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| August 10, 2009 | Miami, Fla., |   |
| In Southeast Florida, All Price Ranges Show Signs of Increased Activity | |
| Based on recent Florida Association of Realtors (FAR) statistics, the stateís existing home sales rose in June. This is the 10th consecutive month that sales activity showed gains in the year-to-year comparison. ěSales units are up considerably for our market with respect to last year. The high end of the market, which is the most challenging, is beginning to show signs of activity. However, the most active segment of the market in Southeast Florida remains single-family homes under $250,000. Inventory in this price range is down to 5.7 months in Broward County and 7.8 months in Miami-Dade County. This is good news compared to the 13-month inventory this past January,î said Charles Richardson, Regional Senior Vice President, Coldwell Banker Residential Real Estate, Southeast Florida.
Richardson also points to signs of activity in the high-end market for properties priced over $1 million. Based on data from the Southeast Florida Regional MLS, January inventory for this year is down from 184 months in Miami-Dade and 160 months in Broward counties to 59 months July in Miami-Dade County and 39.2 months in Broward County. This reduction in months of inventory represents a 68% improvement in Miami Dade and a 75% improvement in Broward County. According to Richardson, ěActivity is trending in a positive way in all segments of the market. It is encouraging to see a reduction in inventory. Many properties have experienced significant reductions resulting in exceptional values being created in this segment of our market.î According to FAR, in Miami the median sales price of single-family homes decreased by 28 percent from $293,200 in June 2008 to $211,400 in June 2009. In Fort Lauderdale, the median sales price of single-family homes decreased by 33 percent from $305,400 in June 2008 to $204,800 in June 2009. About Coldwell Banker Residential Real Estate:
Coldwell Banker Residential Real Estate (FloridaMoves.com), is the leading real estate brokerage company in Florida, serving the communities of Central Florida, Palm Beach, Southeast Florida, Southwest Florida and Tampa Bay. With nearly 5,000 sales associates in 76 offices, Coldwell Banker Residential Real Estate is part of NRT LLC, the nationís largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogyís company-owned real estate brokerage offices. |
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| For more information, visit our Web site, www.FloridaMoves.com Any house. Any time. Anywhere. |
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