Miami-Dade Condo Sales Up 97 Percent In April 2010

Miami-Dade pending sales of condominiums increased 97 percent in April 2010 compared to April 2009. Single-family homes rose 46 percent in April 2010. 5,818 condominiums were sold in April, up 7.6 percent from the previous month. Pending sales of single-family homes were up 5.3 percent or 4,574 homes.  

Total pending home sales in Miami-Dade County increased 6.6 percent in April, up from 9,751 to 10,392 pending sales. In the year-to-year comparison total home sales were up 71 percent compared to April 2009.

In Broward County pending sales of single-family homes rose 5.3 percent or 3,846 homes and condominium sales rose 3.5 percent or 4,679 units. Compared to the previous month, total pending home sales increased 4.3 percent or 8,525 homes.

In the year-to-year comparison single-family homes rose 44 percent in April in Broward County and condominium sales increased 85 percent.

This continues the trend in both Counties of dramatically increased home sales and drop of real estate inventory while prices stabilized. The data is provided by the Realtor Association of Greater Miami and the Beaches (RAMB) and the Southeast Florida Multiple Listing Service (SEFMLS)

A pending sale is when a contract has been signed, but the transaction has not yet been consummated. Increases in pending real estate sales are indicative of strong future sales.

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