Sales Prices Proceed to Rise Despite Mass Inventory in Miami-Dade and Broward
by Sep Niakan | May 07, 2014
Despite the housing inventory boom, prices for condos and single-family homes surged in March.
The median price for condo resales in Miami-Dade County is up 19.8%, reaching $235,000 year-over-year, according to data from the Miami Association of Realtors. This increase was 13% higher than the month before in resale prices. The resale price of single-family homes in Miami-Dade rose 4.4% to $235,000 year-over-year also.
“While additional inventory is creating a more balanced market,” Liza Mendez, chairwoman of the Miami Association of Realtors, said, “strong sales continue to drive growth as Miami remains a focal point for buyers and investors worldwide.”
Existing single-family homes in Broward County received a 10.7% median price increase year-over-year, reaching $268,000, according to data from Greater Fort Lauderdale Realtors. Median condo prices increased by 25.7% to $120,000, compared to the data from March 2013.
Photo credit: Aerial view - condoblog.com
by Sep Niakan | January 22, 2017
Welcome to the month of love! February’s here, and it’s time to get into celebration mode once again. With Valentine’s being the highlight of the month, Miami’s got a mixed bag of events that will help singles and couples...
by Sep Niakan | January 12, 2017
According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...
by Sep Niakan | January 09, 2017
Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...
by Sep Niakan | January 08, 2017
Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...