MIAMI HOME PRICES ON THE RISE

Conditions are still improving in South Florida, as the median sales price of single-family Miami homes for sale jumped 12 percent last month, according to the Miami Association of Realtors. Compared to the same time period last year, the median sales price is now $199,100.

Conditions are still improving in South Florida, as the median sales price of single-family Miami homes for sale jumped 12 percent last month, according to the Miami Association of Realtors. Compared to the same time period last year, the median sales price is now $199,100.

This jump reflects the fact that the Miami real estate market continues to strengthen and stabilize. It was one of just three home markets in the state to see an increase in the average sales price for single-family homes according to The Real Deal. Foreign buyers are a significant contributor to the overall improvement in the Miami real estate market, as well as the improvement of the metropolitan area in general.

Reports for Miami condos unfortunately did not enjoy the same rise in median sales price. In the same month, the median sales price of condos for sale in Miami dropped 22 percent, to $107,700 compared to the same time last year. However, this was still over an 8 percent jump from the previous month.

Miami was the only major metropolitan area in Florida to see this increase, which is fantastic news and yet another beacon for the city. SoBe Luxury Homes, a team within Douglas Elliman Florida, represents the finest real estate in Miami Beach. Whether it is a South Beach condo you seek, or one of the many luxury homes in Miami, Christian Kawas and Ivan Hernandez are south beach real estate agents with the perfect listing for you. Search the MLS live, for free here, and call 305.608.6681 to find your new home today!