Connect with Tom
Talk to Tom Today: (305) 395-1288

search articles

Contact Us

  • *Required Fields
  • This field is for validation purposes and should be left unchanged.

Miami Condo Sales picking up

Miami CondosSales of condos in South Florida seemed to be picking up towards the end of 2009, which may show an overall demand for increase for Miami condos.  Condo sales in Miami in October 2009 were up 47 percent year over year, compared to 2008.  While sales volume has been increasing steadily, the sales price has been steadily declining.  Miami condos, in Miami-Dade county, were down 30% year over year, with a  median price now being $138,400.  Many experts believe that low priced condos may have reached a bottom, although more expensive condos may still experience a decline.  The expected decline is largely attributed to the high level of foreclosures which are expected to take place in 2010.  As prices begin to stabilize, many experts in the Miami area expect Miami condos to sell well and for prices to increase, although prices are not expected to reach 2006 levels for quite some time.  While values have shrunk, Miami still offers homeowners many amenities including access to beautiful weather, pristine beaches, and plenty of night life entertainment