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Miami coastal condo prices up 30 percent; sales activity highest since 2006

ocean house in Miami BeachThe average sales price of condominiums in Miami raised 30.1% total sales activity in the fourth quarter, reaching the highest level since 2006. Miami’s single-family market with the most activity with 22.8% jump sales to 2,028 in total, while condo sales activity rise 9% to 3,178. Total of 5,206 units bought in the final three months of 2012. Data checked Miami’s coastal society, from pine crest in the south to surfside in the north. Within the luxury market presented the upper 10% of all sales, the average condo sale price was $1.8 million up to 32.6% last year. On the single-family side, the average sales was $1.4 million a 30.1% increase. More critically the fall of market share held by trouble inventory fell from 40.2% smallest share in more than three years. An increase of 3.4% in condo sales and 12.8% rose in single-family home prices.

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