Miami Home Sales Volume and Price Grew in 2018

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Miami-Dade County reported 12,931 single-family home sales in 2018, up 1.1% from 2017, according to the MIAMI Association of Realtors and the Multiple Listing Service (MLS) system.

This figure ranks 2018 as the fourth highest year in county history for the sale of single-family homes; according to the report, only in 2014, 2015 and 2016 did Miami see more single family home sales (the Miami Association of Realtors and the MLS have been tracking these figures since 1994).

Existing condo closings increased 5.6% to 13,863 in 2018, marking the sixth best sales year in history despite competition from the new construction condo boom.

Total residential sales volume jumped 10.7% to $12.4 billion, up from $11.2 billion in 2017.

According to the report, lack of supply in certain price ranges and neighborhoods as well as higher interest rates impacted sales.

Other notable takeaways from the report include:

  • The $300,000 to $600,000 range proved to be the most popular price point for Miami single-family homes in 2018, posting a 15.7% increase in sales year-over-year, increasing from 5,448 sales in 2017 to 6,303 in 2018.
  • The luxury segment ($1 million+) also proved to be a hot sector for single-family homes, increasing 15.9% in 2018 from 878 to 1,018 sales.
  • In 2018, cash deals represented 37.8% of Miami’s total closed sales, a decrease from 40.4% in 2017 (51.3% of  all condo closings were made in cash, while 23.3% of all single family home sales were cash deals).

Read the full report here.

Tonight – Don’t Miss Avatar’s Summer Twilight Tour!

Don’t miss Avatar’s Summer Twilight Tour TONIGHT, August 11, 2015!  From Coconut Grove to Coral Gables and Ponce-Davis to Pinecrest, our twilight open house tour will feature an array of  luxury properties in some of Miami’s most coveted neighborhoods!

I will be holding an open house at my beautiful townhouse listing in Center Coconut Grove at 3103 Oak Avenue, from 5pm-7pm!  Stop by for lemonade and cookies and enjoy a tour!

Check out all of the homes on the open house tour, below.  See you tonight!

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Rented in One Week: Large Family Home in Pinecrest!

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5900 SW 114 Terrace | 4 bedrooms/4 bathrooms | 3,219 sf | 40,380 sf lot
Rented price: $5,250/month

When I listed this Pinecrest home for rent earlier this month, it caused an absolute frenzy.  Within minutes, my phone was ringing off the hook and my inbox was flooded with inquiries and showing requests.   A couple days later, we received multiple offers for the property and ultimately, one lucky family got the house.

The home has 4 bedrooms, 4 bathrooms, 3,219 square feet of living space and sits on a beautiful, lush, 40,380 sf lot.  The property is located on a quiet street at 114th Terrace between Red Road and 60th Ave, and is surrounded by a mix of older homes and brand new McMansions.  It rented for $5,250/month.

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Families love Pinecrest because of its neighborhood feel, beautiful parks and A-rated schools.  There is clearly high demand for these types of homes (both rentals and resales), so if you are thinking about selling or renting out your home, contact me today for a confidential discussion. You can call me at 305.799.2124 or send me an email at lindsayrubens@avatarflorida.com.