Miami Real Estate Market Posts Fifth Consecutive Monthly Gains

by Isaac Benmergui, Esq on June 10, 2012

The Miami Association of Realtors reports that Miami home prices showed strong gains for the fifth month in a row.

Miami-Dade County show single-family home prices climbed 8.2 percent to $183,000, while condominiums sales prices increased by 30 percent to $150,000 from the previous year. Non-distressed single-family homes were up to $253,400 and $246,250 for condominiums. The chairman of the realtors group surmised that the price hike could be due, in part, to the limited inventory of available properties.

Statewide, condominium prices rose 10.2 to $144,350 and single-family homes rose 16.1 percent to $108,000 for the month of April. The Miami real estate market is showing remarkable gains compared to the rest of the nation’s housing markets.

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