Miami FL Real Estate Sales Statistics - January 2010

Home sales surged in the fourth quarter of 2009 with many areas seeing double digit gains according to the National Association of Realtors. Total existing-home sales (single-family and condo) jumped 13.9 percent above the third quarter and 27.2 percent above the fourth quarter of 2008. Distressed property sales accounted for 32 percent of the fourth quarter transactions, down from 37 percent from 2008.

Lawrence Yun , NAR chief economist, said the first-time home buyer tax credit, combined with record low interest rates, played a dominant role in fourth quarter sales. Yun went on to say, "With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices."

Let's take a look at the Miami real estate sales statistics for January 2010 compared to January 2009 to see how the market is looking in Miami FL:

Miami FL Real Estate Sales Statistics - Janaury 2010

Single Family Homes Sales in Miami

The Miami market is representative of the South Florida market as a whole when comparing January 2010 to January 2009. 

The number of single family homes sold in 2010 decreased by 8.8 percent compared to 2009. The number of new homes on the market decreased by 25.2 percent. The average sales price increased by 19 percent to $252,004, while the year-to-date average sales price increased 19 percent to $252,004.

Condo/Coop/Townhouse/Villa Sales in Miami

January 2010 market statistics for condo/townhouses etc. in Miami showed an increase in sales with sold listings up by 19.2 percent compared to 2009. New listings decreased by 18 percent. The average sales price decreased by 10.4 percent to $161,150 and the year-to-date sales price dropped 10.4 percent to $161,150.

If you want to learn more about MIami FL real estate, please contact us at 888-SFL-TEAM or visit HomeInSouthFlorida.com. 

To begin searching for Miami FL real estate and homes for sale, please use our complimentary MLS search.  

Statistics provided by the Realtor Association of Miami-Dade County and are deemed reliable, but not guaranteed.