Tag Archives: condominium market

Miami Condominium Prices Rise Consecutively Last 13 Months; Miami Single-Family Home Prices Mark Eight Months of Appreciation

Miami home prices rose again in July, marking eight consecutive months of appreciation, according to the a 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. The median sales price of condominiums, which has increased each of the last 13 months, in Miami-Dade County increased 15.2 percent to $135,905 compared to a year earlier. The median sales price of single-family homes rose 2.8 percent to $185,000. Year-to-date the median sales prices of single-family homes and condominiums have increased 12.1 percent and 35.4 percent respectively.

Miami, FL (PRWEB) August 22, 2012
Miami home prices rose again in July, marking eight consecutive months of appreciation, according to the a 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system. The median sales price of condominiums, which has increased each of the last 13 months, in Miami-Dade County increased 15.2 percent to $135,905 compared to a year earlier. The median sales price of single-family homes rose 2.8 percent to $185,000. Year-to-date the median sales prices of single-family homes and condominiums have increased 12.1 percent and 35.4 percent respectively.
“The Miami real estate market continues to attract demand as inventory consistently decreases, yielding significant price appreciation,” said 2012 Chairman of the Board of the MIAMI Association of REALTORS Martha Pomares. “The condominium market in particular is performing quite well, as international buying activity continues to heat up in Miami. This trend is expected to continue long into the future, as Miami enjoys its status as a major global city.”
In July the average sales price for condominiums in Miami-Dade County increased 7.9 percent to $272,946. The average sales prices for single-family homes decreased 12.2 percent to $329,925. Continue reading

Leave a comment

Filed under Miami Real Estate