Miami to Break Single Family Homes Record for 5th Consecutive Year
Miami Set to Break Single-Family Home Sales Record for Fifth Consecutive Year Existing Condominiums on Pace for Third-Best Year of All-Time
The Miami-Dade County real estate market is on pace to break its all-time annual single-family home sales record for the fifth consecutive year after a solid November highlighted by rising median prices and faster sales, according to a new report by the 41,000-member MIAMI Association of Realtors® and Multiple Listing Service (MLS) system.
The Miami-Dade market has registered 12,857 single-family home sales through the first 11 months of 2015, putting the market on pace to eclipse the all-time annual single-family sales record of 13,521, established last year.
Miami-Dade County existing condominiums are also on pace for a banner year despite a rise in pre-construction condo sales east of Interstate-95. With a total of 14,770 existing condo transactions this year through November, the market will likely finish with the third-most sales in Miami history. 2013 holds the record with 17,142 existing condo sales, followed by the 16,409 sales in 2014.
“A fifth-consecutive record year for single-family home transactions is a testament to the vitality and allure of Miami real estate,” said Christopher Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI. “International and domestic buyers want to invest and live in one of the world’s top global cities. Miami existing condominiums are also on pace for a historic sales year despite an increase in competition from new construction properties.”
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