Seize the Moment Miami Property Prices Still at 2003 Levels

Miami property prices have been climbing steadily in the last years but the bottom line is that property prices are at 2003 levels and mortgage rates are still at record lows.  This is still an ideal scenario to invest in your future home, in your summer home or an income producing property.

Median single-family home prices rose about 25 percent in Miami-Dade and Broward from March 2012 to 2013. Median prices for condos and townhomes rose 19 percent in Miami-Dade and 27 percent in Broward in the same period. “But the median price for a single family home in Miami-Dade is still 40 percent below the peak in 2008,” said Lynda Fernandez, spokeswoman for the Miami Association of Realtors.  "Prices are still at 2003 levels. Prospective buyers need to know that the real estate market is heating up, but overall, prices are still down," added Fernandez. 

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