Miami real estate market forges ahead with sales and prices, latest data shows

Sales of residential property in Miami, Florida, are continuing to rise as the area records sales activity and leads the real estate recovery.

Sales of existing single family homes in the Miami Metropolitan Statistical Area (MSA) rose 46% in September, figures from the member Miami Association of Realtors show.

Sales of existing condominiums increased 58 and statewide sales increased 10%. Nationally, sales of existing single family homes, townhomes, condominiums, and co-ops declined 3% from the previous month and but were 11.3% above September 2010, according to the National Association of Realtors (NAR).

‘We continue to experience record sales activity coupled with rising median and average sales prices in the Miami real estate market,’ said Jack Levine, chairman of the Board of the Miami Association of Realtors.

Source: PropertyCommunity.com