Average Real Estate Sales Price in Miami-Dade Up in June

Average sales prices have increased consistently over the last few months in Miami-Dade County. For Miami condominiums the average sales price rose considerably in June 2010. According to the  Florida Multiple Listing Service (SEFMLS), the average sales price for residential properties that sold in Miami-Dade County in June increased 7.2 percent from the previous year to $359,532 for single-family homes and 14.6 percent to $281,146 for condominiums.

The inventory of residential listings in Miami-Dade County according to the SEFMLS has dropped 13 percent from 28,956 to 25,190 since June 2009. The number of active single-family home listings is 16 percent lower compared to a year ago, while active condominium listings have dropped 11.4 percent. Compared to last month, the total inventory of homes increased 1.9 percent. The average days a property stays on the market decreased 17.4 percent for single-family homes and 10.9 percent for condominiums. Nationally, total housing inventory at the end of June rose 2.5 percent from the previous month.

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