The Real Deal Miami

Miami condo prices up 36 percent: report

October 29, 2012 10:30AM

The median sales price of condominiums in Miami-Dade County rose 36.2 percent in September compared to the previous year, according to a report from the Miami Association of Realtors. The median condo sales price, which has increased for each of the last 15 months, rose to $150,000 in September compared to the same month in 2011. The median single-family home price rose 8.6 percent to $190,000. “The Miami real estate market continues to strengthen despite the shortage of housing inventory,” said Martha Pomares, 2012 Chairman of the Board of the MAR. “We’ve seen nearly an entire year of significant monthly price increases, which makes now a great time to sell a home.” — Alexander Britell