Miami-Dade County real estate posted a robust third quarter as total residential sales, single-family home transactions, existing condo transactions and median prices grew compared to the same period in 2014, according to a new report by the 40,000-member MIAMI Association of REALTORS(R) (MIAMI) and the local Multiple Listing Service systems.
Miami-Dade County had 7,811 total residential sales in the third quarter of 2015, a 2.3 percent increase compared to the 7,632 sales in the third quarter of 2014. Single-family home transactions rose 4.1 percent, growing from 3,522 to 3,699. Despite a rise in supply of Miami pre-construction condo units east of Interstate 95, existing condo transactions increased 0.8 percent from 4,080 to 4,112.
“Miami real estate remains a bargain compared to other world-class global cities,” said Christopher Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI. “Miami single-family home prices are at 2004 levels, considerably lower than world cities such as New York, London and Hong Kong. Today’s prices coupled with historic-low mortgage rates and South Florida’s diversified job market are encouraging more consumers to purchase property in Miami.”
At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.