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Elliman Report: Miami Coastal Mainland Sales 1Q 2016
Miami’s mainland housing prices generally moved higher as sales declined and inventory expanded. Contributing to lower activity was the 28.8% drop in distressed sales, comprising foreclosures and short sales as the market continued to move properties into stronger hands. The market share of distressed sales fell to 21.5% of all sales, from 38.5% two years ago. Sales of non-distressed properties fell 13.8% over the same period. The reduction in distressed sales lowered the share of the market paying with “cash” by 5% to 50.7% of all sales, 64.2% for condos and 35.2% for single families…
