Miami Real Estate: Miami Property Market Looking Up

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By The Street
Home sales in Miami-Dade, Palm Beach and Broward counties are up according to new statistics provided by DataQuick. The total sales last month marked the highest sales in June since 2007, up 6% from the prior year. The vast majority of these sales, however, are for condos and resale homes, with new-home sales dropping 9% for the month and marking the lowest tally for the month of June on record. Positive sales numbers are attributed to lower prices, and some analysts suspect the increase in sales may be the sign of a market turnaround. The relatively low drop in prices for the month also fuels this prediction, falling only 1.5% from May. For more on this continue reading the following article from The Street. Miami-area June home sales climbed above the year-ago level for the seventh consecutive month, suggesting this year’s lower prices have helped offset the loss of the homebuyer tax credits that boosted demand in the first half of 2010. The median sale price dipped slightly month to month and fell 10 percent from June 2010, marking the 45th consecutive month in which the median has fallen year over year, a real estate information service reported. In June, 9,857 new and resale houses and condos closed escrow in the metro area encompassing Miami-Dade, Palm Beach and Broward counties. June sales rose 1.4 percent from the prior month and rose 6.0 percent from a year earlier, according to San Diego-based DataQuick. The firm tracks real estate trends nationally via public property records. On average, sales have risen 6.7 percent between May and June since 1997, when DataQuick’s complete Miami-area statistics begin.
June’s total sales were the highest for that month since June 2007 (when 10,136 homes sold) but fell 20.7 percent below the average June sales tally of 12,427 since 1997.

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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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