Posted by Jonathan J. Miller -Wednesday, May 4, 2011, 1:01 PM
The inaugural Douglas Elliman Florida Report: Miami 1Q 2011 was published today. It’s been a journey to say the least and there is a lot more to come. This a preview of the coming quarterly analysis of the condo, townhouse and single family sales markets covering the coastal communities of Miami.
It’s the first detailed market analysis of its kind on the Miami market and the series content will be expanded in coming quarters with break outs for new development, distressed, non-distressed and locations.
UPDATE: Custom data tables are now live.
Here’s an excerpt from the report:
…There were 5,101 condo, townhouse and single family sales in the first quarter, 29.5% more than the same period last year. Sales activity remained above any prior quarter in the past 5 years. The increase in activity is due to a consistent absorption of distressed sales. The number of short sales expanded 10% over the past year and comprised 20.5% of all sales. REO sales nearly doubled over the same period representing 44.2% of the first quarter market…