Miami Real Estate Posts Best June Sales Month in History!

Miami Real Estate Posts Best June Sales Month in History. Existing Condo Sales Jump 212.8% Year-Over-Year.

MIAMI — Miami-Dade County real estate posted its best June sales month in history as pent-up demand, more U.S. individuals and companies moving to South Florida, and record-low mortgage rates fueled a triple-digit sales increase, according to the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Miami-Dade County total home sales surged 114.3% year-over-year in June 2021, from 1,893 sales to 4,057. Miami single-family home transactions rose 41.6%, from 1,089 to 1,542. Miami existing condo sales increased 212.8%, from 804 to 2,515.

“Miami’s condo market has now posted a remarkable 10 consecutive months of sales gains,” MIAMI Chairman of the Board Jennifer Wollmann said. “South Florida’s strong market fundamentals— U.S. companies bringing high-paying jobs to Miami, tax-burdened Northeast and West Coast homebuyers relocating to our tax-friendly and pro-business region, year-over-year population gains, increased availability of remote work, low mortgage rates — continue to fuel Miami real estate.”

This is the best June selling month since MIAMI began tracking stats in 1993. The next best June occurred in June 2014 when Miami-Dade County had 2,669 total home sales, or 1,388 fewer than June 2021.

Miami home sales are also significantly higher than June 2019. Miami total home sales are up 66.5% in June 2021 vs. June 2019, from 2,436 to 4,057. Miami single-family home sales (24.9% increase) and condo transactions (109.2% jump) are higher than June 2019.

Source: https://www.miamirealtors.com/2021/07/22/78792/