Colli Real Estate

Miami Real Estate takes the time summer vacation to flood the market

Homes in Miami is in summer, as more listings are flooding the market this July. Prices have fallen, contrary to popular belief of some sellers who will not climb nowhere in the foreseeable future.

The most affected is the condo market, with stories of increasingly entering the market for sale each month, and fewer sales. Many buyers who have invested in pre-construction projects were either able to close on condos they bought, or had incur losses to remain solvent.

Most investors have long abandoned the fantasy of buying condos and turning a profit fast. Those days are gone and unlikely to return for a moment in the future. All this is not a bad thing, however, due to correction was necessary Although some real estate experts thought it would last as long as she did.

The real estate Miami is even more desirable real estate in the world, and the purchase of properties in Miami is now a great idea, if you buy a house or condo living, or if you are looking for a long term investment. The buyers of the Miami area are in the best position they have been over the years to purchase goods at reasonable prices and make offers well below asking price, and then conclude agreements on properties that have never been able to buy a couple of years.

To see how things have changed, just look at the statistics. According to Data provided by the Coral Gables, Homestead-South Dade, Kendall-Perrine, and the Northwest Association of Realtors or their MLS.

In March 2006, there were 7703 houses single-family homes for sale in Dade County, which includes Miami, and 1116 homes sold. According to the latest statistics available.

In May 2007, there were 13,403 Dade houses for sale and 612 homes sold. The condominium market was similar.

In March last year, there were 14,761 apartments Dade for sale, and sold 1371. In May this year, there were 24,417 apartments / houses in the city for sale in Dade, with only 785 apartments sold. Foreclosures in Miami-Dade County are high, with 987 auctions of residential first quarter of this year.

This translates into 127 entries for 1000 homes. The good news is that properties in Miami is becoming more affordable, and the dollar is so weak against the euro and other currencies, foreigners coming to Miami for the holidays, always present in both homes and condominiums to be an investment in the very long term. For more information, go to www.alexshay.com

About the Author

Alex Shay is a prominent Miami Beach real estate broker, whose award winning website (Miami Real Estate) features some of the most beautiful residential real estate in all of the world.

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