Prices for single-family homes and condos in Miami jumped 25 percent and 19 percent respectively compared to median prices this time last year according to a recently released report from the Miami Association of Realtors.
The report also found that the median sales price for single-family homes climbed 16 percent from February to March 2013 and the median sales price for condominiums grew 1.2 percent in one month.
“This is the highest percentage increase for the median sales price of single-family homes since the height of the previous real estate boom in 2005,” the report concluded.
Natascha Tello, the 2013 Chairman of the Board of the Miami Association of Realtors attributed the strengthening real estate market to “robust demand and limited supply.”
The average sales price for single-family homes in Miami-Dade County increased 16.6 percent to $389,847. The average sales price for condominiums increased 27.1 percent to $324,380.
If you thinking of buying or listing your home for sale, contact Teresa Williams of Prospera Realty and Property Management at 813-434-0290 or visit https://www.prosperarealty.com. Teresa is a seasoned professional with unrivaled real estate knowledge in the South Tampa market.