The Real Deal Miami

South Florida homes languish on market

June 23, 2008 02:09PM

Area real estate agents and unhappy homeowners are seeing houses that would have moved quickly on the market during the housing boom are now sitting and sitting, even with massive price cuts. Statistics from ZipRealty show that almost one in 10 homes for sale in South Florida have been on the market for at least a year. The company, which tracks sales by listing date, shows that 9,828 houses have gone past the 12-month point, and at least 1,058 have been listed for more than two consecutive years in Broward, Palm Beach and Miami-Dade counties. The real numbers could be even higher, if one accounts for homes pulled off the market and put back on when sellers switch agents, make improvements, or let the listing expire.