Miami Market Watch – June 2013 Zip Code: 33131, 33132 Property Type: Single Family Home, Townhome, Condo | Price $0 to $999,999,000 Market Profile & Trends Overview Month LM L3M PYM LY YTD PriorYTD PriorYear Median List Price of all Current Listings $490,000 Average List Price of all Current Listings $802,147 June Median Sales Price […]
Confirming the headlines we’ve been reading, inventory in the Coconut Grove, Brickell, Downtown, Midtown and Arts/Design Districts continue to drop at a steady pace – 48% over the past two years – while the number of sales have increased by almost 19% in the same time period.
Interest Rates in Florida January to December 2011 (BankRate.com) 30-year mortgage interest rates continue a downward trend to 3.94% this week, while Frank Nothaft, chief economist for Freddie Mac predicts mortgage rates will remain very low through mid-2012.
Second Quarter 2011 vs Same Quarter Four Years Ago Available Inventory down 29.4% Closed Sales up 136.2% Pending Sales up 252.7% Months of Available Inventory currently 8 to 12 months
It should not come as a surprise to anyone that foreclosures are still driving our Miami-Dade real estate market. But what is interesting to me is how many homeowners are still trying to sell their single family houses at prices far above what the market demands. For the homes that are going under contract, the “days […]