The trend is simply undeniable. Miami is undoubtedly a safe place to invest in Real Estate. While most of the country is still dragging trying to recover in Miami we are already experiencing a shortage of inventory as the prices have been steadily increasing for 14 consecutive months.
Following the second consecutive record sales year, the Miami real estate market started 2013 strong with rising sales and prices amid limited supply, according to the 25,000-member MIAMI Association of REALTORS and the local Multiple Listing Service (MLS) system.
Miami-Dade County residential sales increased 7.5 percent in January compared to a year earlier. The sales of existing single-family homes in Miami-Dade increased 19.1 percent, from 691 to 823. Sales of existing condominiums increased 0.3 percent, from 1,121 to 1,124, year-over-year.
“The consistent strengthening and improvement of the Miami real estate market is generating much excitement and attention both domestically and internationally,” said 2013 Chairman of the Board of the MIAMI Association of REALTORS Natascha Tello. “We expect prices to continue to rise as a result of the significant demand that currently exists for both sales and rentals. While more new listings are coming on the market, there still is insufficient supply to satisfy consumer demand and significant fewer new listings in the lower price ranges.”
Source: Miamire.com
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