Miami FL Real Estate Sales Statistics - March 2010
Pending home sales rose sharply in February, potentially signaling a second surge of home sales in response to the home buyer tax credit, according to the National Association of Realtors®. Contracts signed in February, rose 8.2 percent above February 2009. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.
Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. “The rise in pending sales may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten. We need a second surge to reduce inventory and stabilize home values.”
Let's look at look at the Miami real estate sales for March 2010 compared to March 2009 to see how the recovery is progressing in South Florida.
Single Family Homes Sales in Miami
The Miami market is representative of the South Florida market as a whole when comparing March 2010 to March 2009.
The number of single family homes sold in 2010 decreased by 4.3 percent compared to 2009. The number of new homes on the market decreased by 30.2 percent. The average sales price increased by 3.9 percent to $235,041, while the year-to-date average sales price increased 29.7 percent to $211,707.
|
Date |
New |
Sold |
Average |
Y-to-D |
|
Mar 2010 |
819 |
427 |
$235,041 |
$211,707 |
|
Mar 2009 |
1,174 |
446 |
$244,562 |
$301,153 |
Condo/Coop/Townhouse/Villa Sales in Miami
March 2010 market statistics for condo/townhouses etc. in Miami showed an increase in sales with sold listings up by 48.7 percent compared to 2009. New listings decreased by 7.8 percent. The average sales price decreased by 5.3 percent to $176,281 and the year-to-date sales price dropped 32.7 percent to $175,041.
|
Date |
New |
Sold |
Average |
Y-to-D |
|
Mar 2010 |
999 |
473 |
$176,281 |
$175,041 |
|
Mar 2009 |
1,083 |
341 |
$186,214 |
$260,016 |
If you want to learn more about South Florida real estate, please contact us at 888-SFL-TEAM or visit HomeInSouthFlorida.com.
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Statistics provided by the Realtor Association of Miami-Dade County and are deemed reliable, but not guaranteed.
