Miami Properties Average 41 Days on the Market

Miami Properties Average 41 Days on the Market in September

It could certainly be an annoying experience to have ready and able buyers with a shortage of inventory. The elite wealthy buyers usually don’t have so much trouble getting what they want but for the average buyer the competition is practically vicious. Even in some of the new developments, the best and most economical units are reserved in matter of days if not hours in some cases.  According to the last report for the Miami Association of Realtors one of the most encouraging signs from September’s data is the speed at which real estate is being sold in Miami, demonstrating a strong demand from buyers.

 The median number of days on the market for single-family homes sold in September 2013 was just over a month, 41 days, a decrease of 2.4 percent from the prior year. In addition, the average sales price was 95.9 percent of the listed price, up from 93.1 percent the prior year, indicating that homes are being priced right. 

Condominiums also sold at a rapid pace and close to their asking price in September 2013. Condominiums sold in September had been on the market for just 46 days. Meanwhile, selling prices for condominiums were 96.7 percent of the listed price last month.

It is not the seller but the market that determines the value of any given property. With such great demand for Real Estate, any seller who lists his property at market value will have no issues in selling fast here in Miami.

Call me now to schedule a complete presentation of any project in Miami. Please contact me at 954.254.6085 or email me at JuanSolerRealtor@gmail.com 

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