Miami home sales rise in march

Sales of existing homes in Miami-Dade County rose 59% year-on-year during March, according to new figures released by the Miami Association of Realtors.

The number of condominiums changing hands in Miami-Dade during the period was up 85% year-on-year.

The median sales price of single-family homes in Miami-Dade dropped 19% year-on-year to $159,800 (£98,707) in March, while condominium values reached $97,400 (£60,159), down 30%.

Overall, house prices in the region have dropped more than 55%, in comparison to June 2006, leaving property values back at 2002 levels, according to the Miami Herald.

Source: Assetz