Yet another news-worthy snippet: Sunday’s Miami Herald reports that Miami Home Sales ARE UP! .. and Inventories are down! The New York Times has much the same news regarding THE CURRENT REAL ESTATE MARKET IN MIAMI! (What a breath of fresh air… even though I swear it’s still hot as blazes in Miami!)… Well, word is that “the tide may have turned”. Real estate prices haven’t quite begun to edge up … yet … but, residential sales have in fact visibly risen. South Florida appears to once again be jockeying toward a semblance of recovery. The Miami Herald begins to murmer that MIAMI REAL ESTATE SALES ARE ON THE RISE .
Ron Shuffield, President of EWM Realtors ( in his Q&A for the August 16, 2009 Sunday, Miami Herald) responded to the question: “Is it true that sales are up and inventories are down?” with a definitive:
“Yep!” “The numbers tell the story… Broward and Miami-Dade residential inventories continued to decline during July, according to data from the Multiple Listing Service (MLS). Inventories dropped from 74,966 total homes and condos for sale in July 2008 to 49,058 in July 2009 a 35% decrease in just 12 months. During the same time-frame, sales increased 47% from an average of 2,518 sales per month. The inventory supply across both counties decreased from 30 months last year to 13 months today. Decreasing prices have beeen the prime motivator for our spike in sales this past year.
If you’re SELLING, now is the time to make sure that your property is priced accurately. If you’re BUYING, your CHOICES will continue to decrease throughout the remainder of 2009. Check out the Facts & Trends reports at www.ewm.com/trendx to see the numbers for your area and price range… or ask one of our associates to expand your search using our complete data file. Deals are happening.”