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2013 Mid Year Miami Real Estate Market Update

By
Real Estate Agent with ONE Sotheby's International Realty

Miami New Construction

New projects are starting each month, and prices are expected to continue to rise for the rest of 2013. The high-end luxury Miami real estate market is continuing to rise and the real stand out in the sales volume is the number of ultra prive properties over $10 Million that saw an impressive 50% increase in transactions in the first 6 months of this year.

Miami Real Estate

The Miami real estate market is continuing its strong growth as home buyers continue to increase their purchase power and inventory continues to drop. Home sales have increased at a strong and steady rate, which has also resulted in price increases. Distressed properties are starting to disapear from the market-a very good sign for the strong increase in sales volume-and overall distressed peroperties only make up 16% of the homes available on the Miami real estate market.  Learn more at the Sunny Isles Miami Real Estate Blog.