Top Local Miami Real Estate Expert! Welcome to Sunny Isles Beach Broker™, your premier real estate resource and real estate experts for Aventura, Sunny Isles Beach, Golden Beach, Bal Harbour, North Miami Beach, Miami Beach (South Beach) and Downtown Miami real estate.  If you own real estate that you're thinking of selling, I would be happy to provide you with a FREE Home Evaluation.
In today's competitive real estate market, timing is everything. Many good, well-priced homes are sold to foreign investors before they are ever advertised locally. Beat other homebuyers to the hottest new condos and houses for sale in Weston, Williams Island, Hallandale Beach, Hollywood Beach, Davie, Fort Lauderdale, Surfside and Brickell with our New Listings Notification and Auto Home Finder. Sales of existing homes in Florida rose 27 percent in April, which means that sales activity has increased in the year-to-year comparison for 20 months, according to the latest housing data released by Florida Realtors®. Another positive sign: Last month’s statewide existing-home median price of $140,100 was 1 percent higher than the statewide median price in April 2009. Existing home sales rose 27 percent last month with a total of 16,781 homes sold statewide compared to 13,244 homes sold in April 2009, according to Florida Realtors. Statewide existing home sales last month increased nearly 3 percent over statewide sales activity in March. Meanwhile, April’s statewide existing-home median price was 2.3 percent higher than March’s statewide existing-home median price of $137,000. It marks the second month in a row that the statewide existing-home median price has increased over the previous month’s median. Florida Realtors also reported a 55 percent increase in statewide sales of existing condos in April compared to the previous year’s sales figure; statewide existing condo sales last month rose 2 percent over the total units sold in March. Though April’s statewide existing-condo median price of $103,600 was down 3 percent compared to the year-ago figure, it was 6.9 percent higher than March’s statewide existing-condo median price. 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. 
NAR’s latest outlook predicts a surge in latespring home sales. “Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb distressed properties reaching the market and to continually chip away at inventory levels,” said NAR Chief Economist Lawrence Yun. “If there is sufficient job creation, housing can become self-sustaining with stable to modestly rising home prices.” Interest rates for a 30-year fixed-rate mortgage averaged 5.10 percent in April, up from the average rate of 4.81 percent during the same month a year earlier, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are written.  Research shows that the typical Florida homeowner intends to hold their property for 10 years. Long-term homeowners continue to have the benefit of price appreciation, as well as a benefit that simply can’t be measured – a place to raise their families, make memories and enjoy their lives. A place to call home. And now, more than ever, consumers can rely on the expertise of Brosda & Bentley Realtors™ to help them meet the challenges of today’s marketplace, whether they’re looking for a home or the perfect place for a new business.”
In Florida’s median sales price for existing homes last month was $140,100; a year ago, it was $138,100 for a 1 percent gain. 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 March 2010 was $170,700, up 0.6 percent from a year earlier, according to the National Association of Realtors® (NAR). In California, the statewide median resales price was $301,790 in March; in Massachusetts, it was $280,000; in Maryland, it was $235,785; and in New York, it was $209,900. According to NAR’s latest outlook, two trends are influencing a broader stabilization of home prices in housing markets across the nation: months of increased sales activity and lower levels of inventory. “Foreclosures have been feeding into the inventory pipeline at a fairly steady pace and are being absorbed manageably,” said NAR Chief Economist Lawrence Yun. “With home values stabilizing, a revival in homebuying confidence will likely help the housing market get back on its feet even as the tax credit impact disappears.” In Florida’s year-to-year comparison for condos, 7,291 units sold statewide last month compared to 4,703 units in April 2009 for an increase of 55 percent. The statewide existing condo median sales price last month was $103,600; in April 2009 it was $107,200 for a 3 percent decrease. The national median existing condo price was $170,600 in March, according to NAR. The inventory of listings in Miami-Dade County according to the Southeast Florida Multiple Listing Service has dropped more than 42.5 percent in the last 19 months - from 43,095 to 24,792. In downtown Miami approximately 87% of the 16,415 occupied condo units are filled with full-time residents. Downtown Miami’s population growth is fueling a dramatic surge in commercial and retail activity, with 42 new net retail businesses opened in Downtown Miami in 2009, marking the third straight year that the district has seen 40 or more new net retail outlets open. Downtown Miami’s retail vacancy rate of 5.06% is among the five lowest in the nation.
Whether you are buying or selling a home, we are Miami's Top Local Real Estate Expert. I invite you to contact us as we'd be happy to assist you with this important transaction. In addition, if you have any general questions about buying or selling real estate in Florida, please contact us a knowledgeable real estate consultant will be happy to assist you. Please browse this website for listings, reports and important local real estate information.
Sincerely,
Katerina Brosda, Broker
Brosda & Bentley Realtors™ |