Miami single-family, condo prices rise again in January

MIAMI – Miami existing condominium and single-family home sales rose in January as $1 million-and-up luxury transactions jumped for all properties, according to a new report by the MIAMI Association of REALTORS (MIAMI) and the Multiple Listing Service (MLS) system.

Price growth was stronger in Broward than in Miami-Dade. Single-family home prices increased 4.2 percent to $370,000, and condo sales prices jumped by 7.1 percent to $180,000. Palm Beach County

How to Time Miami’s Condo Market. Apartment #1815, a 945-square-foot one-bedroom, sold in mid-March for $285,000, or $302 per square foot. The seller pocketed a $93,225 gain (net of a 6% commission) after buying the apartment five years earlier in the depths of the real estate slump.

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Massachusetts housing prices rose once again. In May, the median price for single-family homes under agreement slid past $400,000 for the first time in 2018 and the third time in the past year, according to the Massachusetts Association of Realtors. Prices rose 5.7 percent, from $383,000 to $405,000. The median price for condos under agreement.

Median Prices Rise for All Properties. Miami-Dade County single-family home prices jumped 10.7 percent in May 2017, increasing from $293,500 to $325,000. Miami single-family home prices have now risen for 66 consecutive months, a streak spanning five and half years. existing condo prices increased 4.8 percent, from $214,750 to $225,000.

CoreLogic: 28.3 percent of mortgaged homes in Miami underwater In Q2 2016, the total number of mortgaged residential properties with negative equity stood at 3.6 million, or 7.1 percent of all homes with a mortgage. This is a decrease of 13.2 percent quarter.

Miami-Dade. Sales of those properties increased 22.5 percent in January, from 476 in 2016 to 583 last month. Residential prices in Miami, meanwhile, continued to rise for the 62nd consecutive month. Asking prices for single-family homes rose by nearly 15 percent in January 2017, up from $270,000 to $310,000.

The average price of a condo in Miami-Dade County is down 43% to $151,000. In Broward County, the average home sale is down 30% to $219,500 and median condo prices are down 40% to $82,100. In the state, the average cost of a home is $141,300, down 30% from the year before and the median condo cost is $108,800, 37% less than the year before.

Price action hit a wall in the south florida residential market. Today we will look at the median sale prices of single-family homes and condos in Miami, Fort Lauderdale, Boca Raton and surrounding areas. Existing home sales on a national level look like they are exhausted as well. South Florida was ground zero during the last housing crash.