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Condo Prices in Miami Rise in August

September 24th, 2012 Written By Carol Pawley

According to a report from the Miami Association of Realtors, in the month of August the median price for Miami-Dade condos rose 28.4% compared to the same period in 2011. Also reported was  median sales price of single-family homes increased to 10.8% .

That being said median sales price for condos now stands at $146,500, and $195,000 for single-family homes. For the past nine consecutive months home prices in Miami have risen. Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors said, “Despite the shortage of housing inventory, Miami home sales remain strong and continue to drive significant price appreciation. There is evident demand for Miami properties, particularly from foreign buyers and investors who recognize Miami’s desirability and profitability.”

Click here to see condo’s currently for sale.

It looks like Miami might be on the road to recovery. What do you think? Share your thoughts below.

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