Sunny Isles Miami Beach Real Estate Listings, Miami Condo Tips, Real Estate Market Trends & News

The Miami real estate market has experienced a surge in sales each of the last 16 months   

The inventory of listings in Miami-Dade County according to the Southeast Florida Multiple Listing Service has dropped more than 41 percent in the last 15 months - from 43,095 to 25,415 - and November 2009 brought a 2.8 percent decrease in just one month. Nationally, total housing inventory at the end of November declined 1.3 percent from the previous month.

According to the Southeast Florida Multiple Listing Service, the average sales price for residential properties that sold in Miami-Dade County in November 2009 was $317,441 for single-family homes and $248,528 for condominiums - an increase of 5.2 percent and a decrease of only 10 percent respectively compared to the previous year.

The Brosda and Bentley website features more than 50,000 real estate listings. Users can search the MLS for free for the most comprehensive real estate data available.

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About Brosda & Bentley Realtors®

Brosda & Bentley Realtors® is the premier Miami real estate authority for home buying, home selling, financing and property listings in Aventura, Sunny Isles Beach, Golden Beach, Bal Harbour, Surfside, Miami Beach and Downtown Miami. Whether it's a house an estate, beachfront mansion, luxurious oceanfront condo, pristine pre-construction, commercial or any other type of property, a Brosda & Bentley^TM Real Estate Consultants can assist you with all your real estate needs in the Greater Miami area and the Beaches. Brosda & Bentley Realtors® is specialized in luxurious developments like Acqualina, Apogee South Beach, Continuum Towers SoBe, Fisher Island, Fontainebleau, Gansevoort SoBe, ICON South Beach, Jade Beach, Jade Ocean Sunny Isles, Ocean IV, Trump Palace, Trump Royale, Trump Hollywood, Trump Towers Miami, Turnberry Ocean Colony, Ten Museum Park, St. Regis Bal Harbour, Portofino Tower, St. Tropez Condo Sunny Isles Beach and many, many more.

On a worldwide scale Brosda & Bentley^TM is a leading professional real estate services firm specializing in marketing planned unit developments, residential and commercial properties located in exclusive real estate markets throughout the globe.

Miami Real Estate Sales Up 46 Percent in 7 Months

Pending home sales increased 4.5 percent in just one month, from 7,944 in September 2009 to 8,304 in October 2009 in Miami-Dade County as more buyers continue to take advantage of record-setting affordability conditions, the first-time home buyer tax credit, and a wide selection of properties to choose from according to the Realtor Association of Greater Miami and the Beaches (RAMB) and the Southeast Florida Multiple Listing Service. This coupled with the number of closed sales increasing each of the last 14 months is indicative of a stabilizing market.

Pending sales of single-family homes in Miami-Dade County rose 4 percent in October 2009 from the previous month, from 3,722 to 3,919. Pending sales of condominiums performed better than that of single-family homes in October, rising 5.1 percent from 4,172 to 4,385.

Miami-Dade Pending Sales Jump 40 Percent in Six Months
In the last seven months in Miami-Dade, pending sales of single-family homes rose a 33.3 percent, while pending sales of condominiums increased 60.1 percent. The total number of pending sales increased a significant 46.2 percent from March 2009 to October 2009.

"Pending home sales have increased substantially in South Florida over the last seven months," said Rick Burch, RAMB Chairman of the Board. "Pending sales are a strong indication of future sales and, in the current market, point to the stabilization of the local market."

Broward County Pending Sales
In Broward County pending home sales increased 0.9 percent, from 7,204 to 7,266 in October 2009. Pending sales of single-family homes fell 1.2 percent in October 2009 from the previous month, from 3,458 to 3,418. Pending sales of condominiums in Broward County rose 2.7 percent from 3,746 to 3,848.

In the last Seven months Broward pending sales of single-family homes rose 35.2 percent, while pending sales of condominiums increased 67.7 percent. The total number of pending sales increased 50.7 percent from March 2009 to October 2009.

A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. Increased pending sales are an indication of increased future sales, and in the current market, are signs that the South Florida market is stabilizing.

Related Article: http://news.yahoo.com/s/ap/20091106/ap_on_go_co/us_jobless_benefits_homebuyers

Miami Real Estate Sales : (786) 406-1757

Miami Real Estate News: Florida's Existing Condo Sales Up 77% in September 2009

Florida's existing home sales rose in September, which marks more than a year (13 months) that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®. September's statewide sales also increased over sales activity in August in both the existing home and existing condominium markets.

