Miami FL Real Estate Sales Statistics - Sept 2009

Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.

Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. "The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules," he said. "No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month."

Let's take a look at the Miami real estate sales statistics for September compared to September 2008 to see how the market is looking in South Florida:

Single Family Real Estate Sales Statistics in Miami FL

Miami FL real estate sales statistics is representative of the South Florida market as a whole when comparing September 2009 to September 2008. The number of single family homes sold in 2009 increased by 32 percent compared to 2008. The number of new homes on the market decreased by 40.6 percent. The average sales price declined by 26.5 percent to $198,739, while the year-to-date average sales price declined 35.8 percent to $206,997.

Condo/Coop/Townhouse/Villa Real Estate Sales Statistics in Miami FL

September 2009 Miami FL real estate sales statistics for condo/townhouses etc. showed an increase in sales with sold listings up by 58.8 percent compared to 2008. New listings decreased by 23.6 percent. The average sales price dropped 46.9 percent to $150,074 and the year-to-date sales price dropped 40.2 percent to $172,603.

Statistics provided by the Realtor Association of Miami-Dade County and are deemed reliable, but not guaranteed.

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