It’s that time of the month again ladies and gentlemen, when we discuss the latest reports regarding South Florida and the sales of property like Miami Beach homes. Once again, April proved to be yet another encouraging month not only for home sales but also for home prices for the first time in three years.
Median prices for Miami Beach homes and homes throughout Miami-Dade County saw a significant jump of more than seven percent to $192,000. As for actual sales, they also increased by seven percent to 594 when compared to April of 2009. Condominiums also saw encouraging sales but unlike traditional homes the prices once again dropped, this time by three percent to a median price of $130,000.
You’re probably already tired of hearing the factors that contributed to these increases but in this case the job outlook also managed to contribute. After nearly 50 straight months of increases, the unemployment rate in Florida actually dropped to twelve percent in April. It’s still presumptuous to say that Miami Beach homes are on the comeback trail but this news further solidifies the possibility of a steadily improving market.