Real Estate Information Archive

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

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.

Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in November, fell 16.0 percent to 96.0 from an upwardly revised 114.3 in October, but is 15.5 percent higher than November 2008 when it was 83.1.  

Lawrence Yun, NAR chief economist, said a drop was expected. “It will be at least early spring before we see notable gains in sales activity as home buyers respond to the recently extended and expanded tax credit,” he said. “The fact that pending home sales are comfortably above year-ago levels shows the market has gained sufficient momentum on its own. We expect another surge in the spring as more home buyers take advantage of affordable housing conditions before the tax credit expires.”  

Let’s take a look at the Miami real estate sales statistics for December compared to December 2008 to see how the market is looking in South Florida:    

Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing. “Keep in mind that housing had been underperforming over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.

Let’s take a look at the Miami real estate sales statistics for November compared to November 2008 to see how the market is looking in South Florida:  

Miami FL Real Estate Sales Statistics - Condo/Coop/Townhouse/Villa

November 2009 market statistics for condo/townhouses etc. in Miami showed an increase in sales with sold listings up by 44.3 percent compared to 2008. New listings decreased by 5.7 percent. The average sales price increased 8.2 percent to $211,717 and the year-to-date sales price dropped 36.6 percent to $172,312.  

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

To begin searching for South Florida homes, please use our complimentary MLS search.  

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

The U.S. Treasury Department has released a plan to speed up and simplify Short Sales as a means to help families avoid foreclosure.

MIami FL real estate Short Sales have been difficult to close, and these new measures are a huge step in the right direction. One major highlight: A lender must give a yes or no answer to an offer within 10 days. Also included: a moving allowance, incentives for sellers and lenders, commission rules, and a stipulation that releases sellers from debt liabilities.

If you or someone you know is behind on mortgage payments, a Short Sale may the the answer to saving your home. I am a Certified Distressed Property Expert (CDPE), trained in helping families avoid foreclosure.

Check out SouthFloridaRealEstateShortSale.com and then give us a call for a personal consultation. 

This year's Snowfest, celebrating and benefiting local families and children, was a huge success with a parade, entertainment, music, games, rides, vendor booths, a silent auction, 30 tons of snow and a special appearance by Santa and his elves. Even though the event is passed, we are still collecting toys and food through Dec. 21^st, which will be distributed to needy families. 

This week's HOT home buy...

448 Poinciana Island Drive, Sunny Isles

The holiday shopping season is in full swing and many online stores are offering price-protection guarantees. If the price falls within 30 days or so, you can request a refund. But who has time to check prices on gifts we've already bought?

Price Protectr can help! Just enter your recent purchases and a few details. You'll be notified of price drops! Price Protectr doesn't work with all shopping sites. But it does support more than 160 popular ones.

And for the best deal when buying Miami FL real estate give us a call. We'll put our negotiating skills to work for YOU!

See Ellen in the news.

Don't forget our 19^th Annual Snowfest to Celebrate, Collect Food and Toys for Local Families being held this Saturday. We're still looking for Angel Sponsors.

This week's HOT home buys...

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.

Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. "The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules," he said. "No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month." 

Condo/Coop/Townhouse/Villa Real Estate Sales Statistics in Miami FL

September 2009 Miami FL real estate sales statistics for condo/townhouses etc. showed an increase in sales with sold listings up by 58.8 percent compared to 2008. New listings decreased by 23.6 percent. The average sales price dropped 46.9 percent to $150,074 and the year-to-date sales price dropped 40.2 percent to $172,603.

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

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 South Florida homes, please use our complimentary MLS search.  

Contract activity for pending home sales has risen for six straight months, a pattern not seen in the history of the index since it began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in July, increased 3.2 percent to 97.6 from a reading of 94.6 in June, and is 12.0 percent higher than July 2008 when it was 87.1.  The index is at the highest level since June 2007 when it was 100.7.

Lawrence Yun, NAR chief economist, said the housing market momentum has clearly turned for the better.  "The recovery is broad-based across many parts of the country.  Housing affordability has been at record highs this year with the added stimulus of a first-time buyer tax credit," he said. "Other buyers are taking advantage of low home values before prices turn higher.  Nationally, the typical mortgage payment now takes less than 25 percent of a middle-income family's monthly income to buy a median priced home, with payment percentages so far in 2009 being the lowest on record dating back to 1970.  As long as home buyers stay within their budget, mortgage payments will be very manageable," Yun said.

Let’s take a look at the Miami real estate sales statistics for July compared to July 2008 to see how the market is looking in South Florida:

Condo/Coop/Townhouse/Villa Sales in Miami

August 2009 market statistics for condo/townhouses etc. in Miami showed an increase in sales with sold listings up by 35.8 percent compared to 2008. New listings decreased by 25.1 percent. The average sales price dropped 6.1 percent to $236,063 and the year-to-date sales price dropped 41.8 percent to $173,697.

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

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

To begin searching for South Florida homes, please use our complimentary MLS search.