Miami Real Estate: Improving Sales and Prices for Florida Property Market with Miami Leading the Way

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Sales of existing condominiums in Miami have now increased 46% in the last 12 months while sales of family homes are up 20% year on year, the latest figures show. Condo sales in May alone increased 1.1% compared with April and houses jumped 5.4% on the month, the report from Miami’s Association of Realtors also shows.In May, 60% of closed sales were cash transactions. International sales, which are mostly cash transactions, represent approximately 60% of closed resales and 90% of new construction sales.It is good news for Florida which has been badly hit by the slum in real estate as a result of the global economic slowdown. In the state as a whole condo sales increased 17% and 3% single family homes.It flies in the face of the national picture which has seen sales of existing single family homes, town homes, condominiums, and co-ops fall 3.8% from April. They are now 15.3% below May 2010, according to the National Association of Realtors (NAR).‘The current performance of the Miami market is exceeding expectations, as we continue to see increased demand for local properties and higher sales levels than we have seen since the boom years,’ said Jack Levine, 2011 chairman of the Board of the Miami Association of Realtors.‘Presently, there is only a 7.4 month supply of housing inventory in Miami-Dade County. Both American and international buyers continue to take advantage of record affordability, Miami’s attractive lifestyle and weather, and other enviable local attributes,’ he added.

About Pamela's Blog

Pamela Diaz-de-Leon With an accomplished background encompassing Diplomacy, Architecture, Business and Film, Pamela Diaz-de-Leon brings to the real estate industry the entrepreneurial expertise which stem from her interdisciplinary experience. Her world wide network of distinguished personalities carefully knitted of relationships formed in her five years as the Cultural Attaché for the Instituto Cervantes, serving the King of Spain, in Chicago, and her Hollywood connections acquired while working with a recognized film distributor, give her the global platform in which she has developed her business with great success. Knowledgeable, informed and organized she holds ethics and integrity as her highest values thus, providing her customers with an excellence of service that ensures their utmost satisfaction and their continued loyalty to her work. Office. 305.677.5055 Cell. 305.720.8439
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