The Real Deal Miami

Miami home prices climb 14.5% year-over-year

October 02, 2013 11:00AM

Home prices in greater Miami area remain on a higher plane than this time last year. They rose 14.5 percent in August year-over-year and increased slightly — by 1.4 percent — from last month, according to data from CoreLogic.

If not including distressed sales, prices in the Miami-Miami Beach-Kendall metro area grew by an ever wider margin – 17.6 percent – in August. There was a 2.3 percent increase from last month.

Statewide, prices, including distressed sales, jumped 12.7 percent year-over-year.

Now that South Florida home prices near the peak of the last boom, analysts are projecting a reverse in the trend. Prices in Miami-Dade County, for example, are expected to drop 2.7 percent from the first quarter of this year to the first quarter of next year, as previously reported. [Miami Herald] Mark Maurer