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REAL ESTATE

Pending sales of single-family homes and condos rose in Miami-Dade in September

 

Pending sales contracts for single-family homes and condominiums in Miami-Dade rose in September from a year earlier, despite a tight inventory of residences on the market.

mbrannigan@MiamiHerald.com

Pending sales contracts on single-family homes jumped 58.5 percent in Miami-Dade County in September, to 1,617 homes from 1,020 a year earlier, the Miami Association of Realtors reported.

Pending sales of condominiums in Miami-Dade rose 27.5 percent in September to 1,917 from 1,504 a year earlier, the association of Realtors reported Thursday.

Pending sales of single-family homes and condos combined rose 14.5 percent in September from August, the association said.

The increase in pending sales comes despite a sharp decline in the numbers of single-family homes and condominiums on the market this year.

“There is motivation on the part of buyers, because most everyone realizes we’ve seen the bottom [in home prices] and we’re on the way back up,’’ said Ron Shuffield, president of Esslinger-Wooten-Maxwell, a brokerage firm in Coral Gables.

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