Miami residential Market Update for May 2020


Market Focus - The Premier resource for currect real estate information, statistics and market conversations with buyers and sellers
Miami Single Family HomesMay 2020May 2019% Change Year-over-Year
Closed Sales7341,355-45.8%
% Paid in Cash16.2%23.2%-30.0%
Median Sale Price$375,714$360,0004.4%
Dollar Volume$400,286,900$715,961,675-44.1%
% of Original List Price Received96951%
Median Time to Contract4459-25.4%
Median Time to Sales90107-15.9%
Active Inventory5,6656,759-16.2%
Months Supply of Inventory5.46.3-14.3%
Miami Townhomes & CondosMay 2020May 2019% Change Year-over-Year
Closed Sales5631,441-60.9%
% Paid in Cash38.5%48.4%-25.5%
Median Sale Price$260,000$243,0007.0%
Dollar Volume$231,705,465$585,172,808-60.4%
% of Original List Price Received93930%
Median Time to Contract6078-23.1%
Median Time to Sales109118-7.6%
Active Inventory14,70515,893-7.5%
Months Supply of Inventory13.8140.7%
Monthy-Market-Stats-bars.png

Guillermo "Bill" Sanjurjo Realtor® 
https://guillermo.realtor
 12955 SW 42 St Suite 2, Miami, FL 33175
 Cell: 786-232-1400

Comments

Post a Comment

Your comments are always welcomed and appreciated. Thank you.

Popular posts from this blog

Challenges for Miami Homebuyers

Image
Navigating the New Real Estate Landscape:  Challenges for Miami Homebuyers Miami Homebuyers Facing Obstacles The real estate market in Miami has become increasingly challenging for homebuyers. Over the past few years, housing prices have skyrocketed, while mortgage interest rates have risen to unexpected levels. Unfortunately, wages haven’t kept pace with inflation, making it more difficult for many to afford their dream home. As if these challenges weren’t enough, new rules from the National Association of Realtors (NAR) are set to change how commissions are handled in real estate transactions, adding another layer of complexity for buyers. The Impact of the NAR Settlement Rules Beginning this Saturday, real estate agents listing homes on the Multiple Listing Service (MLS), a widely used database for agents, will no longer be allowed to advertise any compensation to buyer's agents. Previously, it was common for sellers to pay commissions to real estate agents on both sides of the ...
Read more

Know your rights under mortgage payment forberance

Image
Photo by  Andrea Piacquadio  from  Pexels To combat ongoing misinformation, the Federal Housing Finance Agency (FHFA) reiterated that borrowers in forbearance with a  Fannie Mae or Freddie  Mac-backed mortgage are not required to repay the missed payments in one lump sum. According to the McDash Flash Forbearance Tracker from  Black Knight , as of April 23, 2020, more than 3.4 million homeowners, or 6.4% of all mortgages, have entered into COVID-19 mortgage forbearance plans. “During this national health emergency, no one should be worried about losing their home," said Director Mark Calabria. “No lump sum is required at the end of a borrower's forbearance plan for Enterprise-backed mortgages. To help homeowners navigate the forbearance process, FHFA partnered with CFPB on the Borrower Protection Program to provide homeowners accurate information about forbearance and address concerns noted in some consumer complaints. While today's statement only ...
Read more