The Miami Association of Realtors announced some startling numbers regarding the recovery last week and we are thrilled to share them. Miami is one of the cornerstones markets in the US housing recovery and experts largely assign the recovery in Miami to the host of international buyers who flooded the market to take advantage of the distressed properties. Currently, the inventory in Miami Beach is shrinking rapidly and has remained at a 3 month supply and it is becoming more clear that it is no longer simply a buyers market, it is an excellent time to sell sa well. Below are five statistics released from the Miami Association of Realtors. Check in with us for the lates in Miami Beach real estate news.
1. During the month of August pending home sales were up 15% from last year.
2. Single family homes and condominium listings increased in price from last year by 26.3%, and from July to August increased 6.28%
3. Single Family and Condo pending sales were up 1% from July to August.
4. Single Family Pending Sales are up 10% from last year.
5. Condominium Pending Sales were down 5.5% from last year.