Real Estate News

Miami Real Estate Hit a High Note This Summer

This summer, Miami saw an incredible surge in sales of single-family homes.

miami real estate

It is no secret that Miami is a great place to live; from the incredibly infusion of culture, to the beautiful beaches and impossibly gorgeous people, the city has always attracted renters and buyers in search of a relaxing lifestyle.

Summers are historically a slow season for buyers in Miami however, so the 8.6 jump of home sales (1,390 units sold) came as quite a surprise. According to the Miami Association of Realtors, June saw record-breaking numbers in single-family homes, and an increase of condo sales, up by 4.5 percent from last year.

Because of this surge, median sale prices for single family homes has risen 14.9 percent from last year to $280,000 in June, and condo prices have jumped 7.9 percent to $205,000.

READ MORE : Three Most Luxurious New York Apartments

Strangely enough, Miami Beach market prices are down 5 percent from a year ago, and sales are weaker by 10 percent.

The moral of the story is, Miami is having a great summer, so if you are looking to move on to more relaxing pastures, Miami is definitely probably worth a look and Miami Beach is probably worth an investment.

miami real estate

miami real estate

miami real estate

 

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Gary Adrian Randall

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