Friday, April 20, 2012

Miami condo prices jump 46 percent

Miami residential prices posted strong positive gains for the fourth month in a row in March, with the median condominium sales price rising 46 percent compared to the same period in 2011. According to a report from the Miami Association of Realtors, the median sales price also rose, increasing 13 percent. "The fact that Miami home prices have significantly increased for four consecutive months indicates prices have bottomed and have caught up with sales levels,” said the 2012 Chairman of the Board of the Miami Association of Realtors. “We expect this trend to continue, as Miami increasingly attracts international buyers and investors, second and vacation home buyers and migrating U.S. residents.”

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