Property sales and prices up in miami

Miami is continuing to buck the trend in the United States real estate market as sales and prices rise above the national average, the latest figures show.

Sales of existing single family homes in the Miami Metropolitan Statistical Area (MSA) increased 49% in August and sales of condominiums went up 60%, according to the data from the Miami Association of Realtors.

Nationally, sales of existing single family homes, town homes, condominiums, and co-ops increased 7.7% from the previous month and were 18.6% above August 2010, according to the National Association of Realtors (NAR).

‘The fact that home prices are rising despite distressed sales that account for the majority of sales is indicative of very positive trends in the Miami marketplace,’ said Jack Levine, 2011 Chairman of the Board of the Miami Association of Realtors.

Source: PropertyCommunity.com