Luxury condo sales pushing up sales and prices in Miami
Luxury condo sales in Miami are soaring as demand grows from real estate investors and buyers from overseas. Local Multiple Listing Service (MLS) data shows million dollar condominium unit sales grew 61.3% last month compared to sales figures for April 2012. This increase helped grow overall condo sales by 18.7% year on year. Single family home sales also rose this April, up 15.2% last month compared to April 2012.
Figures also show that throughout the state of Florida sales of existing single family homes increased by 17.4% compared to a year ago and condo sale were up by 13.6% from April 2012. This is substantially more than national sales with existing single family homes, town homes, condominiums, and co-ops up by 0.6% from March and 9.7% higher than they were in April 2012, according to the National Association of Realtors. [click to continue…]
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