Miami property prices up for two years in a row

Miami property prices have been rising consistently for the past two years, according to the Miami Association of Realtors.

The figures show that the median sales price for existing homes in the city surged 19.2 per cent year-on-year in November 2013, while listings rose 11.4 per cent across the same period.

“The double-digit growth in the listings of single-family homes and condos reflects the fact that homeowners are realising it’s a good time to sell,” said 2013 Chairman of the Board of the MIAMI Association of REALTORS Natascha Tello. “The Miami real estate market continues to attract international buyers from all parts of the globe as well as domestic buyers because of our unparalleled lifestyle, cultural opportunities and the robust growth in our local real estate in recent years.”