Miami-Dade County broke its record for the most annual home sales in only 10 months as October transactions surged year-over-year, according to a report by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS).
Total home sales in the county rose 8.8% in October from a year earlier. Miami single-family home transactions decreased 12.4% from 1,326 to 1,161, while existing condo sales rose 28.8% from 1,411 to 1,817, the report noted.
Year-to-date, Miami has registered 32,940 existing total homes sales in 10 months, which surpasses the previous annual record of 30,041 transactions in the entire year of 2013, an increase of 9.7%.
“Miami home sales were rising before the pandemic, but the expansion of remote work has accelerated the demand for Miami real estate,” said Jennifer Wollmann, chairman of the board for MIAMI. “If you can work from anywhere, why wouldn’t you want to live where you can be outside 365 days a year? Why wouldn’t you want to live in a region that is attracting many tech and financial firms with high-paying jobs, a city with the most international flair, a news-making culinary scene, world-class shopping and more?”