Danny's Blog

Miami’s Successful Year of Home Sales

Thursday, February 18, 2016
Tags:   Miami Beach Waterfront Homes, Miami Beach Listings

The few remaining months of 2015 may have seen the sales of Miami homes slow down, yet the city still managed to have its third best ever year of sales. Miami-Dade County managed over 29,800 residential transactions last year, trumped only by the 30,041 and 29,930 in 2013 and 2014, respectively.

Breaking down the 2015 numbers, there were 13,936 single-family homes sold and 15,950 sales of condos, representing a corresponding increase of 3.1 percent and a decrease of 2.8 percent when compared to 2014.

Single family homes and condominiums both saw boosts in median home prices during 2015. The homes were trading for about $265,000, representing an increase of just over eight percent while condos were commanding a median price of $200,000, increasing by more than five percent.

Miami has seen its residential market sales skyrocket during the past three years. The county’s listing inventory is also remaining largely steady. Over 24,500 single family homes and 34,441 condos were listed for sale, leading to a modest increase of 0.6 percent compared to the numbers of 2014.

While the decrease in sales and price plateaus may seem like the market could be cooling off, they are also a positive indicator of a sustainable future pace.

This update is brought to you by Miami Beach Realtor Danny Hertzberg, specializing in Miami Beach waterfront homes as well as other Miami Beach listings throughout the barrier island. Contact Danny Hertzberg of The Jills, the number one team in the state of Florida by calling 305-505-1950 for information on properties throughout the barrier island.

 
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