Miami and the South Florida market continues to growth abruptly and becomes more hot every month.
According to the Miami Association of Realtors the condominium and home sales prices rise by double digits during the month of July and more single homes and condominiums were sold in Miami-Dade county than at any time since the real estate boom in 2005.
The Miami Association of Realtors reported that the median price of single family homes rise 25.7% in july, which consists of prices of $230,000 from $183,000 in 2012.
Condo sales in Miami dade rose 13.4 percent in july to 1,538 closings from 1,356 in july 2012 according to the Miami Association of Realtors.
So what is driving the market to be so hot at this moment? The answer will be supply and demand. Supply because there isn’t much and demand because there are many international buyers wanting to invest in Miami and many buyers are want to get lower interest rates since mortgage interest rates are rising every day more.
I believe buying a condo right at this moment is the best decision for your pocket because the supply for apartments and especially under construction condos is available, but there is so much demand to get this apartments that by watching any economic model and the reports right now for sales in Miami, prices will rise. Especially under all this changes that the city is living where more condo projects and new construction is across all over the city.
There are many condos already built in Miami that are worth every penny and will be worth a lot more and there are many under construction that are taking Miami to the next level.
I will blog about all this amazing and great oportunities in Miami and I will tell you all that you have close by that will make you want to buy and live in Miami in a heartbeat. So, follow me and let this amazing journey to get to know Miami and its amazing Real Estate continue….