This summary is based on the December 2015 report issued by the Miami Association of Realtors.
Miami is the number one city searched by International buyers, including buyers from Brazil, Venezuela, Argentina, Colombia, Russia, India, and Canada with Canada, China, India, and Mexico having the highest number of buyers investing. There are also many national buyers searching for properties in Miami. These buyers are predominantly from the states of California, Texas, Georgia and New York.
Miami Dade
- The single family median sales price was $279,000, which shows an increase of 9.4% .
- The median sales price for condos was $207,400 an increase of 6.4%.
- The inventory in December 2015 was 5.2 months in single family homes, and 9.5 in condos.
- Compared to the 24% national cash sales, Miami Dade ranked higher with approximately 48.7% cash sales of which 33.8% were single family and 62.4% were condos.
Broward
- The single family median sales price was $305,000, which shows an increase of 7%.
- The median sales price of condos was $131,000, showing a reduction of – 0.4%.
- It took 38 days on average to sell single family homes, and 47 days for a condo.
- 48.5% were cash sales.
