As with many other areas of the country, real estate agents in southern Florida had a busy month during April.
Public property records and recent reports from the Miami Association of Realtors showed single-family home sales in the metropolitan area improved 15.2 percent on a year-over-year basis last month. A considerable increase in luxury condominiums was also exhibited during April, as million-dollar condo unit sales hiked 61.3 percent from April 2012 numbers. The increase observed in sales for the southern part of the Sunshine State also marked the fifth straight month of price appreciation for the region, as well.
Statewide, a total of 20,662 existing houses were sold in April, representing a 17.4 percent uptick from figures recorded the preceding year, Florida Realtors reported. Pending transactions were seen rising as well, with the total number of houses put under contract having improved 31.9 percent on an annual basis.
As mortgage records continue to benefit buyers and bolstering home prices advantage sellers, Florida-based Realtors could see significant strengthening in the coming months.
"In another positive sign for Florida's housing market, sellers received over 93 percent of their original listing price in April, whether they were selling a single-family home or a condo," said Dean Asher, president of Florida Realtors. "Now is a good time for sellers who have been waiting on the sidelines to enter the market."