Existing home sales rose 34 percent last month with a total of 14,419 homes sold statewide compared to 10,778 homes sold in September 2008, according to Florida Realtors. Statewide existing home sales last month increased 4.1 percent over statewide sales activity in August.

Florida Realtors also reported a 77 percent increase in statewide sales of existing condos in September compared to the previous year's sales figure; statewide existing condo sales last month rose 8.9 percent over the total units sold in August.

All of Florida's metropolitan statistical areas (MSAs) reported increased existing home sales in September; all but one MSA also showed gains in condo sales. A majority of the state's MSAs have reported increased sales for 15 consecutive months.

Florida's median sales price for existing homes last month was $142,000; a year ago, it was $174,900 for a 19 percent decrease. Housing industry analysts with the National Association of Realtors® (NAR) note that 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 August 2009 was $177,500, down 12.1 percent from a year earlier, according to NAR. In Massachusetts, the statewide median resales price was $315,000 in August; in California, it was $292,960; in Maryland, it was $265,862; and in New York, it was $205,000.

NAR's latest industry outlook notes positive signs in the housing sector, but adds that extension of the federal first-time homebuyer tax credit would help sustain a fragile recovery."Now that the market is showing some momentum, we have an opportunity to achieve a more rapid and broader stabilization in home prices," said NAR Chief Economist Lawrence Yun. The outlook for home sales and prices depends on whether the tax credit is extended, he said, describing it as "the best tool in our arsenal to encourage financially qualified buyers to stimulate the economy and help reduce the budget deficit."

In Florida's year-to-year comparison for condos, 5,088 units sold statewide last month compared to 2,870 units in September 2008 for a 77 percent increase. The statewide existing condo median sales price last month was $102,500; in September 2008 it was $153,500 for a 33 percent decrease. The national median existing condo price was $179,300 in August 2009, according to NAR.

Interestrates for a 30-year fixed-rate mortgage averaged 5.06 percent last month, a significant drop from the average rate of 6.04 percent in September 2008, according to Freddie Mac. FAR's sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Among the state's smaller markets, the Pensacola MSA reported a total of 275 homes sold in September compared to 267 homes a year earlier for a 3 percent increase. The market's existing home median sales price last month was $135,000; a year ago it was $146,900 for an 8 percent decrease. A total of 48 condos sold in the MSA in September, up 41 percent over the 34 units sold in September 2008. The existing condo median price last month was $190,000; a year earlier, it was $180,000 for a 6 percent gain.

Contact: (786) 406-1757

Downtown Miami Condos by Brosda & Bentley Realtors^TM the Premier Miami Real Estate Authority (786) 406-1757 ICON, Marina Blue & Epic

Miami metropolitan area, is the seventh-largest metro area in the United States with over 5.4 million residents. Miami is recognized as a global city because of its importance in finance, commerce, media, entertainment, arts and international trade. The city is home to many company headquarters, banks, and television studios. It is an international center for popular entertainment in television, music, fashion, film, and the performing arts. The city's Port of Miami is known for accommodating the largest volume of cruise ships in the world. Miami is also home to the largest concentration of international banks in the United States.

Since 2001, Miami has been undergoing a large building boom with more than 50 skyscrapers rising over 400 feet (122 m) built or currently under construction in the city. Miami's skyline is ranked third most impressive in the U.S., behind New York City and Chicago, and 18th in the world according to the Almanac of Architecture and Design. Its growth has made it the ninth tallest skyline in the United States and 25th tallest in the world. The city currently has the eight tallest (as well as thirteen of the fourteen tallest) skyscrapers in the state of Florida, with the tallest being the 789-foot (240 m) Four Seasons Hotel & Tower.

In 2008, Miami was ranked as "America's Cleanest City" according to Forbes Magazine for its year-round good air quality, vast green spaces, clean drinking water, clean streets and city-wide recycling programs. In 2008, Miami was also ranked the 3rd-richest city in the United States and the world's 22nd-richest city in a UBS study.

Check out these new downtown towers: ICON, Marina Blue & Epic

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Condo Sales          

Miami, Florida

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Florida's Existing Home Sales Up 28%, Condo Sales Up 45% in August 2009

SUNNY ISLES BEACH, Fla., Sept. 24, 2009 - Florida's existing home sales rose in August - marking a full calendar year (12 months) that sales activity increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

Existing home sales rose 28 percent last month with a total of 13,850 homes sold statewide compared to 10,813 homes sold in August 2008, according to Florida Realtors. The state association also reported a 45 percent increase in last month's statewide sales of existing condos compared to the previous year's sales figure.

