Miami Medium Priced Home Owners Were the Big Winners in 2013

Miami Medium Priced Home Owners Were the Big Winners in 2013

Miami real estate continues to yield solid returns not only for the large investment companies and the wealthy but also for the owners of medium price homes. It was precisely the owners of medium-priced homes in Miami-Dade and Broward counties that were the big winners in 2013, according to a new report from One Sotheby’s International Realty.

Homes priced between $250,000 and $500,000 in Miami-Dade and Broward enjoyed a 35 percent jump in sales from 2012 to 2013, the firm’s “Trends 2014 Market Report” shows.

 

Miami-Dade’s residential market totaled 31,909 transactions in 2013. That is an 8 percent increase from 2012. The county’s average per square foot sale price rose 8.3 percent to $273.

Broward had 29,952 transactions in 2013 for a gain of 5.8 percent from 2012. The county’s average price per square foot of $155 was a 15.3 percent jump from 2012.

 

With an average sale price per square foot of $1,692, La Gorce Island was Miami-Dade’s priciest residential market in 2013. Hillsboro Beach was Broward’s most expensive at $919 per square foot. The secret is out and nationally Miami is consistently one of the top markets for most of the highest-ranking countries searching for property in the U.S.

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