Despite the fall of South Florida’s real estate market, as of Summer 2012, we’re seeing signs of growth and activity and watching the market begin to heal.
In Miami-Dade County, the median sales price for single-family homes rose 14 percent from the first quarter of 2011 to the first quarter of 2012, while the mediate sales price for condominiums rose 38 percent, according to the Miami Association of Realtors and the local Multiple Listing Service systems. The total housing inventory in Miami-Dade County decreased more than 35 percent, a huge pointer to the hopeful future of South Florida’s real estate market.
In Broward County, the median sales price for single-family homes rose 17 percent and condominiums rose 17.4 percent from April 2011 to April 2012.
South Florida’s real estate market is a haven for buyers from Latin America, Europe, and Asia, who represent 80 percent of new buyers in South Florida. South Florida boasts a real estate market of excellent value compared to cities like Rome, Paris, Hong Kong, Bogotá, and Rio.
Summer 2012 seems promising in the growth and strengthening of South Florida’s real estate market.
Meridian Trust Investments has been making successful real estate deals in the Florida marketplace with buyers and sellers at all levels for over a decade. Our business continues to grow and flourish despite the challenges the real estate market has experienced. Our clients can consistently count on us to find the best deals, close on those deals and get the property ready to rent or resell.
To learn more about real estate investments, short sales and foreclosures in South Florida, contact us today. www.wesellcheaphomesnow.com