Double-digit growth in sales of Miami-Dade homes and condos

Miami-Dade County home sales dipped again in March, according to a new report from the Miami Association of Realtors, amid rising prices and fewer distressed properties. So far this year, Miami.

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South Florida home sales were solid in August, and the condo market was especially hot with a double-digit gain in median price, according to the Florida Realtors.

Double-digit growth in sales of Miami-Dade homes and condos Sales of existing Miami-Dade single-family homes and condominiums in the mid-market range have grown by double digits since 2015, despite an overall decrease in residential property sales across the county, the Miami Association of Realtors reported Tuesday.

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Thus, the high ratio of cash sales in Miami – Dade, about twice the national average, coupled with the high percent of foreign buyers, further the continued indicates appeal of the local market to these buyers. Traditional arms-length sales continue to account for the greatest share of total condo and townhouse 2 percent in sales, 7 2015:Q1.

Average sales prices were also marked by double-digit growth. The average sales price of a Miami single-family home in October was $421,546, a 29.9 percent increase compared to $324,611 at the.

At the current sales pace, there is a 5.3 month supply of single-family homes and 6.6 months of supply of condominiums in Miami-Dade, representing an increase of 17.8 percent and 24.5 percent.

Residential sales in Miami-Dade budged forward in July, increasing 0.8 percent to 2,249 from 2,232. That’s thanks to a 2.5 percent growth in condo sales to 1,132 from 1,104 closings in July..

Homes sales in Miami set a new record in 2012 and prices saw double digit growth, boosted by overseas buyers, according to the latest data from the Miami Association of Realtors. Year end sales of single-family homes in Miami-Dade County rose 7.9% compared to 2011 and condo sales were up 1.2%.

The Miami Association of Realtors reported Tuesday that sales of midrange houses and condos grew by double digits between January and March compared to the previous year, despite an overall.

Miami-Dade Third quarter sales rose in all three counties in South Florida, year-over-year, after months of home sales increases. Home prices also continued growing in Miami-Dade, Broward and Palm Beach counties. Miami-Dade Residential sales in the third quarter rose 15.2 percent, year-over-year, to 6,792 in Miami-Dade County, the highest surge of all three counties.