Miami home sales set record in 2014, report says

Miami /
Jan.January 23, 2015 04:44 PM

Miami-Dade home sales rose in December, contributing to a record year for sales of single-family houses in 2014. Yet, condo sales declined, as new projects bit into demand for existing inventory, according to a report released Friday by the Miami Association of Realtors.

Single-family home sales increased 4.8 percent to 13,521 in 2014, compared to 12,899 the previous year. In December, single-family home sales rose 9.6 percent relative to December 2013, up to 1,250 from 1,140, the report’s figures show.

Condominium sales dropped 4.3 percent to 16,409 in 2014, compared to 17,142 the previous year. December figures mirrored that trend, as condominium sales fell 2.1 percent to 1,396 from 1,426 the previous December.

Combined, residential real estate sales increased 3 percent to 2,646 compared to 2,566 in December of last year.

“The Miami real estate market again reflected great demand in 2014,” said Christopher Zoller, 2015 Residential President of the Miami Association of Realtors, in a statement. “More single-family homes were sold in Miami-Dade County than ever in history, while condominium sales marked their second strongest year ever despite competition from new construction supply.” — Ina Cordle

 
 

Related Articles

arrow_forward_ios
Keith Kosow and 100 South Pointe Drive in Miami Beach (Getty, LinkedIn/Keith Kosow, Luxhunters, Google Maps)
Investment boss sells gut-renovated Continuum South Beach condo for $10M
Investment boss sells gut-renovated Continuum South Beach condo for $10M
From left: Lockton Companies' Fred Zutel, KAR Properties' Shahab Karmely, Bilzin Sumberg's Suzanne Amaducci-Adams, and International Sales Group's Craig Studnicky
Soaring costs and slowing demand complicate South Florida condo projects
Soaring costs and slowing demand complicate South Florida condo projects
Intech Investment Management's Robert Garvy and Warner Pacific Insurance Services' John J. Nelson with The Bristol Palm Beach at 1100 South Flagler Drive
Financier sells Bristol condo in West Palm for $21M
Financier sells Bristol condo in West Palm for $21M
Suzanne Amaducci-Adams, Len Blavatnik, George Gleason, Josh Zegen, and Russell Galbut
Here are South Florida’s top construction loans of the past year
Here are South Florida’s top construction loans of the past year
From left: Tony Pettiti, Krispy Creme's Michael Tattersfield, and BitPay's Stephen Pair with 1500 Beach Road
Jeffrey Soffer sells out SeaGlass for $169M — here’s who’s moving in
Jeffrey Soffer sells out SeaGlass for $169M — here’s who’s moving in
Miami Skyline
South Florida by the numbers: A look back at 2022
South Florida by the numbers: A look back at 2022
From left: Taylor Collins and Jon Paul Perez with Rivage
Related, partners launch sales of Bal Harbour condos, with PH asking over $65M
Related, partners launch sales of Bal Harbour condos, with PH asking over $65M
From left: Charles Kushner, Laurent Morali, David Arditi, and Nicole Kushner Meyer along with renderings of 1900-2000 Biscayne (left) and 2222 Brickell Avenue (right) (Getty, Kushner Companies, Aria Development Group)
Miami board to vote on Kushner’s Edgewater rental project, Aria’s Brickell condo building
Miami board to vote on Kushner’s Edgewater rental project, Aria’s Brickell condo building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...