No Doubt of Miami’s Real Estate Rebound

by Isaac Benmergui, Esq on July 16, 2012

In case anyone is still skeptical of Miami’s rebounding real estate market, Realtor.com also reports that Miami is first in the nation for recovering markets. Buyers have snapped up properties at an alarming rate, leaving little available home inventory. When ground is broke for new high-rise condominiums, the buying frenzy begins. The Miami Association of Realtors reports condo sales are up 79 percent from last year.

It’s definitely a seller’s market at the moment, and as foreclosed properties make their way to market, investors wanting to buy in bulk and single-home buyers are waiting to pounce. From one year ago, there are approximately 6,000 less available properties in Miami-Dade County.

Further indications of a healthy Miami market . . . price per square foot has risen from $466.00 to $529.00 and the number of days available properties are on the market has fallen from 136 to 109.

Getting Legal Help

Before you close on your new home, call the law offices of Isaac Benmergui. Attorney Benmergui will make a thorough review of your closing documents to make certain your interests are protected; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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