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February 12, 2016
Miami real estate flourished in 2015. Miami-Dade County saw 29,886 residential sales, which was the third-best year on record. Of those sales, 13,936 were single-family homes and 15,950 were condominiums.
The median price of a single-family home in 2015 was $265,000, a year-over-year increase of 8.2 percent. The median price of a condo in Miami was $200,000, an increase of 5.3 percent. There were also fewer sales of distressed properties. In 2015, distressed properties accounted for 27 percent of home sales, compared to 34 percent in 2014. Housing inventory held relatively steady, with an increase of only .6 percent from the previous year.
For the latest news and information on Miami real estate, contact Niki Higgins at +1-954-817-2500 or +1-888-242-4422.
Source: The Real Deal
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