According to statistics extracted from the Southeast Florida MLS, Miami home sales continue to be sluggish. Homes and condos continue to flood the market with more listings appearing every month, accompanied by fewer sales each month. Even the luxury market, which has been somewhat insulated, has been affected by slower sales this year. In Miami and Miami Beach, 86 homes and 132 condos with closing prices of $1,000,000 and higher, sold in the first 6 months of 2008.With respect to homes and condos in Miami and Miami Beach, here are the ‘for sale’ vs. ‘sold’ statistics for the first 6 months of this year. In Miami, there are presently 475 single-family homes for sale, and there were 64 homes sold between January 1 and June 30. During the same time period, in Miami Beach, 63 homes sold, and there are 457 homes for sale.
In the condo market, there are 10,259 condos for sale in Miami, and 1,045 condominium units sold through June 30. In Miami Beach there are 3,986 condos for sale and 631 apartments were sold during the first half of this year. These statistics do not reflect homes and condos in the surrounding communities, such as Key Biscayne, Coral Gables, Bal Harbour, or Aventura.
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