Katerina Brosda

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."

Miami News: Florida's Existing Home, Condo Sales Up in June 2009 by 28 percent and 39 percent respectively

SUNNY ISLES BEACH, Fla., July 23, 2009 - Florida's existing home sales rose in June - the 10th consecutive month that sales activity showed gains in the year-to-year comparison, according to the latest housing data released by the Florida Association of Realtors® (FAR). Statewide sales in June also increased over the previous month's sales level in both the existing home and existing condominium markets. And, for the second month in a row, the statewide median sales price for existing homes was higher than the previous month's statewide median.

Existing home sales rose 28 percent last month with a total of 15,850 homes sold statewide compared to 12,339 homes sold in June 2008, according to FAR. Statewide existing home sales in June increased 13.8 percent over May's statewide activity.

Florida Realtors also reported a 39 percent rise in statewide sales of existing condos in June; existing condo sales last month rose 8.3 percent over the total units sold in May.

Sixteen of Florida's metropolitan statistical areas (MSAs) reported increased existing-home sales in June and 14 MSAs also showed gains in condo sales. A majority of the state's MSAs have reported increased sales for the past year (12 consecutive months).

Florida's median sales price for existing homes last month was $148,000; a year ago, it was $205,300 for a 28 percent decrease. However, the statewide existing home median price in June increased 2.49 percent over May's median price; it also was higher than the statewide median price reported each month since the start of 2009. According to housing industry analysts with the National Association of Realtors® (NAR), sales of foreclosures and other distressed properties continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. The median is the midpoint; half the homes sold for more, half for less.

The national median sales price for existing single-family homes in May 2009 was $172,900, down 16.1 percent from a year earlier, according to NAR. In Massachusetts, the statewide median resales price was $284,000 in May; in California, it was $267,570; in Maryland, it was $265,724; and in New York, it was $189,000.

NAR's latest housing industry outlook notes the $8,000 tax credit for first-time homebuyers is boosting the sector. "Strong activity by entry level buyers is helping to absorb inventory and allow some existing owners to make a trade," said NAR Chief Economist Lawrence Yun. "However, the increase in sales is less than expected because poor appraisals are stalling transactions. The big question is how much the appraisal issue will impact the ability of contracts to go to closing."

In Florida's year-to-year comparison for condos, 5,241 units sold statewide compared to 3,771 units in June 2008 for a 39 percent increase. The statewide existing condo median sales price last month was $112,900; in June 2008 it was $180,400 for a 37 percent decrease. The national median existing condo price was $173,800 in May 2009, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 5.42 percent last month, down significantly from the average rate of 6.32 percent in June 2008, according to Freddie Mac. FAR's sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

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Sunny Isles Beach Pre-Foreclosure and Short Sale Listings for under $150,000

With many residential mortgages recently going into default, distressed properties represent nearly 50% of all available listings and sales. Now you can scour the pool of distressed listings, including short sales, REOs, bank-owned properties, foreclosures, and pre-foreclosures.

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Pre-Foreclosure and Short Sales in Sunny Isles Beach

Jade Beach Condo Hot Deals in Sunny Isles Beach

Jade Beach is becoming a true landmark in the heart of prestigious Sunny Isles Beach. Only a few owners will enjoy Intracoastal bay, city and ocean views. Jade Beach Condominium, first of a pair, is a 51-story-tower with 248 spectacular residences in North Miami Beach, Florida's Rivera. Jade Ocean, the second tower is now also closing on dramatic sky homes.

Jade Beach in Sunny Isles Beach is an oasis unto itself. Overlooking the purest and widest beach in South Florida, just minutes from the ticking heart of a cosmopolitan city and nestled among some of the finest shopping in the world - Bal Harbour Shops and the Aventura Mall. It is perhaps the most precious gem in the Western Hemisphere due to its elegance, beauty and character.

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Check up-to-date availability of Jade Beach Condos by clicking on the highlighted text. You will find a list of what is currently on the market for resale; you may also organize your properties and sort pricing or even available rentals. Be automatically alerted to someone offering a pre-foreclosure or short sale opportunity in Jade Beach.

For special priced developer default inventory units, call us directly (305) 788-9393

Jade Beach

Sunny Isles Miami Beach

17001 Collins Avenue, Sunny Isles Beach

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Sales (305) 788-9393

SEARCH, FIND & CLICK Sunny Isles Beach Pre-Foreclosure and Short Sale Listings for under $500,000. Updated daily. Save and organize your properties!

With many residential mortgages recently going into default, distressed properties represent nearly 50% of all available listings. Now you can scour the pool of distressed listings, including short sales, REOs, bank-owned properties, foreclosures, and pre-foreclosures.

Our state-of-the-art website offers you the most reliable and up-to-date information on distressed offerings in the Miami area.

Our Advanced Search page has already been automatically updated to include distressed property search.

Aventura for for under $150,000. Updated daily!

Need assistance? (786) 406-1757

We also have a list of Approved and Negotiated Short Sales that are NOT listed in the MLS!!!

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Condo Sales

Miami, Florida

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