A FEW NOTES ON THE STATS:
- Inventory in the county has dropped, we have a 6 month supply "normal market conditions" of homes for sale (light green bars).
- Pending sales are up to 1,515 for June 2011, the highest we've seen in over 7 years...
- Short sale inventory equals 33.1% of our total home inventory for sale.
- Pricing remains steady overall for Miami-Dade... average single family home up to $341,000 from $338,000.
- Lack of inventory and increase in buyer activity w/low mortgage interest rates is what's keeping our prices stable now, rather than declining.
- This statistic is for Miami-Dade county as as whole. Contact me for specific information about Coral Gables, Coconut Grove, Pinecrest, Miami Beach, Palmetto Bay, South Miami, or your specific neighborhood in Miami Dade or Broward County.
For more detail or market discussion, contact me directly at 305-345-8153, or at Lisa@FoxProductions.com.
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Thanks for the update. It is great to see we are recovering slowly but surely. As Miami was one of the first to feel the pain of the economic slowdown we will be one of the first to recover. This is a dynamic city with many cultures from around the world residing here. A true international hub and for that reason I believe we will have the fastest recovery in the nation. Please continue to update everyone with the good news that should only get better.
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