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Luxury Home Sales in Miami on Fire
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You're Now Reading:
Luxury Home Sales in Miami on Fire
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Luxury Home Sales in Miami on Fire
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August 1, 2011 (Shirley Allen)

Sales of new and resale homes in Miami climbed up 1.4 percent from May to June, but sales of luxury homes shot up 21.2 percent from May and sales for the first six months of this year are 13.4 percent higher than during the same period last year according to the latest data released from DataQuick.

A total of 9,857 new and resale houses and condos closed escrow in the Miami-Dade, Palm Beach and Broward counties area in June. Sales were 1.4 percent higher than May and were 6.0 percent higher than June of 2010.

Home sales in the region typically increase 6.7 percent between May and June. Home sales were 20.7 percent lower than Miami’s average June sales rate of 12,427, but were the highest total for the month of June since 2007.

New home sales, like many regions in the country, remained at depressed levels. A total of 526 new homes closed escrow in June, 1.5 percent above May’s levels, but 9.0 percent lower than June of 2010. Sales of new homes were at their lowest level on record for the area in June.

Cash buyers were responsible for 64.2 percent of the purchases in June, which was down from 64.9 percent in May, but up from 56.9 percent a year earlier. The record for cash purchases was in March 2011, when 68.6 percent of the sales were for cash.

Absentee buyers, usually investors and vacation home buyers, accounted for 37.1 percent of all homes sold in June. The prices they paid were also less than previous months with the median price paid in June being $90,700, which was down from $98,000 in May and down from $105,000 in June of 2010.

Foreign buyers made up nearly 6.5 percent of all purchases in June. The median price paid by foreign purchasers for condos was $110,000, while the median price paid for single-family homes was $165,000.

Out of all the foreign buyers who had an identifiable address, 76 percent had an address in Canada.

The overall median price paid for new and resale homes and condos in June was $135,000, which was down 1.5 percent from May, and down 10.0 percent from June of last year. The median home price is 53.4 percent below the peak median price of $290,000 in June 2007.

Miami’s multi-million dollar luxury market remained hot. Sales of houses and condos for $2 million or more were up 21.2 percent from May and up 27.2 percent from June of last year. Muy caliente!

Tags: DataQuick, existing home sales, Miami, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
Data Quick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
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August 1, 2011 (Shirley Allen)

Sales of new and resale homes in Miami climbed up 1.4 percent from May to June, but sales of luxury homes shot up 21.2 percent from May and sales for the first six months of this year are 13.4 percent higher than during the same period last year according to the latest data released from DataQuick.

A total of 9,857 new and resale houses and condos closed escrow in the Miami-Dade, Palm Beach and Broward counties area in June. Sales were 1.4 percent higher than May and were 6.0 percent higher than June of 2010.

Home sales in the region typically increase 6.7 percent between May and June. Home sales were 20.7 percent lower than Miami’s average June sales rate of 12,427, but were the highest total for the month of June since 2007.

New home sales, like many regions in the country, remained at depressed levels. A total of 526 new homes closed escrow in June, 1.5 percent above May’s levels, but 9.0 percent lower than June of 2010. Sales of new homes were at their lowest level on record for the area in June.

Cash buyers were responsible for 64.2 percent of the purchases in June, which was down from 64.9 percent in May, but up from 56.9 percent a year earlier. The record for cash purchases was in March 2011, when 68.6 percent of the sales were for cash.

Absentee buyers, usually investors and vacation home buyers, accounted for 37.1 percent of all homes sold in June. The prices they paid were also less than previous months with the median price paid in June being $90,700, which was down from $98,000 in May and down from $105,000 in June of 2010.

Foreign buyers made up nearly 6.5 percent of all purchases in June. The median price paid by foreign purchasers for condos was $110,000, while the median price paid for single-family homes was $165,000.

Out of all the foreign buyers who had an identifiable address, 76 percent had an address in Canada.

The overall median price paid for new and resale homes and condos in June was $135,000, which was down 1.5 percent from May, and down 10.0 percent from June of last year. The median home price is 53.4 percent below the peak median price of $290,000 in June 2007.

Miami’s multi-million dollar luxury market remained hot. Sales of houses and condos for $2 million or more were up 21.2 percent from May and up 27.2 percent from June of last year. Muy caliente!

Tags: DataQuick, existing home sales, Miami, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
Data Quick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

August 1, 2011 (Shirley Allen)

Sales of new and resale homes in Miami climbed up 1.4 percent from May to June, but sales of luxury homes shot up 21.2 percent from May and sales for the first six months of this year are 13.4 percent higher than during the same period last year according to the latest data released from DataQuick.

A total of 9,857 new and resale houses and condos closed escrow in the Miami-Dade, Palm Beach and Broward counties area in June. Sales were 1.4 percent higher than May and were 6.0 percent higher than June of 2010.

Home sales in the region typically increase 6.7 percent between May and June. Home sales were 20.7 percent lower than Miami’s average June sales rate of 12,427, but were the highest total for the month of June since 2007.

New home sales, like many regions in the country, remained at depressed levels. A total of 526 new homes closed escrow in June, 1.5 percent above May’s levels, but 9.0 percent lower than June of 2010. Sales of new homes were at their lowest level on record for the area in June.

Cash buyers were responsible for 64.2 percent of the purchases in June, which was down from 64.9 percent in May, but up from 56.9 percent a year earlier. The record for cash purchases was in March 2011, when 68.6 percent of the sales were for cash.

Absentee buyers, usually investors and vacation home buyers, accounted for 37.1 percent of all homes sold in June. The prices they paid were also less than previous months with the median price paid in June being $90,700, which was down from $98,000 in May and down from $105,000 in June of 2010.

Foreign buyers made up nearly 6.5 percent of all purchases in June. The median price paid by foreign purchasers for condos was $110,000, while the median price paid for single-family homes was $165,000.

Out of all the foreign buyers who had an identifiable address, 76 percent had an address in Canada.

The overall median price paid for new and resale homes and condos in June was $135,000, which was down 1.5 percent from May, and down 10.0 percent from June of last year. The median home price is 53.4 percent below the peak median price of $290,000 in June 2007.

Miami’s multi-million dollar luxury market remained hot. Sales of houses and condos for $2 million or more were up 21.2 percent from May and up 27.2 percent from June of last year. Muy caliente!

Tags: DataQuick, existing home sales, Miami, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
Data Quick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.