Miami sets new benchmark for annual home sales activity

Record-setting year occurs while median prices rise by double digits
  • 2015 will be a record year for single-family home sales in Miami despite a recent drop in activity.
  • This year will represent the third best year ever for existing condo sales volume.
  • International buyers are driving a significant amount of Miami's sales activity and are accounting for a high volume of cash deals.

Miami-Dade County real estate market is expected to set a new record for single-family home sales in 2015. According to the Miami Association of Realtors (MIAMI), the market registered 12,857 single-family home closings during the first 11 months of this year, putting the market on pace to eclipse the all-time annual single-family sales record of 13,521, which was established in 2014.