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Miami, FL â€“ The total number of listings, including single-family homes and condominiums, that pended in Miami-Dade County during the month of January increased 24.8 percent, from 2,746 in January 2011 to 3,426 in January 2012, according to the 26,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) systems. In more detail, single-family home and condominium sales that pended during the month increased 46.4 percent and 13.6 percent respectively compared to the previous year. Compared to the previous month, total pended sales decreased 27.4 percent.
Cumulative Pending Sales
December cumulative pending home sales â€“ including single-family homes and condominiums - in Miami-Dade County were 6.3 percent above what they were a year earlier, up from 11,182 to 11,887, and 5.4 percent higher than the previous month, up from 11,279.
â€œPending sales, which typically predict future closing activity, continue to rise in Miami-Dade County,â€ said Martha Pomares, 2012 chairman of the board of the MIAMI Association of REALTORS. â€œAfter a record sales year in 2011, our inventory levels declined sharply. Current trends continue to reflect demand for Miami real estate.â€
Pending sales of condominiums were 4.2 percent higher than they were a year earlier, up from 6,497, and five percent above what they were the previous month, up from 6,481. Pending sales of single-family homes were 9.2 percent above what they were a year earlier, up from 4,685 to 5,115, and seven percent above the previous month, when pending single-family homes sales totaled 4,798.
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