Miami Home Sales Statistics

Miami home sales are suffering according to the latest statistics. This past October there were 15,422 single family homes for sale in Dade County, according to information supplied by the Coral Gables, Homestead-South Dade, Kendall-Perrine, and Northwestern Association of Realtors or their MLS. Only367 homes sold during that period. In contrast, in October of 2006, when home sales were already under heavy pressure, there were 11,103 single family homes for sale, with 826 closed sales. The statistics are alarming. There is more, because we also should take the condo market into consideration. This past October saw 25,267 condos on the market for sale in Dade County, of which the City of Miami is a large part, with 406 closed sales. In contrast, just one year earlier, in October of 2006, there were 18,974 condos on the market for sale, with 907 sales. It looks like things are beginning to bottom out in the Miami area. Buyers should be focusing in on making great deals right now, and picking up properties they could have never bought just a few years ago.