Miami Residential Property Prices Increase By 36 Percent As Housing Inventory Drops 37 Percent

Today, there are only a handful of residential properties for sale and people who are looking for properties in Miami should be aware of the possible price increase on the remaining residential properties.

Due to the limited supply of residential properties this 2012, several real estate experts was not surprised of the price increase of at least 36 percent for the remaining properties in Miami. Although this move could potentially slow down their hot streak in terms of residential property sales, the Miami Association of Realtors believe that these properties will still be sold in just a matter of time.

A lot of people did not expect that Miami would bounce back from its oversupply of residential properties several years back, but look at where they are now – on top of the nationwide real estate market! Some people may become concerned about the limited supply of residential properties in Miami, but the fact that despite the price increase, the real estate market of Miami is still one of the best places to get a property today.

Because of the residential property spike, the real estate experts in Miami has already anticipated a slow February because of the limited supply and the price increase for the remaining 37 percent of the Miami real estate inventory. If you are supposed to get a residential property in Miami this year, then go for it. Despite the price increase, it is safe to say that Miami is one of the most stable residential property markets in the United States today.

There are already countless rumors going on in terms of new developments in Miami. While some are plausible, you must still consider your options whether you want to wait for the new developments or settle with the existing residential properties on the Miami investment property market. If you find yourself skeptical about the price increase then it is safe to say that the prices will not change even if newly developed residential properties come which is why people who have the money to purchase a property in Miami today should not think twice because any real estate purchases are going to be more expensive if you wait any longer.

Joan Vonnegut