Third quarter sales rose in all three counties in South Florida, year-over-year, after months of home sales increases. home prices also continued growing in Miami-Dade, Broward and Palm Beach.
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Miami – March 24, 2015 – (RealEstateRama) – Miami single-family home sales registered double-digit growth in February, and all residential median sale prices continued their more than three years of gains, according to a new report by the 35,000-member MIAMI Association of REALTORS (MIAMI) and the local multiple listing Service (MLS) system.
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Average sales prices were also marked by double-digit growth. The average sales price of a Miami single-family home in October was $421,546, a 29.9% increase compared to $324,611 at the same time last year. Similarly, average Miami condo prices increased by 11.8% to $296,568 relative to the prior year where the average price was $265,225.
Even with the double-digit growth of median sales prices, Miami properties remain affordable compared to other global cities like New York and London." Residential real estate sales rise Single-family home transactions — which set an all-time Miami annual record in 2014 — increased 5 percent year-over-year in May 2015, from 1,215 to 1,276.
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Despite the decrease in sales activity, homes continue to trade at prices higher than a year ago. Nationally, the median existing-home price in September was $199,200 — an 11.7% yearly jump. NAR.
Average sales prices were also marked by double-digit growth. The average sales price of a Miami single-family home in October was $421,546, a 29.9 percent increase compared to $324,611 at the.
And the inventory of Miami-Dade condos listed for resale ballooned 33 percent to 10,805 units in March from a year earlier. For Miami-Dade single-family homes. strong sales continue to drive growth.
Florida must stop shadow lenders The shell companies highlighted in the Panama Papers have a direct impact on our local real estate market. Although many of these offshore vehicles have a legitimate purpose, a significant number.