According to press that’s just a few hours old, 2014 was another record year for Real Estate Sales in Miami; with the city selling more single-family homes than any other year in history. Meanwhile the average sales price on condos was up an incredible 19.9% for the third straight year of double-digit gains in that segment of the market.
Non-distressed Miami single-family home sales increased. Miami’s population growth and growing economy is leading to a significant demand for new properties. Fifty condo towers with 4,851 units.
Third quarter sales rose in all three counties in South Florida, year-over-year, after months of home sales increases. Home prices also continued growing in Miami-Dade, Broward and. why sales.
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As we all know, the property tax situation has gotten completely out of control, and everyone who owns South Florida Real Estate has seen their property taxes jump sharply. Doesn’t matter if you own Miami Beach Condos, Fort Lauderdale Luxury Homes, or Downtown Miami and Brickell Condos, we have all been hit by the tax increases.
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“Throughout much of this housing cycle, growth in single-family home sales has outpaced that of condos and townhouses, but in January – for the first time since November 2015 – this was not the case, though one month’s worth of data alone doesn’t indicate a long-term trend,” stated Florida Realtors Chief Economist Brad O’Connor.
By Sales of existing homes in Miami-Dade and Broward counties continued to show significant year-over-year growth in July.
· Home sales in September were up 3.2 percent from a year ago. Year-to-date homes sales were up 4 percent compared the same period last year. Strong buyer demand this fall has kept the market moving at a fast pace.
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The association’s report shows a total of 1,168 single-family homes sold in Miami-Dade last month, down 5.8 percent compared to March 2015. Condos fared worse with. the mid-price ranges registered.
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For example, in Miami-Dade County, sales of existing, single-family homes and condos increased to 5,839 sales for the three months ended Dec. 31, up from 4,722 a year earlier.
According to the Miami Association of Realtors, non-distressed Miami single-family home sales. growth and growing economy is leading to a significant demand for new properties. Fifty condo towers.