Latest report by Miami Association of Realtors says sales of existing luxury condos rose 51.1 percent  year-over-year in July. The chairman of the Miami Association of Realtors said that “Sellers are becoming more realistic with their prices, especially at the top of the market.”

• Luxury single-family home sales rose 9.6 percent year-over-year in July, from 73 to 80.
• Existing condo sales increased 2.5 percent, from 1,104 to 1,132.
• The median sales price was flat at $225,000.
• Total sales volume for all properties in July was $961.1 million.
• Cash transactions comprised 39.9 percent of total closed sales, compared to 42.7 percent last year.