Miami’s real estate market continued to improve in September as sales and listings grew by 4.6 percent and 23.3 percent, respectively, compared to 2012.
Single-family home sales rose to 1,108, up 21.8 percent year-over-year. Meanwhile, condominium sales grew 4.6 percent over the same period to 1,352 compared to 1,292 at the same time last year.
“The double-digit growth in the sale of single family homes is a sign that now is a great time for homeowners to sell,” said 2013 Chairman of the Board of the Miami Association of Realtors Natascha Tello. “The Miami real estate market continues to attract buyers from across the world due to the world-class amenities Miami offers coupled with the significant growth of the local real estate market over the last three years.”
September marked the 22nd consecutive month where the median sales price for single-family homes and condominiums increased.
Last month, the median sales price for single-family homes spiked by 18.4 percent, up to $225,000 from $190,000 in 2012. Similarly, the average sales price for single-family home increased 17.6 percent to $371,898.
Condominium prices also experienced strong appreciation during the same period. Compared to September 2012, the median sales price for condominiums again increased by double digits, up 21.3 percent to $181,875 from $150,000 last year. The average sales price for a condominium was $315,813, up 14.1 percent from $276,767 the prior year.
Source : Oscar Pedro Musibay