The Miami Association of Realtors recently reported that Miami-Dade County real estate posted its best April sales month in history as pent-up demand, more US individuals and companies moving to South Florida, and record-low mortgage rates fuelled a double-digit sales increase for the eighth consecutive month.

Miami-Dade County total home sales surged 151.3% year-over-year, from 1,576 to 3,960. Miami single-family home transactions rose 83.1%, from 865 to 1,584. Miami existing condo sales increased 234.2%, from 711 to 2,376.

This is far and away the best April selling month since MIAMI began tracking stats in 1993. The next best April occurred in April 2014.

“Miami recorded its best April sales month in history and the sales could have been even larger had there been more inventory,” MIAMI chairman of the board Jennifer Wollmann said, adding: “As is the situation in many major cities, inventory is low for single-family homes. The Miami condo market, however, is in a balanced market with 7.1 months of supply and buyers are taking advantage of the sector’s healthy inventory and today’s record low mortgage rates.”