Miami Enjoys Record Home Sales in June

MiamiAccording to the Miami Association of Realtors, Miami’s real estate market recorded its highest number of single-family home sales of any month in history in June 2015, and is on pace to set another all-time annual sales record. The Miami market registered 1,390 single-family home sales in June, beating its previous record of 1,317 in June 2005.

A total of 7,100 single-family homes were sold in Miami in the first six months of 2015, an 8.5-percent increase from the 6,543 properties sold in the first half of 2014. Single-family home sales are on pace to reach 14,600 transactions for all of 2015. The annual Miami record is 13,521 sales, established last year.

Miami’s existing condominium market, which saw a 4.5 percent year-over-year increase in transactions in June, is also on pace for a banner year despite a rise in pre-construction condo sales. A total of 8,153 existing condos were sold in Miami in the first six months of 2015, which puts the market on pace for 16,030 transactions for all of 2015. That would rank as the third-most sales in Miami history behind the 16,409 sales in 2014 and the 17,142 closings in 2013.

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Authored By Miho Favela- See the Full Story at World Property Journal

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