South Florida has a combined 107,527 condos, townhouses, and single-family houses for sale and an additional 9,302 residences under contract as of Nov. 24 in Miami-Dade, Broward, and Palm Beach counties, according to a new report from Condo Vultures® Realty LLC.
Miami-Dade, the most populated county in South Florida, has the greatest number of resales on the market with 40,994, or 38 percent of the regional total. Broward’s inventory ranks second with 36,926 residences available, which works out to 34 percent of the total inventory. Palm Beach is third with 29,607 residential properties, representing 28 percent of the total regional inventory, according to the report by the Bal Harbour, Fla.-based brokerage.
The totals are based on active listings and pending sales as of Nov. 24 in the Multiple Listing Service.
Single-family houses represent 43 percent, or 46,599, of the inventory for sale, and condominiums and townhouses account for 57 percent, or 60,928, of the total.
Miami-Dade is home to nearly half of the 9,302 pending residential sales in South Florida. There are 4,245 residences in Miami-Dade under contract, representing 46 percent of the total. Broward ranks second with 3,295 pending sales, which accounts for 35 percent of the regional total. Palm Beach is third with 1,762 properties under contract, accounting for the remaining 19 percent of the total.
Condominiums and townhouses represent 48 percent, or 4,434, of the residences under contract in South Florida, and single-family houses account for the remaining 52 percent, or 4,868, of the total, according to CondoVultures.com.
Peter Zalewski is a principal with the consulting company Condo Vultures® LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report. Looking for a property at a deep discount? You are encouraged to take a peek at the Vultures Database™ .
Copyright © 2008, Condo Vultures® LLC
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