The median days on the market forĬondominiums was 60 compared to 57 last year, an increase of 5.3 percent. The median days on the market for single-family home listings during the third quarter was 39Ĭompared to 45 a year ago, a decrease of 13.3 percent. Sellers offers between six and nine months of supply inventory. Inventory for single-family homes and 8.7 for condominiums. At the current sales pace, the number of active listings represents 5.1 months of The Miami single-family home sector is in a seller’s market, while existing condos are leaning toward aīuyer’s market. January 2015 to September 2015, saw a 6.3 percent year-over-year increase in active listings in the third Miami existing condos, which are also having a banner year with 12,265 existing condos sales from The annual Miami record is 13,521 sales, established last year. A total ofġ0,799 single-family homes were sold in Miami from January 2015 and September 2015, which puts the A record-level of single-family home sales in Miami has created the lower inventory. The inventory for single-family homes decreased 5.4 percent compared to the same period from last Had 17,837 active listings in the third quarter, a 2.0 percent increase from the 17,480 listings at the same Seller confidence in Miami’s housing market continued to expand in the third quarter. The Florida median price forĬondos during the quarter was $150,000, up 7.9 percent over the year-ago figure. Percent from the same time a year ago, according to Florida Realtors. Statewide, the median sales price for single-family existing homes in 3Q 2015 was $199,900 up 9.8 The national median existing–Ĭondo price was $215,200 in the third quarter, up 2.0 percent from the third quarter of 2014 ($211,000). Percent from the third quarter of 2014 ($217,100), according to NAR. Nationally, the median existing single-family home price in the third quarter was $229,000, up 5.5 Hong Kong ($776,280), and New York ($1.6 million) were at least five times higher. The price for the same condo in London ($960,840), Lauderdale-Miami Beach cost $149,900 on average. NAR analyzed the cost of a 120-square meter condo in a number of foreign citiesīased on prices reported in the Global Property Guide. Global cities, according to the National Association of Realtors 2015 Profile of Home Buying Activity of Has now seen 15 consecutive quarters of price growth for single-family homes and condominiums.ĭespite the increase in median prices, Miami’s residential properties remain more affordable than other The median price for existingĬondominiums increased 4.8 percent year-over-year from $189,900 to $199,000. Quarter, a 9.3 percent jump from $250,000 in the same period last year. The median price for single-family homes in Miami-Dade County increased to $273,200 in the third Miami Median Prices for Single-Family Homes, Condos Climb in 3Q Florida’s townhome-condo market totaled 28,860ĭuring 3Q 2015, up 8.9 percent compared to 3Q 2014. The 3Q 2014 figure, according to Florida Realtors. Statewide, closed sales of existing single-family homes totaled 74,141 in 3Q 2015, up 14.7 percent over Quarter, and are 8.3 percent higher than the 5.06 million pace during the third quarter of 2014,Īccording to the National Association of REALTORS®. Seasonally adjusted annual rate of 5.48 million in the third quarter from 5.30 million in the second Nationally, total existing-home sales for single-family and condominiums increased 3.4 percent to a That’s down from the 4.14 percent average in the same quarter a year earlier. The interest rate for a 30-year fixed-rate mortgage averaged 3.95 percent for 3Q 2015, according toįreddie Mac. Job market are encouraging more consumers to purchase property in Miami.” Today’s prices coupled with historic-low mortgage rates and South Florida’s diversified Home prices are at 2004 levels, considerably lower than world cities such as New York, LondonĪnd Hong Kong. Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI. “Miami real estate remains a bargain compared to other world-class global cities,” said Christopher Despite a rise in supply of Miami pre-construction condo unitsĮast of Interstate 95, existing condo transactions increased 0.8 percent from 4,080 to 4,112. Miami-Dade County had 7,811 total residential sales in the third quarter of 2015, a 2.3 percent increaseĬompared to the 7,632 sales in the third quarter of 2014. (MIAMI) and the local Multiple Listing Service systems. Period in 2014, according to a new report by the 40,000-member MIAMI Association of REALTORS® Home transactions, existing condo transactions and median prices grew compared to the same MIAMI - Miami-Dade County real estate posted a robust third quarter as total residential sales, singlefamily Miami Real Estate Continues Strong Momentum in 3Q
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