Miami condo prices jump 24 percent in October

The median sales price for condominiums in Miami-Dade County rose 24.2 percent to $146,000 in October, compared to the same month in 2011, according to data from the Miami Association of Realtors. Single-family home prices saw a 5.8 percent increase in median sales prices to $185,000 in the same period. Sales activity also increased, rising 24.2 percent, with a 41.9 percent increase in single-family home sales activity. “Intense demand for Miami properties continues to fuel robust price appreciation,” said Martha Pomares, 2012 chairman of the board of the Miami Association of Realtors. “Demand from investors, foreign and vacation buyers as well as U.S. and local residents remains very strong.” — Alexander Britell