Second Homes 411

While the Florida Association of Realtors is reporting that the number of homes sold is on the rise, there’s still a glut of unsold homes on the market in South Florida, according to a new report from Condo Vultures Realty LLC.

For-sale signs adorn 107,527 South Florida condos, townhomes and single-family residences. And 9,302 more are under contract in Miami-Dade, Broward and Palm Beach counties, according to the report released on Monday.

Miami-Dade has the most resales on the market, with 40,994, or 38 percent. Broward has 34 percent of the inventory, or 36,926 homes. Palm Beach County has 28 percent, or 29,607 residential properties for sale, according to the numbers, which are based on active listings and pending sales in the Multiple Listing Service as of Nov. 24.

Single-family homes make up 43 percent, or 46,599, of the inventory for sale. Condos and townhomes account for 57 percent, or 60,928.

There are 4,245 homes under contract in Miami-Dade – 46 percent of the total. Broward ranks second, with 3,295 pending sales. Palm Beach ranks third, with 1,762 properties under contract.

Condos and townhouses make up 48 percent, or 4,434, of those under contract, while single-family homes account for 52 percent, or 4,868.