It’s been said that ‘cash is king’ when making purchases and nowhere in the country is that more true than South Florida when it comes to buying a home.
Several Florida metro areas led the pack when it came to short sales of homes in April. Orlando, Lakeland, Tampa, and Palm Bay had the highest rates of short sales in the nation, according to the research firm RealtyTrac.
Sales of single family home sales in the state were up nearly 20% compared to the same period last year. Florida Realtors said 18,490 sales closed statewide on existing single-family homes in September, and increase of 18.8% compared to last September.
Downtown Miami is enjoying a renaissance of sorts in the real estate market as condo sales boom after completely crashing in 2009. Now, cash is required and getting your hands on a stylish condo is getting tougher.
Despite a lagging economy, South Florida’s housing market continues to improve. The median price for an existing single-family home in Miami-Dade rose 5.8 percent to $185,000 in October from a year earlier.
Some good news for single family homes and condos in Miami-Dade County; sales saw a double digit jump in May.
The economic recovery may be years away from ending, but there have been some steady gains in South Florida and across the country that is giving some economists hope heading into the second quarter starting Sunday.
Home prices were up across the board in Miami-Dade and Broward counties in January. That’s according to the Miami Association of Realtors which said in January the average sales price for single-family homes in Miami-Dade increased 40.4 percent.
The numbers are out for Florida home sales in 2011, and the news is good for Miami-Dade. The once-stagnant real estate market is showing signs of vigor, as sales in Miami-Dade outpaced statewide numbers by more than 4 to 1.
America’s housing bubble went bust when the mortgage mess began.