News / Business
Miami Home Sales Up 29 Percent In Fourth Quarter 2010
Miami Has Seen 10 Consecutive Quarters Of Increasing Sales
In the Miami Metropolitan Statistical Area (MSA), sales of homes increased 29 percent in the fourth quarter of 2010, from 3,671 to 4,740, compared to a year earlier and 93 percent compared to the fourth quarter of 2008. This rise marks 10 consecutive quarters of increasing sales according to the MIAMI Association of Realtors and the Southeast Florida Multiple Listing Service.
Miami sales of existing single-family homes increased 19 percent in the fourth quarter compared to a year earlier and were up 57 percent from two years ago. The sales of existing condominiums in Miami jumped 38 percent compared to the fourth quarter of 2009 and 131 percent from the fourth quarter in 2008. Statewide sales of single-family homes decreased 10 percent while sales of condominiums increased six percent.
Total housing inventory in Miami-Dade County has decreased 11 percent from a year ago and 9.5 percent from the previous quarter.
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