Condos = Value: Miami Single-Family Home Prices Reach Record Highs for Fifth Consecutive Month

miami condos compared to homes and the value

Single-family home prices are simply out of hand in Greater Miami, leaving condominiums as the best opportunity for today’s buyers to purchase a residence in the area at a reasonable value.

A new report from the Miami Herald shows that the median sales price for a single-family home in Miami-Dade County set a new record in January. This is the fifth consecutive month that record highs were reached. The median sales price in January was $469,500, an increase of more than 25% from January 2020 and more than 3% from December 2020.

This trend is not reversing course any time soon, as Greater Miami is essentially out of available land to build new single-family homes. Condos remain a “relative bargain,” according to the Herald. Buyers are taking notice, as Miami-Dade condo sales surged 28.1% year-over-year in January.

Merrick Manor is the only brand-new condominium offering in Coral Gables. It is truly the last chance for $500,000-and-up buyers to acquire a condo in the city for the foreseeable future. Buyers can take advantage of the unprecedented mortgage rates and enjoy the stress-free convenience of condo ownership in the City Beautiful.

Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor also has a Zillow Walk Score of 77, making it “very walkable.”

Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.

For more information about the residences at Merrick Manor, visit the Sales Gallery on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.

For more information about the Commercial spaces at Merrick Manor please call ONE Sotheby’s Manny Chamizo III (786) 486-6655.