Sales and prices increase in miami area

Residential property sales in Miami have ended the year well up and prices of condos have risen for the fourth month in a row, according to figures from the Miami Association of Realtors.

Sales of existing single family homes in the Miami Metropolitan Statistical Area (MSA) rose 11% in November compared to November 2010, and sales of existing condominiums increased 2%.

The median sales price for condominiums rose for the fourth consecutive month, up 18% to $125,000 while the median sales price of single family homes remained the same at $171,300 compared to a year earlier.

Source: Property Wire