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Miami Home Prices Improve for Third Consecutive Month
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You're Now Reading:
Miami Home Prices Improve for Third Consecutive Month
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:
Miami Home Prices Improve for Third Consecutive Month
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May 17, 2012 (Shirley Allen)

Home sales in the Miami area followed seasonal trends and increased substantially from February to March but still couldn’t match last year’s tally, while year-over-year home prices improved for the third consecutive month, according to the latest housing data released by DataQuick.

A total of 9,541 new and resale homes and condos closed escrow in the Miami-Dade, Palm Beach and Broward counties area in March. Sales were 24.0 percent higher than the 7,693 homes sold in February but were still 6.9 percent lower than the 10,245 homes sold in March of 2011.

Home sales in the region typically increase 30.9 percent between February and March and were 16.5 percent lower than Miami’s average March sales rate of 11,429.

New home sales in Miami were 5.2 percent higher than a year ago but were still 72.3 percent below average while sales of existing homes were 3.8 percent below their historical average.

Cash buyers accounted for 67.6 percent of the purchases in March, which was down from a record 68.7 percent in February and 68.2 percent a year ago. Some cash buyers use alternative financing arrangements but at the time of purchase there was no indication of a purchase loan recorded.

The price that cash buyers paid for the homes they purchased in March fell to $100,000 from $105,000 in February but was up from $86,000 in March of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 41.8 percent of all homes sold in March paying a median average price of $95,000, down from $102,000 in February but up from $81,500 in March of 2011. Just over seven percent of the absentee buyers had a mailing address outside of Florida or from a foreign country.

The overall median price paid for new and resale homes and condos in March was $134,950, which was down slightly from $135,000 in February but was up from $120,000 in March of last year.

The median home price is 53.5 percent below the peak median price of $290,000 in June 2007. It was the third consecutive month that year-over-year prices have increased after falling for the previous 52 consecutive months.

Miami’s multi-million dollar luxury market was unchanged from last year, but sales of houses and condos for $2 million or more were 34.5 percent higher than in February.

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

Source:
DataQuick

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.
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LOANRATEUPDATE
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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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Tips
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Tips
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Calculator
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Rates

May 17, 2012 (Shirley Allen)

Home sales in the Miami area followed seasonal trends and increased substantially from February to March but still couldn’t match last year’s tally, while year-over-year home prices improved for the third consecutive month, according to the latest housing data released by DataQuick.

A total of 9,541 new and resale homes and condos closed escrow in the Miami-Dade, Palm Beach and Broward counties area in March. Sales were 24.0 percent higher than the 7,693 homes sold in February but were still 6.9 percent lower than the 10,245 homes sold in March of 2011.

Home sales in the region typically increase 30.9 percent between February and March and were 16.5 percent lower than Miami’s average March sales rate of 11,429.

New home sales in Miami were 5.2 percent higher than a year ago but were still 72.3 percent below average while sales of existing homes were 3.8 percent below their historical average.

Cash buyers accounted for 67.6 percent of the purchases in March, which was down from a record 68.7 percent in February and 68.2 percent a year ago. Some cash buyers use alternative financing arrangements but at the time of purchase there was no indication of a purchase loan recorded.

The price that cash buyers paid for the homes they purchased in March fell to $100,000 from $105,000 in February but was up from $86,000 in March of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 41.8 percent of all homes sold in March paying a median average price of $95,000, down from $102,000 in February but up from $81,500 in March of 2011. Just over seven percent of the absentee buyers had a mailing address outside of Florida or from a foreign country.

The overall median price paid for new and resale homes and condos in March was $134,950, which was down slightly from $135,000 in February but was up from $120,000 in March of last year.

The median home price is 53.5 percent below the peak median price of $290,000 in June 2007. It was the third consecutive month that year-over-year prices have increased after falling for the previous 52 consecutive months.

Miami’s multi-million dollar luxury market was unchanged from last year, but sales of houses and condos for $2 million or more were 34.5 percent higher than in February.

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

Source:
DataQuick

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.

May 17, 2012 (Shirley Allen)

Home sales in the Miami area followed seasonal trends and increased substantially from February to March but still couldn’t match last year’s tally, while year-over-year home prices improved for the third consecutive month, according to the latest housing data released by DataQuick.

A total of 9,541 new and resale homes and condos closed escrow in the Miami-Dade, Palm Beach and Broward counties area in March. Sales were 24.0 percent higher than the 7,693 homes sold in February but were still 6.9 percent lower than the 10,245 homes sold in March of 2011.

Home sales in the region typically increase 30.9 percent between February and March and were 16.5 percent lower than Miami’s average March sales rate of 11,429.

New home sales in Miami were 5.2 percent higher than a year ago but were still 72.3 percent below average while sales of existing homes were 3.8 percent below their historical average.

Cash buyers accounted for 67.6 percent of the purchases in March, which was down from a record 68.7 percent in February and 68.2 percent a year ago. Some cash buyers use alternative financing arrangements but at the time of purchase there was no indication of a purchase loan recorded.

The price that cash buyers paid for the homes they purchased in March fell to $100,000 from $105,000 in February but was up from $86,000 in March of last year.

Absentee buyers, usually investors and vacation home buyers, accounted for 41.8 percent of all homes sold in March paying a median average price of $95,000, down from $102,000 in February but up from $81,500 in March of 2011. Just over seven percent of the absentee buyers had a mailing address outside of Florida or from a foreign country.

The overall median price paid for new and resale homes and condos in March was $134,950, which was down slightly from $135,000 in February but was up from $120,000 in March of last year.

The median home price is 53.5 percent below the peak median price of $290,000 in June 2007. It was the third consecutive month that year-over-year prices have increased after falling for the previous 52 consecutive months.

Miami’s multi-million dollar luxury market was unchanged from last year, but sales of houses and condos for $2 million or more were 34.5 percent higher than in February.

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

Source:
DataQuick

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.