As of late December, Miami real estate records were set to break. 2015 was expected to break all-time annual sales of single-family homes. Miami-Dade County most likely broke the record for the fifth consecutive year. A report by the Miami Association of Realtors and Multiple Listing Service System expects the record to break again especially after a strong November. Prices rose and sales were quick at the end of 2015.
Through December 2015, there were 12,857 single-family home sales. Last year’s record was 13,521. Miami is popular, growing, and its real estate continues to be a hit among buyers.
“A fifth-consecutive record year for single-family home transactions is a testament to the vitality and allure of Miami real estate,” said Christopher Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI. “International and domestic buyers want to invest and live in one of the world’s top global cities. Miami existing condominiums are also on pace for a historic sales year despite an increase in competition from new construction properties.”
Single-family home sales is just one of the Miami real estate records set to break. By the last few months of 2015, existing condominium sales were paced to be the third best year of all time. Through November, there had been 14,770 existing condominium transactions. The number one record is 17,142 from 2014. It is especially impressive for 2015 to be setting records considering many pre-construction condo sales.
Miami real estate from the last year is strong, healthy, and breaking records. In 2015, real estate in the Miami area was selling faster and closer to the original list price. The median number of days on the market for Miami single-family homes fell 19.1 percent to 38 days in November 2015 from 47 days in November 2014.
Miami has so much to offer for any type of buyer. There are great investments in commercial buildings, single-family homes in fantastic neighborhoods, and new or existing condos. RE/MAX Paradise can help you find the perfect home or piece of property!