According to the Miami Realtors Association, January total pending home sales jumped 28% over January 2010 and increased 2.5% from December.  Pending sales were as follows: condominium: increased  37.2 percent compared year over year.  Increased 3.3 percent from December. single-family homes:  increased 15.531 percent from January 2010.  Increased 1.4 percent from December. Although this jump […]

Market information from the Multiple Listing Service for single family homes for the month of January are as follows: Closed sales:  8.  None were short sales, 7 were REOs. 5 were cash sales. Price range of closed sales: $565,000 – $48,000 Pending sales: 12.  2 short sales, 1 REO Price range of pending sales: $2.39 […]

There was so much good news about economic activity in the Miami Today, today that I had to share some of the ones that popped out at me.  In addition to the one about all of the economic growth numbers from November (see tomorrow’s post), the following things jumped out at me as a good […]

Market information from the Multiple Listing Service for single family homes for the month of January are as follows: Closed sales:  8.  Two were short sales, two were  REOs. 4, including the $2.7 million sale, were cash sales. Price range of closed sales: $2.7 million – $370,000 Pending sales: 58.  27 short sales, 8 REOs […]

Market information from the Multiple Listing Service for single family homes for the month of January are as follows: Closed sales:  7.  None were short sales or REOs. 2, including the $2.1 million, were cash sales. Price range of closed sales: $2.1 million – $570,000 Pending sales: 29.  16 short sales, 3 REOs Price range […]

Common belief in the residential real estate industry is that nothing happens until after Super Bowl Sunday, which this year happens to be February 6.  Many sellers hold off on listing their home until after then.  That may be a mistake.  Sales are currently up.  In Miami-Dade County, 893 single family homes and 1,397 condos […]

While the local real estate news has been giving us a snapshot of what has been happening in Miami’s real estate housing market, several housing reports are due out next week, which will give us a national picture of how the housing recovery is fairing. Tuesday –  S&P Case Shiller home price index:  this index […]

As of December 2010 REO Homes were 12% of Total Inventory and 41% of Total Sales Single family home Short Sales were 32% of Total Inventory and 19% of Total Sales REO Condos were 9% of Total Inventory and 46% of Total Sales Condo Short Sales were 32% of Total Inventory 22% of Total Sales

For single family homes as of December 2010: Median Price $172,000 vs $400,000 peak in May of 2007 8156 single family homes listed on the MLS vs a peak inventory of 17,070 in July of 2008 Currently there is a 10 month supply.  A 6-9 month supply is a stable market, so we are getting […]