2015 Sales of Single-Family Homes

During each of the past 4 years sales of single-family homes have increased. Sales n Miami-Dade in 2015 may surpass the 12,857 of sales of 2014. The median sales price for a single-family home in Miami-Dade increased 12.2% through November.  In Broward that increase is 8.6%. Sales of single-family homes and condos in Miami-Dade have slowed, reflecting the significant decrease in foreign buyers due to weakening economies of the Latin American and European countries and the decrease in the value of the Canadian dollar. Broward County is less reliant on international buyers. In Miami-Dade County the average supply of homes during the past 3 months is 7.5 months. In Coconut Grove the increased number of homes on the market in November has raised the average to a 4.8 month supply. In Pinecrest the 3 month supply average is 10.1 months. In Coral Gables the 3 month supply average is 9.7 months. A balanced market is 6-9 months of inventory on the market.