The Real Deal Miami

Inventory bulge continues

November 25, 2008 02:09PM

Sales are rising, but a large number of unsold homes remain in South
Florida, according to a new report from Condo Vultures Realty. For-sale
signs adorn 107,527 South Florida condos, townhomes and single-family
residences. And 9,302 more are under contract in Miami-Dade, Broward
and Palm Beach counties, according to the report, based on active
listings and pending sales in the multiple listing service as of
November 24, released yesterday. Miami-Dade has the most resales on the
market of the homes in South Florida, with 40,994, or 38 percent.
Broward has 34 percent of the inventory, or 36,926 homes. Palm Beach
County has 28 percent, or 29,607 residential properties for sale,
according to the numbers.