The Miami Association of Realtors reported Tuesday that sales of midrange houses and condos grew by double digits between January and March compared to the previous year, despite an overall.
· Miami home sales increased by double-digits in August. by Zachary Wright September 25, 2018. Miami-Dade County home sales rose 13.3 percent year-over-year with single-family homes and condominium markets posting double-digit growth, according to a new report by the MIAMI Association of Realtors. Total Miami home sales increased 13.3 percent – from 2,158 to 2,444.
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In fact, prices for the mid-market sector saw record growth rocketing 27% over last year. Don’t forget that a thousand people a day move to Florida. In Miami-Dade, the median price for a single-family home rose to $305,000 up 9.5% and condos rose 1.3% to $210,000. Prices for single family homes have risen for 61 consecutive months.
Condo prices show strong growth in August, particularly in Miami-Dade County.
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"Non-distressed Miami single-family home transactions have now increased for six consecutive months. Miami is also seeing strong demand at mid-price points in both existing single-family homes and condos." Median sale prices for existing Miami-Dade County single-family homes rose 12.5 percent in June to $315,000, according to the newly-released.
However, the figure was similar to September’s sales when 48 fewer homes were sold. Condo sales were also strong in October. While the 1,416 condos sold in October represented a minor 1.2% decrease compared to year-ago figures, they were 4.7% greater than September’s condo sales figures of 1,352. Double-Digit Growth in Traditional Sales
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Miami-Dade Third quarter sales rose in all three counties in South Florida, year-over-year, after months of home sales increases. Home prices also continued growing in Miami-Dade, Broward and palm beach counties. miami-dade residential sales in the third quarter rose 15.2 percent, year-over-year, to 6,792 in Miami-Dade County, the highest surge of all three counties.