Miami Home Prices Still Affordable Despite Rise in Values

by Isaac Benmergui, Esq on August 16, 2012

Although buyers complain that they’re not able to buy Miami homes outright anymore, Miami’s real estate market still offers good value for buyers looking to purchase a new home.

From December 2011, 48 percent of Miami’s homes went for $150,000 or less. In 2011 and 2010, that same sales price accounted for 54 percent of all the homes. Also since 2011, Miami homes selling for less than $200,000 accounted for 62 percent of all residential sales. Luxury condos make up only 4 percent of residential sales.

Another aspect that makes the Miami area a good buy for new or first-time buyers is that although homes values have increased, and therefore, so have prices, property tax rates are decreasing in many Miami-Dade County residential neighborhoods.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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