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5/25/2006

More On Price Increases/Decreases

Existing Miami Beach condos have seen a smaller number of sales in the past year. With Miami Beach condos sells sinking, so did the median prices in most markets. In Miami, median prices declined by 2%, from $256,000 to $251,000. The number of units fell from 1,391 units to 1,031, a 25% decrease from the previous year. In other areas of Florida like Fort Lauderdale and West Palm Beach-Boca Raton however, prices rose. There was a 17% increase in prices in Fort Lauderdale. With this price increase Fort Lauderdale took a hit on sales. Sales declined by 37% from 1,391 units to 873 units.

# posted by Miami Beach Homes @ 5/25/2006 05:09:00 PM

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