Miami-Dade home prices fall for the first time
In 2012, the price of homes in Miami-Dade County rose significantly, especially single-family homes. In this county, people quickly bought homes, and even the payment was in cash, according to Deciphered.
But real estate experts in South Florida have reported that prices stagnated in January and even began to decline as announced by Infobae.
The average cost of single-family homes in Miami-Dade County in January was 525 thousand dollars, this has represented five thousand dollars less than the average sold in December of last 2021.
This is the first time that a decrease in the cost of housing has been reported in a period of 6 months of constant increases, but not only in this county have prices decreased, but they have also done so in Broward County, also located south of Florida.
In this county, prices also skyrocketed, but in December of last year and in January, prices remained the same, that is, the average cost of a home in Broward is around 500 dollars.
“But the rise is enormous if the values of a year ago are taken into account. In January 2021, the average price of homes sold in Miami Dade was $469.500, while in Broward it was $420.
Another point to take into account is that the price of condominiums in the county are the ones that have not risen. The average cost for an apartment with a gym, pool, green areas and everything else is about $360, "a not-so-considerable increase from the $355 average sales in December," while in Broward the cost of them is 240 thousand dollars for the month of January.
Miami Daily
Author: Natasha Palís 6:58 pm