June 21, 2017
May of this year was a record-breaking month for single-family home sales in Miami. The single-family home market had its best May in history, with total home sales, dollar volume, median prices, traditional sales and luxury home sales all increasing in May, according to a recent report by the MIAMI Association of REALTORS and the Multiple Listing Service.
In May, 1,344 single-family homes sold in Miami-Dade County - the most of any May in history and a 9.9-percent increase over May of last year. Single-family luxury home sales increased by 23.5 percent (May also marked the third consecutive month of increases). Existing condo sales in Miami increased 5.7 percent. In all, total existing residential sales in the county increased 7.7 percent on a year-over-year basis.
In addition to the impressive sales data, the median price for all Miami properties increased, with real estate in Miami also selling closer to the asking price.
For the most comprehensive information on South Florida luxury real estate, contact award-winning broker Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: The Next Miami
