South Florida Real Estate Market is Booming.

Second story of the house
Second story of the house

Real estate market is booming.

Miami is among 15 booming real estate markets that are trending in 2018, according to Forbes Real Estate Council. This article says that Miami metropolitan real estate is booming, because of “tax advantage, and most importantly, price per square foot, which is substantially lower then average.”

Lets see what are the numbers separately for Miami-Dade County, Broward County, and Palm Beach County:

Single family homes for sale:

Homes for Sale in South Florida. 4_4_2018
Homes for sale in South Forida as of 4_4_2018. Broward, Miami-Dade and Palm Beach Counties.

From the table above we can see that median price for single family homes in the highest in Miami-Dade County at the price of $579,900.

Square footage median for a listing is also highest in Miami-Dade County and is $264.71 per sq/ft.

Condos for sale:

Condos for Sale in South Florida.4_4_2018
Condos for sale in South Forida as of 4_4_2018. Broward, Miami-Dade and Palm Beach Counties.

When we look into detail listing information about the condos for sale, we see that the most condos are available in Miami-Dade County. There are 14,335 condos for sale right now in this county.

The median list price in Miami-Dade County is the highest at $434,000, which is more then double when comparing with Broward County and Palm Beach County.

Townhomes for sale:

Townhomes for Sale in South Florida. 4_4_2018
Townhomes for sale in South Forida as of 4_4_2018. Broward, Miami-Dade and Palm Beach Counties.

From the table above, we can see that listing prices for townhomes in all three counties is some what similar- all are in lower 300’s. But again, Miami-Dade County is the highest liting price at $340,000.

 

The numbers I used to make this table were taken from the MLS of the Palm Beaches & Greater Fort Lauderdale. These numbers are said to be reliable but are not guaranteed.

If you are interested in more information about home sales, please visit Local Market Conditions and Home Prices category.

If you are looking for a house to buy, let me know and I will help you to find your future home. If you would like to sell your current home, let me know and I be glad to help you to sell it.