Miami-Dade County single-family home prices increased 3.6 percent in February 2018, increasing from $321,000 to $332,500. Miami single-family home prices have risen for 75 consecutive months, a streak spanning more than six years. Existing condo prices rose 4.5 percent, from $220,000 to $230,000 in February. Condo prices have increased in 78 of the last 81 months.
This is good news for sellers, showing that the trend of home price appreciation is continuing to go up. When you’re ready to buy or sell, call me for a comparative market analysis of the area and the exact type of home you’re looking for in any neighborhood in Miami or Broward counties.
For buyers, it makes sense to buy now before interest rates for mortgages go up anymore. 30 year mortgage rates are at 4.29% — still very reasonable but economists predict they will continue to climb. 15 year fixed rates are better at 3.69%.
I know the condo and house landscape very well in Miami Beach and have knowledge of almost every new building in the South Florida market and what are their advantages and disadvantages.
I pride myself on working primarily on referrals, not advertising, so if you know anyone looking to buy or sell, please pass my info along.
Happy Easter and Passover to all! When you’re ready to go house-hunting, give me a call.