Fifth Month Of Consecutive Price Increases As Miami Real Estate Inventory Continues To Shrink
According to recently gathered data, the average sales price for single-family home properties within the region went up by 8.2 percent to $183,000. As far sales made for the non-distressed property options on the market within the month of April, single-family homes went for an average of $253,400 while condominiums went for $246,250.
Experts have noted that the increasing prices for property options within the region is largely due to the strong demand seen in 2011 which seems to have spilled over into 2012 as property buyers and investors from all over world continue to venture into all of their options on the Miami real estate market.
While the demand is not showing any signs of slowing down, many are fully convinced that the trend we are seeing now is likely to carry on for the next year as today’s inventory supply is shrinking faster than anyone had initially expected.
The fact that people are not at all discouraged by the rising property prices within the region, the more convinced you can be that Miami real estate properties are truly are worth every penny that goes in to the actual purchase. After all, people from different parts of the world would not even bother so much as to look into what the region had to offer if it were not for the exceptional value that each option holds on the market.
Now that the inventory supply is expected to last up to an estimated five months, it becomes only natural for people to wonder what fabulous options have yet to be seen within the region as more and more development projects are expected to bring newer choices to the property market within prime locations such as the city of Sunny Isles Beach, Downtown Miami and Coral Gables.
If you would like to find out more about the current market situation in Miami, or if you would like to learn about available Miami real estate properties on the market, you should definitely get in touch with a professional agent that can give you all the information that you need regarding the region.
Yaz Morgan
Bal Harbour Homes
