Miami Real Estate: Miami-Dade Residential Real Estate Sales Head to a Record

Click for Full Story

By Yudislaidy Fernandez
Miami-Dade’s housing market is on track to sell more homes and condos than ever in its history, as national and international buyers fuel demand for its attractively-priced inventory.
The county’s home inventory has fallen more than 60% in the past three years, reduced from 42,000 homes available in 2008 to 17,000 today, said Ron Shuffield, president of Esslinger-Wooten-Maxwell Realtors, one of the region’s leading realty firms.
A balanced residential market should have six to nine months of housing supply, experts say. Today, Miami-Dade is boasting seven months of supply for single-family homes and six months for condos.
“As we drop below six months, then the rate of appreciate will begin to increase,” Mr. Shuffield said.
While real estate-owned properties, which are those banks have foreclosed upon, remain the majority of properties selling in the market, the number has slightly dropped this year, said Ralph De Martino, residential president of the Miami Association of Realtors.
Mr. Shuffield added that although distressed sales, consisting of foreclosed properties and short sales, are now 61% of total sales, that figure dropped from 67% five months ago.

Advertisements

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
This entry was posted in Miami Beach Condos, Miami Real Estate, Miami Waterfront Properties, Real Estate, South Beach Condos, South Beach Real Estate and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s