Real Estate Market Update July 2012!

I am always trying to keep my readers and clients updated on the latest trends in our real estate market.  Interested in some important facts?

• In the chart above, you will see that the average price per square foot in Miami-Dade County is the highest it has been in the last 12 months. 
• The average price per square foot in Miami Dade-County has increased 19.6 % in the last 12 months. Of that, average prices in Dade-County have increased 9.1 % in just the last month!
• There has been a 28 % decrease in inventory in the last 12 months in Miami-Dade County. With only 5 months of inventory, as I predicted, we have been moving in to a seller’s market.
• The median priced homes in Miami-Dade County now match the median income. This is the time to buy in Miami!  With the low inventory, we are seeing an increase in home prices, and I suspect we will continue to see an increase.

We have sold 6 homes in the last 10 days, and already scheduled 14 deals to close between July and August; we are loving all of the activity!

If you aren’t happy with your real estate results, if it’s not the market, it might be your method. Call us for a complimentary analysis of your home.

Drew Kern

EWM Realtors

Chairman of the Coral Gables Chamber of Commerce

*This is for Miami-Dade County as a whole. This is not neighborhood specific.*