Miami Sales set a New Record in 2012 exceeding 2011

Great News for all current and future residents and investors in Miami.

According to the Miami Association of Realtors, Miami home sales set a new record in 2012, exceeding the previous record set in 2011 and even the height of the real estate boom in 2005. 

The Miami real estate market cemented a strong comeback in 2012, as prices posted double-digit appreciation and sales rose despite a housing inventory shortage.

Year-end sales of single-family homes in Miami-Dade County rose 7.9 percent to 11,463 in 2012 compared to 10,625 in 2011.  Sales of condominiums in 2012 increased 1.2 percent to 16,383 compared to 16,187 in 2011.

Miami-Dade County residential sales increased 12.5 percent in December compared to a year earlier.  The sales of existing single-family homes in Miami-Dade increased 16.4 percent, from 892 to 1,065.  Sales of existing condominiums increased 9.8 percent, from 1,270 to 1,395, year-over-year.

Source: NAR

To Buy, Sell or Rent Properties in Miami go to http://www.JuanSolerRealtor.com