Special offer

Miami Condo Sales Up 46 Percent In First Quarter

By
Real Estate Broker/Owner with Brosda & Bentley Realtors™ ● (786) 363-8551

Miami condo sales were up 46 percent in the first quarter of 2010. 1,920 units sold, up from 1,311. The median sales price slid, however, by 9 percent to $136,100 from $149,000. Single-family home sales rose by 12 percent to 1,530, up from 1,372. The median sales price for homes fell 6 percent from $203,700 to $191,200.

Jade Ocean condo in Sunny Isles Beach (786) 406-1757In Florida 16,897 condos sold in the first quarter, rising 67 percent from 10,131 compared to the same period the previous year.

In Fort Lauderdale single-family home sales were up 7 percent, rising from 1,647 homes sold to 1,756. The median sales price fell from $210,200 to $196,700 or 6 percent.

Condo sales in Fort Lauderdale rose 45 percent from 1,893 to 2,739 units sold. Prices fell 15 percent, however, from $84,100 to $71,900.

This continues the trend in both Counties of dramatically increased home sales and drop of real estate inventory while prices stabilized. The data is provided by the Realtor Association of Greater Miami and the Beaches (RAMB) and the Southeast Florida Multiple Listing Service (SEFMLS).Jade Ocean condo in Sunny Isles Beach (786) 406-1757  

###

Click here for more information: Miami Real Estate 

About Brosda & Bentley Realtors®

Brosda & Bentley Realtors® is the premier Miami real estate resource for home buying, home selling, financing and property listings in Aventura, Sunny Isles Beach, Golden Beach, Bal Harbour, Surfside, Miami Beach and Downtown Miami. Whether it's a house an estate, beachfront mansion, luxurious oceanfront condo, pristine pre-construction, commercial or any other type of property, a Brosda & BentleyTM Real Estate Consultants can assist you with all your real estate needs in the Greater Miami area and the Beaches. Brosda & Bentley Realtors® is specialized in luxurious developments like Acqualina, Apogee South Beach, Continuum Towers SoBe, Fisher Island, Fontainebleau, Gansevoort SoBe, ICON South Beach, Jade Beach, Jade Ocean Sunny Isles, Ocean IV, Trump Palace, Trump Royale, Trump Hollywood, Trump Towers Miami, Turnberry Ocean Colony, Ten Museum Park, St. Regis Bal Harbour, Portofino Tower, St. Tropez Condo Sunny Isles Beach and many, many more.

On a worldwide scale Brosda & BentleyTM is a leading professional real estate services firm specializing in marketing planned unit developments, residential and commercial properties located in exclusive real estate markets throughout the globe.

Posted by

 

By Katerina Brosda 

Thank you for taking your time to read my blog post. I truly appreciate it. I am eager to bring you relevant Miami real estate information with this blog. Whether you are in the market to buy real estate in Miami or to sell real estate in the Miami area, please visit my website below and you can search the largest collection of new homes for sale directly. It works just like a regional MLS website. You can search new home communities in Southeast Florida, find agents and promotions, the advanced search lets you narrow down your specific search criteria, like penthouses for sale, distressed properties for sales, waterfront homes for sale, Golf course communities for sale and all can be organized by zip codes or cities. All listings have a large map with interactive community details and best of all, it is completely integrateable with your Smartphone. So if you are looking for Miami condos for sale, Golden Beach houses for sale, Sunny Isles Beach condos for sale, Bal Harbour condos for sale or homes for sale, Miami Beach condos for sale or Miami Beach homes for sale, Brosda and Bentley Realtors knows the very secrets on how to sell high and buy low. 

 http://www.brosdaandbentley.com/

 

Comments (5)

stan albert
Remax Premier Inc. Vaughan Ontario - Vaughan, ON

Katerina. hi from Canada. Interesting to note that sales are up in your area.We thought that the market was really depressed. but glad to see you are on upswing. Interested to stay in touch re your International Marketing Company.

May 13, 2010 08:12 AM
Katerina Brosda
Brosda & Bentley Realtors™ ● (786) 363-8551 - Sunny Isles Beach, FL
Miami Real Estate Broker

Hi Stan - Many Canadians bought real estate here during their last winter stay and we also had first-time visitors coming here with the intend to purchase!

