WOW, what a difference a few months make!
If you blink you may miss what is left of the Real Estate Opportunities in South Florida. Miami Home Sales have increased 20% over last year & Miami Condo Sales has increased 46% and what is this… Prices are up from the beginning of the year! If you have been thinking about buying OR selling, this is the time. Don’t miss out on the opportunity to sell while the market is moving & don’t miss out on the opportunity to get in at the bottom when there is no place to go but up!
Miami Home & Condo inventory levels are at 5.5 months (6 months are considered healthy. Anything less than 6 months inventory generally indicates an appreciating market. But that’s not all, the first 5 months of 2011 has turned out to be one of the strongest in history for South Florida with over 23,000 properties changing hands. All this in contrast to the rest of the country that is still slumping & can’t quite get going.
Why is South Florida in such demand? Many factors:
- Prices are so distressed that there is no place to go but up.
- Florida has no state income tax.
- Florida has strong ties with Latin America where the economies are booming (especially Brasil).
- everyone wants their little piece of sunshine.
Read more in the Miami Herald:
http://www.miamiherald.com/2011/06/21/2277801/south-florida-real-estate-paradox.html
