Where is Miami’s Real Estate Inventory?

by Isaac Benmergui, Esq on November 8, 2012

With market prices on the rise across the board in Miami real estate, residential and commercial realtors are pulling their hair out at the lack of inventory. Homeowners and commercial property owners are sitting on their deeds and simply not listing their properties, even though realtors are certain there are sales to be made.

Although prices are definitely on the upswing, they are certainly not at pre-housing bust levels and potential sellers seem determined to wait out the market until prices are not only back to normal, but become profitable. Market experts warn that in some areas, sellers may have to wait until 2017 for prices to rise to 2006 levels. While realtors salivate for new listings, they sell on average 250 units every 30 days and referee the bidding wars that ensue until inventory levels rise again.  There’s nothing to say sellers won’t get the price they want, the bidding wars take care of that.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs from negotiating commercial property sales to representation at closing; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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