Yup, the trend continues. You would think there would be a little bit of a slow down in the Miami-Dade real estate game, but May’s report from the Miami Association of Realtors shows growth yet again. Amazing growth month after month, quarter after quarter, and year after year is making the Miami area a refuge for those looking to diversify their holdings.
May Miami-Dade Real Estate Growth
Real estate growth in the area shows a huge leap from May 2012 to May 2013. Single family homes in the area increased in sales by a total of 18.5 percent as compared to the year before. The increase in sales is creating a sort of a loop of interest. People are interested in purchasing, thus making real estate stats rise. Because the stats rise, more buyers are interested.
It is a profitable, profitable viscous cycle.
Sales rates were not the only thing increasing in the May Miami-Dade real estate growth study. The average sales price for single family homes in the area saw some amazing growth. A total of 10.8 percent average growth in price occurred from the year before to now. The average price leaped to $408,021 for a pretty astounding total.
Growth in Homes AND Condos
Single family home sales growth does sound pretty good, but condominiums in the Miami-Dade real estate market are also growing in price month over month. In just one year, the price of condominiums in the area rose a total of 20.5 percent. The average condo priced topped out at $370,843, a significant raise from just twelve months ago.
The same investment cycle is occurring with condominiums. Increased interest causes interest in that interest, and so on and so on. Miami-Dade real estate agencies are seeing a significant rise in clientele and business. Choosing the right real estate agency to navigate the market, however, can be an extremely difficult thing to do.
Searching for the perfect single family home or high priced condominium is not easy. These investments take time and research, but there are plenty of services out there dedicated to helping. If the trend continues, which is likely to occur, the Miami-Dade real estate market might be the most secure investment available.