Miami's Real Estate Continues To Be Robust - Median Prices Increase For All Properties
MIAMI — Mid-market Miami single-family home sales increased as prices for all properties continued their upward trend in October, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
Sales for mid-market Miami single-family homes, or properties listed from $300,000 to $600,000, increased 18.9 percent in October, from 317 to 377.
“Miami’s evolution into a world-class global city is attracting domestic homebuyers from throughout the United States,” said Mark Sadek, a Coral Springs Realtor and the 2016 MIAMI chairman of the board. “The middle of our market continues to see growing demand. Homebuyers want to live in a young global city with top-flight art, culture, entertainment and education.”
Median sale prices for single-family homes jumped 17.0 percent, increasing from $265,000 to $310,000. Existing condos experienced 7.0 percent price growth, climbing from $200,000 to $214,000. Miami single-family home prices have risen for 59 consecutive months. Condo prices have increased in 63 of the last 65 months, a streak spanning more than five years.
Request Merrick Manor Unit Information
Mediterranean Style Residences in the Heart of Coral Gables.
Expansion of Cruise Terminal F breaks
ground today at PortMiami
The $37.5M project is expected to boost revenue by $3.5M
A $37.5 million expansion of PortMiami's Cruise Terminal F breaks ground today with Munilla Construction Management holding a kick-off ceremony later this morning.
The project’s initial phase features the reconfiguration and renovation of the three-story passenger terminal. Phase 2 involves constructing a three-story addition east of the preexisting terminal to accommodate “embarkation functions such as support offices, waiting areas and restrooms,” per the release, while Phase 3 is the building of “a third-level sterile concourse corridor connecting the existing terminal with the new addition.”
Biltmore Hotel - Holiday Soiree
Celebrate the season at the annual Club at the Biltmore Holiday soiree! Enjoy a beautiful night of dancing, buffet dinner, wine, seasonal specialty cocktails and entertainment. Reservations required and must be 21+ to attend.
From now through December 12,
Members $40; General Public $50
After December 12: Members $60;
General Public: $70.