In the first quarter of 2012, there was a predominance of demand over supply in the Miami real estate market, which stimulates price growth, according to an online source Property Wire, with reference to the latest data from the Miami Association of Realtors.
In the first quarter, experts note a decrease in the number of offers and an increase in demand and cost of housing in Miami-Dade County in the state of Florida. During this period, the average cost of a single-family home increased by 14% compared to the same period in 2011 and amounted to $174,799. Real estate in condominiums has risen in price by 38% on average over the year and now costs $129,500.
Despite a slight decrease (1%) in sales in the first quarter of 2012 compared to the previous quarter, sales in Miami remain high due to foreign buyers and investors. For the year, sales of single-family homes increased by 4.1%, while sales of properties in condominiums fell by about 4%.
HomesOverseas.ru