Miami-Dade County saw its best November sales month in history as existing condo sales surged double digits for the 14th consecutive month.
Fueled by domestic and global home buyers, the Miami-Dade real estate market this year established all-time annual records for total home sales (set in 10 months), all-time annual condo sales (set in nine months) and all-time annual single-family home sales (set in 11 months), according to the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS).
Total home sales in Miami-Dade County rose 22.9% year over year in November. Miami single-family home transactions increased 1.2%, while existing condo sales rose 42%.
“The demand for Miami real estate is so high that not even November, a time usually known for a slower pace of deals because of the holidays, can slow down this historic market,” said Jennifer Wollmann, chairman of the board for MIAMI. “Domestic buyers from high-tax, high-density states have migrated here as the availability of remote work has expanded exponentially with the pandemic. Vaccinated global buyers were allowed to resume travel to the U.S. in November and are only adding to the number of buyers interested in Miami properties.”
Year-to-date, Miami has registered 35,961 existing total homes sales in 11 months, which surpasses the previous annual record of 30,041 transactions in the entire year of 2013, an increase of 19.7%, according to a press release.