This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

StreetEasy Releases 1Q 2013 Miami Residential Market Report Revealing Signs Of Continuing Strength

MIAMI, April 8, 2013 /PRNewswire/ -- The First Quarter 2013 Miami Residential Market Report reveals signs that the Miami market is continuing to strengthen.  For the eighth consecutive quarter, since 2Q 2011, Miami Dade's overall median sales price has gone up year over year.  Current median sales price is $172,900, a 4.8% increase since last year.

Today marks the release of the first Miami Residential Market Report produced by, a comprehensive real estate information website. The report tracks the market trends of the greater metropolitan area with quarter-over-quarter and year-over-year comparisons.

"As in so much of the country, inventory has been extremely tight.  Couple that with increased demand from domestic and foreign buyers, and it's no surprise to see not only an increase in median sales price but also an almost 20% drop in distressed sales this quarter," says Sofia Song, Head of Research at 

According to the report, there were 20% fewer condo distressed sales since last year and 17% fewer single-family home distressed sales.  Additionally, the number of closed transactions increased by 18.5% since a year ago.

Some highlights of the Miami report include the following:
  • New Developments – New development inventory has been slow to enter the market.  This quarter, there was 45.8% fewer new development sales compared to a year ago.  Yet, there were 33 closings this quarter that were above $3M, a 136% increase since the prior quarter.  Average PPSF jumped to $532 this quarter, an increase of 52% since what was traded a year ago.
  • Condo Resales  – This segment of the market had an increase of 21.5% in the number of transactions this quarter compared to a year ago and a 3.6% increase in median sales price.
  • Single-Family Home Resales – 67% of all single-family homes sold this quarter was under $300K.  Additionally, the median price was $195,900 this quarter, an 18.7% increase compared to a year ago.

The First Quarter 2013 edition of our Miami Residential Market Report was researched and prepared by Recorded sales data of residential sales that traded during the First Quarter of 2013 ( 1/1/2013 – 3/31/2013) in Miami-Dade County was compiled from DataQuick.

In addition to overall Miami-Dade county data, the report also focused on six major markets of the greater metropolitan area, defined as such:
  • Greater Aventura & Bal Harbour Golden Beach, Sunny Isles, Ojus, Aventura, Bal Harbour, Bay Harbor Islands, Surfside, and Indian Creek
  • Upper Miami Beach : La Gorce, La Gorce Island, Allison Island, Mid Beach, Nautilus, Bayshore, Sunset Islands, North Bay Road, Biscayne Point, Normandy Island, and North Beach
  • South Beach & Fisher Island
  • Urban Core : City of Miami (includes Downtown Miami & Brickell), Coral Gables, Key Biscayne, Pinecrest, and South Miami
  • Southwest Miami Dade : Kendall, Doral City, Sweetwater, Tamiami, University Park, Westchester, Fountainbleu, and Coral Terrace
  • Northeast Miami Dade : Miami Shores, North Miami, Biscayne Park, North Miami Beach, and Golden Glades

About is a comprehensive real estate information website, providing consumers detailed sales and rental information and the tools to manage that information to make educated decisions.  The site has become the reference site for consumers, real estate professionals and the media and has been widely credited with bringing transparency to the New York City real estate market.  The site covers New York City, the Hamptons, Northern New Jersey and most recently launched in the South Florida and Washington, D.C. markets.


Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs