Miami Properties Continue to Increase for The 25th Consecutive Month
High demand keeps driving significant price appreciation in Miami Real Estate. Florida's housing market continued a stabilization of its housing inventory, with home prices increasing for the 25th consecutive month. “Despite more homeowners listing homes for sale in Greater Miami, strong demand continues to yield rapid absorption,” Francisco Angulo, residential president of the Miami Association of Realtors.
The median price of a single-family home in Miami-Dade Countyrose 15 percent to $246,180 in December from $214,060 a year earlier and was up 5.9 percent from November 2013, according to the Miami Association of Realtors. Miami-Dade single-family home sales rose 9.8 percent in December, with 1,140 closings, up from 1,038 a year earlier, the Realtors’ group said. Single-family home sales in Miami-Dade jumped 16 percent from November 2013 levels, which had showed a modest dip in sales.
The median price of a Miami-Dadecondo rose 7.4 percent to $175,000 from $163,000 a year earlier. Miami-Dade condo sales rose 2.2 percent in December to 1,426 closings from 1,395 a year earlier and were up 11.9 percent from November.
We expect Miami properties will continue to experience strong appreciation in a healthy solid market where demand is in the rise.
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