May 13, 2010 08:42 AM
Katerina Brosda
Brosda & Bentley Realtors™ ● (786) 363-8551 - Sunny Isles Beach, FL
Miami Real Estate Broker

Great article about the current Miami real estate market:

http://www.facebook.com/SunnyIslesBeachRealEstate

Fueled by overseas buyers, South Florida condo sales soar

May 13, 2010 09:39 AM
Jerri McCombs, Broker/Owner
Dogwood Real Estate Services - Hendersonville, NC
Hendersonville Living

I am so happy to hear that your sales are up. I know you were hit hard the last two years, so it is a good sign for you. I hope that the trend continues for you.

Jun 22, 2010 08:19 AM
Katerina Brosda
Brosda & Bentley Realtors™ ● (786) 363-8551 - Sunny Isles Beach, FL
Miami Real Estate Broker

Hi Jerri

Thanks for your comment, but also read the following information I am providing, as there has been a lot of misinformation in the media.

Sales of existing homes in Florida rose 27 percent in April 2010, which means that sales activity has increased in the year-to-year comparison for 20 months, according to the latest housing data released by Florida Realtors®. Another positive sign: Last month's statewide existing-home median price of $140,100 was 1 percent higher than the statewide median price in April 2009.

Existing home sales rose 27 percent last month with a total of 16,781 homes sold statewide compared to 13,244 homes sold in April 2009, according to Florida Realtors. Statewide existing home sales last month increased nearly 3 percent over statewide sales activity in March. Meanwhile, April's statewide existing-home median price was 2.3 percent higher than March's statewide existing-home median price of $137,000. It marks the second month in a row that the statewide existing-home median price has increased over the previous month's median.

"Buyers responding to the federal homebuyer tax credit before it expired helped to boost home sales across Florida," said 2010 Florida Realtors President Wendell Davis, a broker with Watson Realty Corp. in Jacksonville. "And buying conditions remain favorable, with a variety of housing options available in local markets at attractive and affordable prices. Plus, current mortgage interest rates are at historically low levels, which gives buyers more ‘bang' for their buck."

Florida Realtors also reported a 55 percent increase in statewide sales of existing condos in April 2010 compared to the previous year's sales figure; statewide existing condo sales last month rose 2 percent over the total units sold in March. Though April's statewide existing-condo median price of $103,600 was down 3 percent compared to the year-ago figure, it was 6.9 percent higher than March's statewide existing-condo median price.

Seventeen of Florida's metropolitan statistical areas (MSAs) reported increased existing home sales in April while all but one MSA had higher condo sales. A majority of the state's MSAs have reported increased sales for 22 consecutive months.

Florida's median sales price for existing homes last month was $140,100; a year ago, it was $138,100 for a 1 percent gain. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in March 2010 was $170,700, up 0.6 percent from a year earlier, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $301,790 in March; in Massachusetts, it was $280,000; in Maryland, it was $235,785; and in New York, it was $209,900.

According to NAR's latest outlook, two trends are influencing a broader stabilization of home prices in housing markets across the nation: months of increased sales activity and lower levels of inventory. "Foreclosures have been feeding into the inventory pipeline at a fairly steady pace and are being absorbed manageably," said NAR Chief Economist Lawrence Yun. "With home values stabilizing, a revival in homebuying confidence will likely help the housing market get back on its feet even as the tax credit impact disappears."

In Florida's year-to-year comparison for condos, 7,291 units sold statewide last month compared to 4,703 units in April 2009 for an increase of 55 percent. The statewide existing condo median sales price last month was $103,600; in April 2009 it was $107,200 for a 3 percent decrease. The national median existing condo price was $170,600 in March, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 5.10 percent in April, up from the average rate of 4.81 percent during the same month a year earlier, according to Freddie Mac. Florida Realtors' sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state's smaller markets, the Panama City MSA reported a total of 128 homes sold in April compared to 108 homes a year earlier for a 19 percent increase. The market's existing home median sales price last month was $160,000; a year earlier it was $156,800 for an increase of 2 percent. A total of 65 condos sold in the MSA in April compared to 53 units sold the same month a year earlier for an increase of 23 percent. The existing condo median price last month was $187,100; a year earlier, it was $172,900 for an 8 percent gain.

All the best :) and Happy Selling.

Jun 22, 2010 10:25 AM