Real Green Trends

Sunny Isles and Bal Harbour Condos for Sale Real Estate Market Report

Why people from all over the world come to Miami?

Because of the beach, the sun, the fun, great weather all year round.  Because it is easy to get here.

I guess that they come for these and other innumerable reasons. So, can we compare the real estate market in towns like Bal Harbour and Sunny Isles to other towns in the country or even in the State of Florida?

When I read the Real Estate Reports issued nationally I cannot understand how, these “specialists” come up with those numbers. Here in  Sunny Isles or Bal Harbour the market behaves differently.

Distressed Condos in Bal Harbour and Sunny Isles Beach - All Price Ranges

The chart above represents all distressed properties in Sunny Isles and Bal Harbour. There are 315  condos for sale either under short sale or  foreclosure  in these towns.  There are about 30 of them selling per month, and about 52  being pended on a monthly basis.

We came from 74 pended in April to 50 in June. Why? Because our season ends in June, and these figures make sense.

I have been marketing properties and servicing my clients in Sunny Isles and Bal Harbour for over 9 years now. Most of my clients come   from out of town and they contact me on a daily basis concerned about the “double dip” recession, the falling of prices and the increase in foreclosures. And I am there to dissipate their doubts by providing them the real information and actual statistics.

So, as I tell many of my clients. Do not miss out on properties you like and want to buy because you take any information you read seriously. You’d better contact your local expert and find out from real sources what is going on in your real estate market.

Florida Homes Sales spike in November 2009 – Good News!

Good News for the South Florida Real Estate Market

Florida’s existing home sales rose in November, marking 15 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors®.

According to the report from Florida Realtors, existing home sales rose 61 percent lIn Florida’s year-to-year comparison for condos, 4,889 units sold statewide last month compared to 2,320 units in November 2008 for an increase of 111 percent. The statewide existing condo median sales price last month was $104,400; in November 2008 it was $131,400 for a 21 percent decrease. The national median existing condo price was $172,900 in October 2009, according to NAR.Interest rates for a 30-year fixed-rate mortgage averaged 4.88 percent last month, a significant drop from the average rate of 6.09 percent in November 2008, according to Freddie Mac. Florida Realtors’ sales figures reflect closings, which typically occur 30 to 90 days after sales contracts are writtenast month with a total of 14,026 homes sold statewide compared to 8,694 homes sold in November 2008, according to Florida Realtors. Statewide sales of existing condos increased 111 percent last month compared to November 2008’s sales figure.

For the second month in a row, all of Florida’s metropolitan statistical areas (MSAs) reported increased existing home sales and higher condo sales in November. A majority of the state’s MSAs have reported increased sales for 17 consecutive months.

With a continued trend of increased number of sales, inventory will shrink and we will see light at the end of the Real Estate Tunnel.

What is happening in the Aventura Market in Particular? Are you interested  Sunny Isles condos, or Miami, or Brickell condos for sale? Or in Miami Beach and Bal Harbour real estate sales report? You are just one click away. Simply subscribe to the market trends report and receive them free  in your inbox.