News / Business
Miami Real Estate Is Hot
Condo Sales In Miami Increased 55 Percent In February Compared to 2010
Pending home sales – including single-family homes and condominiums – in Miami-Dade County increased 18 percent in March 2001 compared to a year earlier, from 9,751 to 11,544, and 3.24 percent, up from 11,182, compared to the previous month according to the 23,000-member MIAMI Association of Realtors and the Southeast Florida Multiple Listing Service (SEFMLS).
The number of single-family listings that pended in the month of February increased by 17 percent from 1,280 to 1,498 compared to the previous month and by 20 percent from 1,245 compared to the previous year. The number of condominium listings that pended in February increased by 16 percent from 2,168 to 2,511 compared to the previous month and by 55 percent from 1,617 compared to the previous year.
Pending Condominium Contract Activity on the Rise
In March, pending sales of condominiums outperformed that of single-family homes. Pending sales of single-family homes increased a 10.1 percent compared to a year ago, from 4,345 to 4,782, and increased two percent from 4,685 the previous month. Pending sales of condominiums in March increased 25 percent from the previous year, from 5,406 to 6,762, and 4.1 percent from the previous month, when pending condominium sales totaled 6,497.
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