Miami Set To Take A Bigger Step Up After Leading Real Estate Boom In All Of The Florida State
According to the Miami Association of Realtors, the most recent data show that single family home purchases have increased as much as 47 percent, plus with condo sales of 33 percent – it is believed to be one of the most successful years in a long time for the real estate market in Miami.
Compared to last year’s ratings, you can really consider Miami to be bouncing back every year as the real estate market of Miami find ways to better themselves with a huge pile of oversupplied real estate properties ranging from single homes, luxury homes, condos and apartments.
Having as much as 21 percent increase in sales this year is really a positive experience for the real estate market as they are now looking for new ways to develop newer markets for buyers and investors all over the globe.
Now that the housing properties have dramatically declined this year, it is evident that more real estate developments will take place in the near future, provided that there are always more than hundreds of interested property buyers taking interest in Miami on a monthly basis.
If more cash transactions take place in the Miami market, expect a much quicker recovery in the real estate market especially since the median sales price has decreased by 8 percent in June, 2011 for single family home properties. It is truly a wonderful day for the real estate market of Miami!
Quentin Battle
Daily News Miami