The Real Deal Miami

Miami pending home sales up 25 percent

February 29, 2012 10:30AM

A home for sale in Miami

The total number of residential listings that pended in January increased by 24.8 percent, according to data from the Miami Association of Realtors. There were a total of 3,426 pending sales in January, up from 2,746 in January 2011. “Pending sales, which typically predict future closing activity, continue to rise in Miami-Dade County,” said Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors. “After a record sales year in 2011, our inventory levels declined sharply. Current trends continue to reflect demand for Miami real estate.” Pending single-family home sales saw the biggest jump, with a 46.4 percent increase, compared to just 13.6 percent for condominiums. — Alexander Britell