One in Five Homes For Sale in Miami-Dade Costs More Than $1 Million
Having trouble trying to sell your home? Too bad it's not a $1 million mansion. Properties in the seven figure range were selling like hot cakes this year. In fact one out of every five homes sold this year in Miami-Dade county carried a price tag at $1 million or above, according to Miami Today.
To put that in perspective that means that a $1 million+ home sold in the county about once every 17 hours.
Meanwhile, one in every eight condos sold in the county went for $1 million or more.
About 71 $1 million+ homes and 85 condos in that same price range are sold in Miami-Dade every month, and they're selling quicker than last year. High-end properties spent about 30 days less on the market in the last quarter of 2013 than they did in that same time in 2012.
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"This means there are so many people out there looking for luxury properties that there's a huge uptick in the luxury market," broker Valerie Byrne told Miami Today.
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