Property Prices On The Miami Real Estate Market Increase Steadily In The First Quarter Of 2012
Nowadays, people who have been hoping to find reasonable prices on properties for sale within the region might find it harder to do so since there is a limited housing supply on the Miami real estate market. But aside from the limited number of options on the market, the strong demand for real estate within the region has forced prices up within the first quarter of 2012.
If you happen to be one of the many property buyers who would like to purchase real estate within the Miami-Dade County area, you might have to set aside extra money in order to push through with your purchase as the median sales price for single-family homes within the area have gone up by as much as 14 percent to $174,799 in the first quarter of 2012. Such figures have been drawn in comparison with prices in the first quarter of 2011.
On the other hand, the median sales price for condominium properties within the area has seen a year-over-year increase of as much as 38 percent which brings the median price up to $129,500.
There is no denying that today’s international property buyers and investors continue to make such a positive impact on the Miami real estate market as a whole. The fact that the region still receives so much attention from people who are willing to invest within Miami is definitely something that will prove to be beneficial for the region in the upcoming months.
People who are curious to learn about what factors would further help boost the local market can continue to hope the tight credit situation loosens up in the near future as doing so will definitely influence property buyers who are merely held back by the fact that acquiring credit can be quite a challenge nowadays.
Nevertheless, stronger consumer confidence alongside improved employments rates are pulling the market up into a much better situation now that it has seen a decrease in its inventory of up to as much as 33 percent compared to the first quarter of 2011 and as much as 13 percent compared to the fourth quarter of the same year.
As of today, there are 12,027 active listings within the Miami-Dade County area. If you would like to information on available options on today’s market then you need to get in touch with an agent that can provide you the assistance that you need.
Yaz Morgan
Miami Real Estate
