Miami-Dade Active Listings Not Meeting Demand

by Isaac Benmergui, Esq on August 13, 2013

PondThe current active listings in Florida’s Miami-Dade County are not enough to satisfy demand for domestic and international buyers of residential properties, despite all the new and proposed construction.

In the second quarter 2013, active in Miami-Dade County totaled only 13,151. In the the current sales pace remains steady, there is roughly just under a five-month’s inventory of single-family homes and a 5.8 month’s supply of condominiums available for purchase. In the past year, the supply of properties for sale declined 15.9 percent for single-family homes, but increased 2.6 percent for condominiums.

The highest percentage of decreases in available properties were for residences listed below $200,000. Listed properties listed of $50,000 or below declined by 63.5 percent, and listings between $50,000 and $100,000 decreased 37.6 percent.

Developers are selling out available units before construction is even finished with buyers simply going off blueprints to purchase their new dwellings.

Getting Legal Help

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

 

 

 

Previous post:

Next post: