Miami pending sales up 67 percent

The number of single-family and condominium listings that pended in Miami-Dade County in October rose 67 percent on a year-over-year basis, according to data released today by the Miami Association of Realtors. There were 4,172 listings that pended, up from 2,488 in October 2011. It was also an 18 percent increase over the previous month. “The Miami real estate market is poised for another record year, that would surpass the all-time sales record set in 2011,” said Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors. “Strong demand persists despite the shortage of housing inventory, and listings are increasingly selling at a more rapid pace, driving in significant price appreciation.” — Alexander Britell