The Miami Luxury Real Estate had an excellent first quarter of 2015 with an increasing demand from domestic and international buyers. The report made by the Miami Association of Realtors exposed that Miami-Dade County has now seen thirteen consecutive quarters of prices growth for single-family homes and condominiums.
The President of the Miami Association of Realtors, Christopher Zoller, explained “Miami’s recent emerge as a cultural and art destination as well as its budding technological hub and world-class amenities are attracting more international and domestic buyers.”
Miami saw an increased sales price for single-family to $250,000, an 8.7 percent jump compared to the same period from 2014. Also the condominiums increased as well to $196,500, and 4.8 percent more than last first quarter of 2014. In the rest of the country this numbers were not as good, showing that the market in Miami is getting better.
The market in Miami grows 2.7 percent with 6,931 total residential sales in the first quarter of 2014, also a 1.7 percent increase in new listings for single-family homes, and 0.7 percent for condominiums. For $1 million-plus homes, the median sales saw a 2.3 percent rise, with 94 median days on the market. Cash sales represented 49.6 percent of all closed sales in the first quarter of this year.
If you want to be part of the growing Miami Real Estate by owning a Miami Luxury Condo, contact Ceiliah Epner 786-479-5503 or Ceiliah@ceiliah.com
Blog written by Ceiliah Epner
