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.

"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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