Friday, August 10, 2012

Downtown Miami sales prices rise, transaction volume stays strong

The average unit sales price in downtown Miami rose 9.1 percent in the second quarter compared to the same period in 2011, according to a report from the Downtown Development Authority. While inventory has fallen by a dramatic 30 percent since 2011, sales have continued, with the average monthly volume of residential sales up 7.2 percent in that time span. Rental activity has also grown, with the average number of leases closed each month in the second quarter up 26 percent from the first quarter of 2012.  Downtown Miami stands out as one of the few success stories as we emerge from the recession. 

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