Sixteen of Florida's metropolitan statistical areas (MSAs) reported increased existing home sales in August; 18 MSAs also showed gains in condo sales. A majority of the state's MSAs have reported increased sales for 14 consecutive months.

"For a year now, statewide sales of existing single-family homes in Florida have increased each month compared to the year-ago figures," says 2009 Florida Realtors® President Cynthia Shelton, CCIM, CRE, a broker and director of investment sales with Colliers Arnold in Orlando. (CCIM stands for Certified Commercial Investment Member and CRE is the Counselor of Real Estate designation). "This is encouraging news, and while it shows the beginnings of recovery, the housing market still needs time to continue its gradual absorption of housing inventory that will help stabilize home prices. That is why it is critical for Congress to extend the first-time homebuyer tax credit into 2010. And, because it's now taking longer to finalize a home sale, first-time buyers who want to take advantage of the $8,000 federal tax credit need to act quickly, or they may miss the closing deadline of Nov. 30, 2009."

Florida's median sales price for existing homes last month was $147,400; a year ago, it was $188,500 for a 22 percent decrease. Housing industry analysts with the National Association of Realtors® (NAR) note that 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 July 2009 was $178,300, down 14.6 percent from a year earlier, according to NAR. In Massachusetts, the statewide median resales price was $310,000 in July; in California, it was $285,480; in Maryland, it was $273,769; and in New York, it was $205,000.

Signs point toward continued positive momentum in the housing sector, according to NAR's latest industry outlook. NAR Chief Economist Lawrence Yun predicts existing home sales will rise through the fourth quarter. "Unless the tax credit is extended, no one should be surprised to see home sales drop in the first quarter of next year," he said. "However, the fundamentals of the housing market and the economy are trending up, and we expect home sales to generally pick up in the second quarter of 2010. The buyer psychology may be shifting from, ‘Why buy now when I can purchase later,' to ‘I don't want to miss out on a recovery.'"

In Florida's year-to-year comparison for condos, 4,674 units sold statewide compared to 3,222 units in August 2008 for a 45 percent increase. The statewide existing condo median sales price last month was $107,500; in August 2008 it was $158,100 for a 32 percent decrease. The national median existing condo price was $178,800 in July 2009, according to NAR.

Interest rates for a 30-year fixed-rate mortgage averaged 5.19 percent last month, down significantly from the average rate of 6.48 percent in August 2008, according to Freddie Mac. FAR's sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.

Sunny Isles Beach Broker News

(786) 406-1757

Miami Real Estate News - Pending Homes Sales Up in July

Miami-Dade pending existing home sales rose by 4.95 % in July or 3, 599 properties. Pending condo sales jumped 7.98 % or 3.332 units.

In Broward County pending existing home sales rose by 5.16% or 3,141 properties in July. Pending condo sales where even higher percentagewise than in Miami-Dade with 9.22 % or 3,101 units.

Pending homes sales are predicted to close within two month, not all pending sales close, however.

Brosda & Bentley Realtors^TM

(786) 406-1757  

Miami Real Estate News - 5,241 condos sold in Florida compared to 3,771 condos in June 2008

In Florida's year-to-year comparison for condos, 5,241 condo units sold statewide compared to 3,771 condo units in June 2008 for a 39 percent increase. Existing condo sales last month rose 8.3 percent over the total units sold in May.

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.

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. Florida existing home sales in June increased 13.8 percent over May's statewide activity.

 Miami Real Estate

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YOU MUST pre-register with broker and sign a Confidentially Agreement. Owner finance may be available. Terms are negotiable. This is a true gem in always busy downtown Miami, with great upside potential due to downtown condos filling up, new leases on restaurants, bars and entertainment venues being signed! Don’t miss this one, if you are interested if you are interested in a downtown Miami gas station and convenient store with additional tenants which bring income.

http://www.sunnyislesbeachbroker.com/Miami/Florida/Commercial_Real_Estate/Southeast_Florida/Downtown_Miami/Agent/Listing_3580870.html

Alfonso Pinzón TRC. New York Lic. Real Estate Broker Florida Realtor Consultant Luxury Home Marketing Institute Member Brosda & Benltey Realtors LLC Commercial Division Aventura ,Florida 33180 Tel. 1-954-458-3117 Cell. 1-954-817-7883 Fax. 1-954-458-8635 pinzonal@hotmail.com