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Home Sales Flirting with New Records in Miami-Dade

Home sales flirting with new records in Miami-Dade

Some key real estate records are finally falling again in South Florida.

Prices remain about 40 percent below peaks set in 2006 and about a third of all homes carry loans larger than what they’re worth, but sales have moved very close to new record levels.

Home sales back to boom records levels

This chart tracks a 12-month average of sales of existing single-family homes in Miami-Dade County, as reported by the Miami Association of Realtors. The current monthly average of 1,052 homes per month is just 4 percent below the past peak of 1,093 homes set in June 2004.

To appreciate just how strong of a comeback that represents, consider that in July 2008, the monthly average hit just 330 homes. That was a 70 percent plunge — a depressed market in crisis by any measure.

While the overall sales level remains just below peak, some months have already set new records. In 2013, February, May and July all posted record sales. The August numbers are set to be released Sept. 19.

Read more here: http://www.miamiherald.com/2013/09/04/3605396/home-sales-flirting-with-new-records.html#storylink=cpy

I hope you find this information useful. I’m here to assist you with all your South Florida real estate. Contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: 4 Comments »

Rising Miami Home Prices, Inventory Shortage Create Opportunity for Sellers

Rising Miami Home Prices, Inventory Shortage Create Opportunity for SellersHousing Prices

Submitted by Lynda Fernandez

Miami, FL – Miami home prices rose again in September, marking 10 consecutive months of appreciation, according to the 26,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. The median sales price of Miami-Dade condominiums, which has increased each of the last 15 months, rose 36.2 percent to $150,000 compared to a year earlier. The median sales price of single-family homes rose 8.6 percent to $190,000.

“The Miami real estate market continues to strengthen despite the shortage of housing inventory,” said 2012 Chairman of the Board of the MIAMI Association of REALTORS Martha Pomares. “We’ve seen nearly an entire year of significant monthly price increases, which makes now a great time to sell a home. Miami properties sell very quickly and draw multiple offers when priced right.”

In September the average sales price for condominiums in Miami-Dade County increased 30.2 percent to $277,774. The average sales price for single-family homes decreased 6.1 percent to $315,521.

Florida Statewide Home Prices

Statewide median sales prices in September increased 7.4 percent to $145,000 for single-family homes and 18.8 percent to $105,376 for condominiums, according to data from Florida Realtors Industry Data and Analysis department and vendor partner 10K Research and Marketing. The national median existing-home price for all housing types was $183,900 in September, an 11.3 percent increase from September 2011, according to the National Association of Realtors (NAR).

Miami Home Sales Rise Again in September

Total residential sales in Miami-Dade County Read the rest of this entry »

Written by Michael Solovay | Discussion: 1 Comment »

Miami Real Estate Market Focus

Miami Real Estate Market Focus

Miami-Dade Stats – August 2012

Miami-Dade Stats - August 2012We see year over year increases in closed sales, median sales price and average sales price for both single family homes and condos.  Current inventory and distressed sales are both down as compared to this same time last year.

** stats provided by the MIAMI Association of REALTORS. Copyright MIAMI, reprinted with permission.

I hope you find this information useful.  Please contact me for all your South Florida real estate needs at (305) 329-4929 or [email protected]


Written by Michael Solovay | Discussion: No Comments »

EWM Realtors – #1 Luxury Leader

EWM Realtors – #1 Luxury Leader

EWM #1 Luxury Leader

EWM Realtors is #1 in luxury sales (residences priced in excess of $1,000,000) for the period January 2011 – August 2011 with 222 residences sold in Miami-Dade and Broward.  EWM Realtors is the exclusive affiliate of Christie’s International Real Estate for Miami-Dade and Broward Counties.   We have exclusive access to 32,000 global real estate professionals through our affiliate networks: Christie’s, Luxury Portfolio International and Mayfair International Realty.

If you want to work with the #1 Luxury Leader contact me to discuss your real estate needs at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Summer 2011 Real Estate Market Update

Summer 2011 Real Estate Market Update

This real estate market update is presented by Ron Shuffield, President of EWM Realtors.  Today’s great values, which are truly half those 5 or 6 years ago,  are one reason why sales have taken off so much in 2011.  However, since January 2011 we have begun to see an increase in our prices, month after month.

[youtube]http://www.youtube.com/watch?v=ILUDyKW2h7U[/youtube]

Median Prices

Single Family Homes: Miami-Dade County

  • January 2011  $150,000
  • May 2011 – $180,000

Single Family Homes: Broward County

  • January 2011 – $165,000
  • May 2011 – $190,000

Condominiums: Miami-Dade County

  • January 2011 – $90,000
  • May 2011 – $124,000

Condominiums: Broward County

  • January 2011 – $68,000
  • May 2011 – $78,000

This is the best time to purchase real estate in South Florida in the past 6 years.

For more information on the South Florida real estate market please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

Condo Prices for Aventura, FL vs. Miami-Dade County

Condo Prices for Aventura, FL vs. Miami-Dade County

Medium Chart

Medium Chart

Written by Michael Solovay | Discussion: No Comments »

South Florida Foreclosure Activity

South Florida Foreclosure Activity

as of March 4, 2011

According to The Real Deal, the  number of foreclosures in South Florida year-to-date is 4,761 which is down from 14,314 at this same time last year.  The graph below shows foreclosure activity in Miami-Dade, Broward and Palm Beach Counties.

South Florida Foreclosures

For more real estate information please contact me at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

EWM Realtors is #1 Realtor in Miami-Dade County

EWM Realtors is #1 Realtor in Miami-Dade County For The Number of Luxury Homes & Condos  Sold in 2010Christie's

Esslinger Wooten Maxwell (EWM) Realtors has been the exclusive South Florida affiliate of Christie’s Great Estates (a one-of-a-kind, Christie’s owned international network of top-tier real estate brokerages throughout the world) for the past decade.  This affiliation has been the foundation for the sale of many of South Florida’s finest estates.  This relationship has been an integral part of EWM’s market leadership in South Florida residences valued greater than $1 million.  This has made EWM the number one real estate brokerage firm in Miami-Dade County for the number of luxury homes and condominiums sold.

EWM is involved in the sale of a luxury home or condo valued more than $1 million every 36 hours, 365 days of the year.

This information was compiled by data supplied by the:

  • Realtor Association of Miami-Dade County
  • Realtor Association of Greater Miami & the Beaches
  • Northwestern Dade Association of Realtors
  • Realtor Association of Greater Fort Lauderdale, or their MLS’s

for the period of May, June and July 2010.

EWM Realtors vs Competitors

EWM Realtors also holds the #1 ranking for the year 2009 in the same category.

Why not work with the best?

Contact me today at (305) 329-4929 or [email protected]

Written by Michael Solovay | Discussion: No Comments »

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