The Real Deal Miami

Lower prices at Miami home auctions


March 12, 2010 09:51AM

A new flood of cheaper properties means more homes in the $250,000 range and below, according to a report from Bal Harbour-based real estate consultancy Condo Vultures. There are more than 13,000 house and condo listings at or below that price in Miami-Dade County, with nearly 14,000 in Broward County, the report said. These homes tend to be on the western side of I-95, where properties, whose value has not increased like their eastern counterparts closer to the coast. The increase in the number of auctions has lowered home prices to the extent that , according to the report, of 41,000 homes on the market, 67 percent fall in the $250,000-and-below range. TRD