South Florida Home Prices Third in the Nation
It was just reported that the home price growth in South Florida is third in the nation for growth. Preceding South Florida are Denver and San Francisco, but only slightly. Miami single family home prices rose 9.2 percent over the past year, and Denver rose by 10%. The strong economy nationally and the growing local economy with the help of steady foreign investment have made a veritable boom town out of all Miami.
Not only are the resales in limited supply but the preconstructions are selling out at record prices. Faena House is nearly sold out and with each day new construction projects such as Pearl House are announced. Some areas with the most development are Bay Harbor Islands and Brickell, however Sunny Isles and Coconut Grove are also witnessed huge amounts of new development. The condos that are being developed are beyond luxurious and are fetching multi million dollar prices. For more information contact a member of our team today!
