The Real Deal Miami

Pending home sales up

March 05, 2010 05:08PM

Pending home sales rose in both Miami-Dade and Broward counties last month, according to a report released yesterday by the Realtor Associate of Greater Miami and the Beaches. Miami-Dade County saw a 9 percent month-over-month uptick, to 9, 164 homes and condos. Broward County pending home sales rose 4.7 percent over January and 62 percent over February 2008. Condo Vultures principal Peter Zalewski attributed the sales increase in part to the growing inventory of townhomes and condos priced under $250,000. In Miami-Dade County, 53 percent of all townhomes and condos fall into that category, and in Broward 65 percent of that inventory does.