Miami Real Estate Market Marks Its Most Successful Property Sales in July of 2011

19 August 2011

The real estate market in Miami has finally something to brag about as more home and condo property sales are being sold at a fast pace. This is believed to be the best-selling year for Miami and its nearby areas after being down for such a long time.

According the official reports for July 2011, the average sales price for home properties and condo as well for places like Miami-Dade and other places have increased sales of as much as 9.3 percent in Miami-Dade while condo sales reached up to 17.9 percent! This was all made possible thanks to foreign buyers and investors with buying powers thanks to cash payments.

This is probably the biggest improvement so far in terms of the real estate market of South Florida as home sales rose up to 47 percent and condo sales at 33 percent – which fared a lot better compared to last year’s results and as well as the previous years.

Now that the oversupply of real estate properties are finally slimming down, not to mention the fact that foreign buyers are also targeting foreclosed properties and properties with low mortgage rates, it is expected that the Miami real estate will soon bounce back from its losses and prove to the country once again that Miami is the best place for all your real estate needs.