Rise of Median Prices in Miami for 27th Consecutive Quarter Rise of Median Prices in Miami for 27th Consecutive Quarter

Rise of Median Prices in Miami for 27th Consecutive Quarter

Wednesday, November 28, 2018

Median prices for single-family homes in Miami-Dade County increased to $360,000 during the third quarter, an 8.5 percent increase from $331,750 in the same period of 2017. Median prices for existing condominiums increased 3.3 percent year-over-year from $227,500 to $235,000.

Median prices have now increased for 27 consecutive quarters, a streak spanning for over 6 years.

Throughout the state of Florida, the median sales price for single-family existing homes in 3Q 2018 was $255,000, an increase of 6.3 percent from the same time a year ago, according to Florida Realtors. The median price throughout the state of Florida for condo-townhouse properties during the quarter was $182,500, up 6.1 percent over the last year’s figure.

According to the National Association of Realtors, the national median existing single-family home price in the third quarter was $266,900, up 4.8 percent from the third quarter of 2017 ($254,700).

Looking to Buy, Sell, Rent or Invest in Real Estate in Miami? Call The Elite Team @ 305-525-9777.

 
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