to $105,600. Statewide median sales prices decreased 16 percent to $88,200 for condominiums and five percent to $132,700 for single-family homes. Inventory Levels Continue to Drop
The inventory of residential listings in Miami-Dade County dropped 4.5 percent from 25,415 to 24,278 since December 2009, according to the SEFMLS. Compared to last month, the total inventory of homes dropped .05 percent. Nationally, total housing inventory at the end of November fell four percent from the previous month.
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating its 90th year 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 24,000 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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