Miami Sales Prices of Condos Up 3.1% in April

Miami Properties Sales Prices Continued Rising  

Medium Sales Prices of Condos Increased 3.1%

Single-family home prices, which again increased in April, remain at affordable 2004 levels despite more than three years of consistent year-over-year increases. Condo prices also increased in April 2015, marking 46 months of growth in the last 47 months. The median sale price for single-family homes increased 7.0 percent, up to $260,000 in April 2015 from $243,000 in April 2014. The median sale price for condominiums increased 3.1 percent in April to $199,000 from $193,000 a year ago.

Condos Selling at 93.1% of Asking Price

The average percent of original list price received for single-family homes was 94.6 percent, down a negligible 0.1 percent from a year earlier. The median number of days on the market for single-family homes sold in April 2015 was 43 days, equaling last year's figure. The average percent of original list price received for existing condominiums was 93.1 percent, a 0.5 percent decrease. The median number of days on the market for condominiums sold in April 2015 was 63 days, an increase of 14.5 percent compared to the same period in 2014.

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