Get Miami Real Estate Market Analysis in New Homes.org Report

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The most recent Homes.org market report details the current real estate market in Miami, FL providing analysis on the latest trends and forecasts for what's to come this year based upon activity and recent sales in the city.

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Record demand for Miami properties has caused inventory to rapidly decline, resulting in limited supply. Now home prices in Miami are significantly rising and sooner than expected.

There's good reason why Miami is on people's list for the top recovering real estate markets, including the Homes.org Top 9 Real Estate Markets to Watch in 2012. The most recent numbers suggest that the Miami real estate market is on the mend and 2012 will build on the momentum that began in 2011.

"Never before in history had we sold as many homes in Miami as we did last year. . . there are fewer properties available to sell, and it will be difficult to match the record set last year," explained Patricia Delinois, Residential President of the MIAMI Association of REALTORS.

While that might sound like a bad thing it's welcome news to Miami real estate agents.
The declining inventory in January, which is down 37% since the same time last year, is indicative of increased interest. Chairman of the Board of MIAMI Association of Realtors, Martha Pomares explained, "record demand for Miami properties has caused inventory to rapidly decline, resulting in limited supply. Now home prices in Miami are significantly rising and sooner than expected."

Unlike other areas of the country, international buyers that purchase with cash are a big part of Miami's recent recovery. Read on to see specific sales figures and reporting for the Miami real estate market.

Miami Real Estate Market Latest Information and Statistics

Counties: Miami-Dade County

Zip Codes in the City: 33010-33299

Population (City): 399,457

Population (Metro): 5,547,051

Total Households(2006-2010): 7,152,844

Median Home Value (2006-2010): $205,600

January 2012 Average Sale Price for Single-family homes in the Miami-Dade area: $334,952

January 2012 Average Sale Price for Condos in the Miami-Dade area: $248,443

January 2012 Median Sale Price for Single-family Homes in the Miami Metro area: $170,000

January 2012 Median Sale Price for Condos in the Miami Metro area: $122,500

January 2012 Homes Sales in the Miami Metro area:

  •     Single Family - 659
  •     Townhouse/Condos - 1,058

Foreclosures (Miami-Dade County): 1 in 265

Renters vs. Owners: 30.3% vs 69.7%

Type of Home:
9% Single Family
16% Condo
75% Other

Popular Miami Neighborhoods Seeing Improvement in Sales

  •     Coral Way
  •     North / East Coconut Grove
  •     Overtown
  •     South / West Coconut Grove
  •     Wynwood / Edgewater

To learn more about real estate in Miami, FL or to search for Florida home listings in other cities, please visit: Homes.org

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Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.

About Star Nine Ventures®

Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine's core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

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Ace Elliott
Homes.org
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