Miami Cash Buyers Twice National Average - WORLD PROPERTY JOURNAL Global News Center

 

Miami Real Estate Continues Selling Fast, Close to List Price
Miami single-family homes and condominiums continue to sell close to asking price, reflecting a strong consumer demand. The median number of days on the market for single-family homes remained unchanged year over year at 47 days. The average percent of original list price received was 95 percent, an increase of 0.7 percent from a year earlier.
The median number of days on the market for condominiums sold in May 2015 was 57 days, an increase of 7.5 percent from 53 days in May 2014. The average percent of original list price received was 94.1 percent, a 0.2 percent decrease.

Miami Cash Buyers Twice National Average - WORLD PROPERTY JOURNAL Global News Center

Miami Cash Buyers Twice National Average - WORLD PROPERTY JOURNAL Global News Center

 

Miami's Cash Buyers Represent More than Twice the National Average
Cash deals represented 49.5 percent of Miami's total closed sales in May 2015, more than double the national average. Just 24 percent of all national housing sales are made in cash, according to NAR. Cash transactions represented 56 percent of total Miami deals in May 2014. Miami's high percentage of cash sales continues to reflect South Florida's historic ability to attract international home buyers, who tend to purchase properties in all cash.
Condominiums comprise a large portion of Miami's cash purchases as 63.9 percent of condo closings were made in cash in May compared to 33.2 percent of single-family home sales.

Miami Cash Buyers Twice National Average - WORLD PROPERTY JOURNAL Global News Center