Condos sales declined 9% over the past year in Miami-Dade … Inventory is down by 30%.
That said though, interestingly enough, condos selling between $300,000 and $999,999 have shown a 32% increase … (Spring 2011 through Spring 2012). And in the $1 million plus range there was an 11% increase in sales.
As far as distressed property is concerned, 4% of the condos currently on the market in Miami-Dade are foreclosures (Foreclosures account for about 1/5 of all sales). Condos selling as short sales account for about 13% of the current inventory and 1/4 of all condo sales in Miami-Dade right now.
The Restivo Team – EWM Realtors – 305 793-1365 – restivo.v@ewm.com
Looking to buy? This is still a great time to buy property in Miami! Call us … We would love to help.
