Median & Average Sales Prices Continue to Rise in Miami Market

Median & Average Prices Still in the Rise in Miami Properties 

Median & Average Sales Prices Continue to Rise 
In the second quarter, the median sales price for homes in Miami-Dade County was $245,000, an increase of 8.9 percent compared to last year. The median sales price for condominiums rose 5.6 percent to $190,000 in the second quarter compared to a year earlier. Second quarter price increases mark ten (10) consecutive quarters of growth for both single-family homes and condominiums.

"The Miami real estate market continues to reflect strength and vitality fueled by demand from both foreign and domestic buyers," said 2014 Chairman of the Board of the MIAMI Association of REALTORS Liza Mendez. "While supply is growing and creating more balance between buyers and sellers, inventory in certain price points and market segments remains tight, particularly for single-family homes. Financing for condominiums is still difficult to obtain, a fact that is hurting sales for this property type." Compared to last year, the average sales prices for single-family homes and condominiums increased 3.5 percent to $460,018 and 6.7 percent to $375,941, respectively.

Nationally, the median sales price of existing single-family homes was $212,400 in the second quarter, up 4.4 percent from the second quarter of 2013. The national median sales price for condominiums was $211,100, a 5.9 percent increase over the previous year. The statewide median sales price for single-family existing homes in the second quarter was $180,000, up 5.3 percent from the same quarter a year ago. The median sales price for condominiums in Florida was up 10.1 percent compared to the same quarter last year at $142,000.

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me atJuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

2014 Q2 Miami Dade Condo Market Summary

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me atJuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

Oceana Key Biscayne Marked The 9th Completed Project in Miami

Oceana Key Biscayne Marked the 9^th Completed Project

Oceana Key Biscayne has successfully being completed marking the 9^th project east of I-95 finished since the new cycle of construction began in 2011. Oceana sold 34 units in the first 10 days of closings with nearly 97,700 square feet of livable space for more than $139 million, according to Miami-Dade County records. Units in the two-tower complex have transacted at an average price of nearly $1,425 per square foot, with individual condos trading from between about $915 per square foot to about $2,100 per square foot. 

Oceana Key Biscayne is the first of two new South Florida luxury condo projects being developed by Argentina-based Consultatio led by Eduardo Costantini. Overall, more than 95 percent of the nearly 5,165 condo units located in 68 condo associations in Key Biscayne were developed between 1964 and 2002. Currently, more than 135 condo units are available for resale in Key Biscayne at an average asking price of about $755 per square foot. In the first seven months of 2014, buyers have purchased nearly 130 condo units at an average price of about $631 per square foot, according to the Southeast Florida MLXchange. Of the condos presently on the market, only one unit in Oceana Key Biscayne has been listed for resale at an asking price of more than $2,110 per square foot, representing more than a 30 percent premium over last week’s original purchase price. * The Real Deal

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me atJuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com

European Investors High Order to Place $1 Billion in U.S Real Estate

European Investors Mandate to Place $1Billion in U.S Real Estate 

 As recently reported foreign investors acquired $92 billion dollars worth of real estate in the U.S last year.  Given the stability and maturity of the U.S. commercial property market in 2014, global institutional money continues to flow into the United States.

 The most recent example of foreign capital flowing into the U.S., LaSalle Investment Management, a leading global real estate investment manager announced today their firm has been awarded $1 billion of equity to invest in US real estate by a large European institutional investor.  The new mandate will seek direct real estate investment opportunities across all property types in primary and top secondary markets in the U.S.

"We are extremely pleased to be working with a global investor of this caliber to develop a customized investment program which fits their requirements," says Jason Kern, LaSalle Americas CEO. "We continue to see strong interest from sophisticated investors from around the globe in more customized strategies like this one targeting the US commercial real estate market.  We anticipate continued economic growth and improving real estate fundamentals over the next few years, and believe ongoing changes in demographics, technology and urbanization will provide attractive risk-adjusted investment returns across most major property types in the US." * World Property Channel

Call me now to schedule a complete presentation of any project in Miami. For Reservation please contact me at 954.254.6085 or email me atJuanSolerRealtor@gmail.comTime is always of the essence but much more in Pre-construction. Don't miss this window of Opportunity!

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com