Market Conditions for Miami, Florida Reported by Michael Sahlman, REALTOR, e-PRO Updated February 10, 2010.

Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

829 homes and condos sold in April with sales prices that were 89% of asking price. The average sales price was $510,000 and the median price was $280,000 and stayed on the market for 128 days. Call 1-800-639-3520 Ext. 9009 for Free Reports on Miami (our 24-hour recorded info line).
There are currently 42,620 condos and homes for sale in Miami-Dade County. Inventory levels continue to rise with many new condos being completed. Look for these inventory levels to continue rising for another 12 months. January 2008 was the worst month in many years for sales in this area. Sales have increased about 12% since the beginning of the year, but are still down 44% from a year ago. The good news is that pending sales (units in contract) have increased almost 100% since December 2007, however, this is still 1% lower than a year ago.
For customized, detailed reports and research from one of the leading real estate experts in the area, please do not hesitate to contact Michael Sahlman at the toll free number at 1-800-639-3520 Ext. 9009 or call directly at 786.553.0697. He can be emailed me at Info@HomesForVIPs.com. These reports show recent sales, available stats and facts and trends reports by zip code, area, city and/or building, and provide clients with an overall snapshot of inventory, closed sales, avg. sales price, sale price compared to list price, days on market and months of inventory.
Miami continues to be a very attractive area for investing as long as you can hold your property for at least 3 to 5 years, you should be fine. Waterfront property, especially, will continue to be the best investment. Resort areas like Miami and Miami Beach are always in high demand and will continue to attract baby boomers, snowbirds, investors, celebrities, buyers and foreign buyers. The dollar is very weak in Europe, so look for increased investment from there as well as other foreign countries where there is political unrest and unstable economies (i.e. South America). There are few major cities in the U.S. that have the appeal, and its location is easily accessible from South America and Europe. Property prices are low (in some cases less than half) when compared to other major cities in the U.S. like New York, Washington D.C., Chicago, San Francisco, Los Angeles and San Diego.
For those that are interested, I have assembled a list of what I consider to be the best values in each of the major neighborhoods in and around Miami. These are condos and homes where the prices are very reasonable and the potential for appreciation is greatest in my opinion. These areas are less prone to major drops in prices.
For more information, please feel free to email me your requests at Info@HomesForVIPs.com, or call directly at 786.553.0697. For detailed Reports and Free Recorded information 24-hours a day about the Miami market, call 1-800-639-3520 Ext. 9009.



Location Characteristics: Miami is the Magic City for many reasons. Perfectly located as a resort and business destination for many South Americans, this city has become one of the major international destinations of the world. Europeans, Canadians and people from all over the world are attracted to this tropical city surrounded by nature and water.

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