Pending sales were up 8 percent in Miami from last year as the market continued its great run.
Cumulative pending home sales for the Miami-Dade area were up 8 percent in April from last year, according to the latest release from the Miami Association of Realtors (MAR).
For total listings, pending sales were also up year-over-year, climbing 5 percent to a 3,975 rate.
“We continue to be encouraged by pending home sales activity in Miami-Dade County,” said Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors. “Current sales activity will further deplete inventory beyond already low levels, as limited supply generates multiple offers and drives price appreciation.”
Other details in MAR’s report included:
- In addition to its yearly gains, cumulative pending home sales were positive month-to-month, rising 1.2 percent.
- Single-family home pending sales were particularly strong, posting increases of 13 percent from April 2011.
Despite the yearly increase for total pending listings, the numbers declined 4.4 percent from March to April, but Nancy Iliffe, an agent with Shelton and Stewart Realtors in South Miami and Master Brokers Forum member, said she was not concerned at all with the numbers.
“We seem to have a lull around Easter vacation – everyone just kind of stops,” she said, explaining that with the two-week vacation that most students have, parents often plan vacations and various retreats that detract from homebuyer traffic.
As soon as May hit, though, Iliffe said it was business as usual, with the Miami markets picking right up where they left off in January and February.
“I can’t be busier,” Iliffe said, adding that the markets have been so active that previous sellers, who had pulled their listings in 2009 and 2010 out of frustration, are now contacting her again to re-list their properties.
“Anybody who tried to sell their house in 2009 is coming back to the market,” she said.