Tuesday, November 22, 2011

Miami condo sales jump 63 percent

Sales of existing condominiums in Miami increased 63 percent in October, with sales of existing single-family homes in Miami were up 41 percent in October, according to a report from the Miami Association of Realtors. "We are encouraged by the record-breaking performance of the Miami real estate market this year," said the chairman of the board of the Miami Association of Realtors. "Rising demand and limited supply is yielding higher average and median sales prices, and we expect to see double digit appreciation in 2012." International buyers continued to fuel deals, especially all-cash transactions.

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