Sunny Isles, FL

Sunny Isles Beach Real Estate News

Miami-Dade Pending Real Estate Sales Increase 33% in Five Months

Sunny Isles Beach Real Estate News: Pending home sales increased nearly 5.2% in just one month, from 7,197 in July 2009 to 7,570 in August 2009 in Miami-Dade County as more buyers continue to take advantage of improved affordability conditions and the first-time home buyer tax credit according to the Realtor Association of Greater Miami and the Beaches (RAMB) and Southeast Florida Multiple Listing Service. All of the latest data continues support the local market recovery.

Pending sales of single-family homes rose 3.4% in August 2009 from the previous month, from 3,599 to 3,722. Pending sales of condominiums in Miami-Dade County rose 6.9% from 3,598 to 3,848.

In the last five months in Miami-Dade, pending sales of single-family homes rose 26.6%, while pending sales of condominiums increased 40.5%. The total number of pending sales increased 33.3% from March 2009 to August 2009. "The number of pending sales and closed sales has increased dramatically over the last year," said Rick Burch, RAMB Chairman of the Board. "Local, national, and international buyers have seized the opportunities our market offers."

In Broward County pending home sales increased 7.4%, from 6,242 in July 2009 to 6,705 in August 2009. Pending sales of single-family homes rose 4.8% in August 2009 from the previous month, from 3,141 to 3,291. Pending sales of condos in Broward County rose 10.1% from 3,101 to 3,414.

In the last five months in Broward, pending sales of single-family homes rose 30.1%, while pending sales of condominiums increased 48.8%. The total number of pending sales in increased 39% from March 2009 to August 2009.

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Search North Miami Beach Pre-Foreclosure and Short Sale properties for under $150,000.00

For an average family to purchase a home in June, it would have to devote 15.7% of its gross income to mortgage-principal and interest, well below the 25% many experts recommend.

Did you know that more Americans signed sales contracts to buy homes in June than in May, which marks the 5th consecutive month of increases.

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Sunny Isles Beach Real Estate Data

In a year-to-year comparison, the median home sales price in Sunny Isles Beach increased by 11.8% in the beginning of August, or $42,000, and the number of home sales increased 76.8%.

Number of homes currently for sale:

Total = 1153

Single Family Homes = 31

Condos And Townhouses = 1101

Price per square foot of house space:

Median = $386

Minimum = $89

Maximum = $4,705

List Price:

Median = $429,000

Minimum = $500

Maximum = $12,900,000

Days on market:

Median = 159 Days

Minimum = 1 Days

Maximum = 1,736 Days

Sunny Isles Beach News: Florida existing home median price in June increased 2.49 percent over May's median price

"Research shows that the typical Florida homeowner intends to hold their property for 10 years. In 1998, Florida's statewide median price was $104,700; at the close of 2008, the statewide median price was $187,800. Long-term homeowners continue to have the benefit of price appreciation, as well as a benefit that simply can't be measured - a place to raise their families, make memories and enjoy their lives. A place to call home. And now, more than ever, consumers can rely on the expertise of Brosda & Bentley Realtors^TM to help them meet the challenges of today's marketplace, whether they're looking for a home or the perfect place for a new business."