Why is the Miami real estate market burning so hot? | Pound Ridge NY Homes

 

Strong demand for real estate in the city styled the “Capital of Latin America” resulted in a third consecutive record sales year and two years of double-digit price appreciation.

That’s the word from the 31,000-member Miami Association of Realtors and the local MLS down in the land of Cuban press sandwiches, sunshine, salsa and sexy swimwear.

“Record demand for Miami properties from both domestic and international buyers resulted in another sales record in 2013,” said 2014 Chairman of the Board of the MIAMI Association of REALTORS Liza Mendez. “We expect strong demand to continue in 2014 for Miami real estate but are encouraged that more homeowners are listing homes for sale, creating more balance between buyers and sellers.”

There were 30,041 homes and condos sold in Miami-Dade County in 2013, setting a new annual record that is 8% higher than the previous record set in 2012. Sales of single-family homes last year totaled 12,901, an increase of 12.5% compared to the previous year’s total of 11,463. Condominium sales increased 4.6%, from 16,383 in 2012 to 17,140 in 2013.

 

http://www.housingwire.com/articles/29031-why-is-the-miami-real-estate-market-burning-so-hot

Leave a Reply

Your email address will not be published. Required fields are marked *