South Florida Real Estate Market

The sales prices of existing houses and condominiums in South Florida real estate market in the second quarter of this year. But the amount of the increase is not as much as sellers had hoped. However, in the last year, cumulative sales of South Florida real estate plunged, according to the Florida Association of Realtors statistics. Housing analysts positive about the strength of the real estate market of South Florida, butThe current trend seems to indicate that the company's South Florida market experienced a real drop. The figures show that sales at home counties have fallen by 30% of Miami-Dade, Broward and Palm Beach. Condo sales in general has declined, from 44% in Palm Beach County, Broward 33% and 23% of Miami-Dade.

Although the rate of decline of house sales agreed, the median price continues to gain momentum upward. In Broward, the median homePrices are up 2% over the same period last year. A Miami-Dade, the jump more spectacular than the average price increased by 8%. Only Palm Beach County experienced a slight improvement as the median sales price only the numbers from 1% over the previous year.

South Florida Real Estate House prices rose slightly year has increased slightly in the second quarter of this. average sales price for condominiums of Broward, an increasesignificant 10%, 8% Palm Beach County and Miami-Dade's by 3%.

Overall price increases for both houses and apartments in South Florida real estate these were much smaller, in fact, has been in previous quarters, for the year compared with prices last year has regularly won 30% or more. The current picture of the real estate market of South Florida is clearly in contradiction with the conditions of two years ago, the real estate market has experienced rapid growth in the registration of aA record year in terms of closings and average price for sales of existing single-family homes. By the end of Florida came up to 250,000 annual sales mark reached Florida Association of Realtors (R) (FAR), sold with a total area of 242,234 homes - an increase of 11 percent of the homes sold 218 739 'year.

Sales are slow because the resulting inventory of unsold homes on the market. The rapid rise in prices combined with rising insurancepremiums and property taxes over the past five years property has retained many potential customers to buy real estate in South Florida. The fall in demand caused by these preventive as well as some sellers are desperate, using at greatly reduced prices and sale requires also offered to hold the attention for buyers and their agents.

These trends are consistent with what is observed not only the entire state of Florida, but alsoat national level. For the entire state of Florida, home sales fell 27 percent in the second quarter, while the average price by 9% to $ 254,800. Revenues declined in all cities in Florida. Condo sales dropped 33%, and the median income, the price rose 1% to $ 217,900. Nationally, home sales decreased by 7% in the second quarter of this year.