https://www.the1031investor.com/wp-content/uploads/2018/08/canstockphoto140806.jpg 1488 2240 Dave Foster https://www.the1031investor.com/wp-content/uploads/2018/08/the1031investorLogo135x80.png Dave Foster2018-08-04 17:24:492018-08-08 17:57:22Luxury Home Sales in Miami Surge While Starter Homes Remain in Short Supply
Luxury Home Sales in Miami Surge While Starter Homes Remain in Short Supply
2018 has been a great year for luxury home sales in South Florida. According to a new report by the Miami Association of Realtors, luxury real estate sales of properties over $1 Million have increased 21.5% and posted year-over-year increases in the last 6 of 7 months. Luxury condos are continuing to take the lead with sale increasing as much as 28%.
Homes valued under $600,000 are still facing severe supply shortages. Prices on single-family homes in Miami have continued to rise as lack of inventory and high demand plague lower tier markets.
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