Even though prices keep on increasing in Miami, cash is still number one. Almost $1 billion of sales has been registered in March 2016 for residential units of single-family homes in Miami Dade. The median price went up by 7.7% as compared to the price for condominiums that dropped by 2.6%. Despite 5 years of record sales, Miami keeps on registering sales in the range of high price points.
Knowing that 50% of all transactions in Miami-Dade County are cash, it shows that home buyers are still very much invested in Miami real estate market. Read the rest of this entry »