South Florida Home Sales Prices Show Double Digit Rise

by Isaac Benmergui, Esq on September 11, 2013

Red$graph_cropThe South Florida real estate market continues to heat up. July sales figures rose double digits, more than any time since the highest point of the boom in 2005.

Even without much in a supply of homes to sell, the numbers rose 25.7 percent to a high point of $230,000 from $183,000 the previous year, according to the Miami Association of Realtors. Prices are still much lower than before the housing bust, when the highest median price of a single-family home was $351,200.

The latest sales figures show a 20-month consecutive rise in single-family and condominium purchases. This increase in sales may be due to buyers trying to purchase their homes before rising interest rates price them out of the market.

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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