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Douglas Elliman Florida Report: Miami Sales 1Q 2011

…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…

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