Miami Condos Selling Fast & Close to List Price Miami properties continue to sell at a rapid pace and at nearly asking price, reflecting strong demand.
The median number of days on the market for single-family homes sold in September was just 46 days, an increase of 12.2 percent from September 2013. The average percent of original list price received was 95.6 percent, down a negligible 0.3 percent from a year earlier.
The median number of days on the market for condominiums sold in September was 59 days, an increase of 28.3 percent compared to the same period in 2013. The average sales price was 93.9 percent of the asking price, a decrease of 2.9 percent. “While greater supply is creating more opportunities for buyers, particularly for condominiums, lack of financing for condominiums and new construction sales are impacting existing sales,” said 2014 MIAMI Association of REALTORS Residential President Francisco Angulo. “The Miami real estate market remains very competitive depending on neighborhood, price point and property type.”
The median number of days on the market for condominiums sold in September was 59 days, an increase of 28.3 percent compared to the same period in 2013. The average sales price was 93.9 percent of the asking price, a decrease of 2.9 percent. “While greater supply is creating more opportunities for buyers, particularly for condominiums, lack of financing for condominiums and new construction sales are impacting existing sales,” said 2014 MIAMI Association of REALTORS Residential President Francisco Angulo. “The Miami real estate market remains very competitive depending on neighborhood, price point and property type.”
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