Miami FL Real Estate Trends - Sept 2011
A buyer purchasing a typical American home at the prevailing average mortgage rate today would have a mortgage payment of $698 a month. This figure is not much different from what a home buyer would have faced 30 years ago. In 1981, home prices were much lower but mortgage rates were reaching 18 percent. Today, home prices have come down by about 33 percent on average from the bubble years, but prices still remain comfortably higher than those of the 1980s. However, thanks to record low mortgage rates, the monthly payment obligations have been greatly reduced. This should be good news and bring new buyers into the market. However, very tight underwriting standards, unfortunately, are keeping some good, hard-working Americans from taking advantage of the super affordable conditions.
Now take a look at how the Miami FL real estate market performed in September.
Miami FL Real Estate - Single Family Homes Sales September 2011
|
Date |
New |
Sold |
Average |
Y-to-D |
|
September 2011 |
865 |
434 |
$198,754 |
$200,851 |
|
September 2010 |
1,122 |
485 |
$210,611 |
$214,963 |
|
% Change |
-22.9% |
-10.5% |
-5.6% |
-6.3% |
Miami FL Real Estate - Condo/Coop/Townhouse/Villa Sales August 2011
|
Date |
New |
Sold |
Average |
Y-to-D |
|
September 2011 |
989 |
575 |
$164,898 |
$154,273 |
|
September 2010 |
1,377 |
615 |
$130,457 |
$156,221 |
|
% Change |
-28.2% |
-6.5% |
+26.4 |
-.7% |
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The Prestige Properties Team has over 30 years of real estate experience from the US to Canada and speaks seven languages including English, Spanish, Polish, German & Russian. We are a woman owned minority business that does extensive community outreach. We are viewed by ourselves and others as a shining example of an unstoppable team that others are drawn to. We seem to grow and excel beyond all expectations and we value each other and support each other both professionally & personally.
The Prestige Property Team is a leader in the South Florida real estate market. The team assists buyers looking for Miami real estate for sale and aggressively markets South Florida homes for sale. They are also Certified Distressed Property Experts (CDPE), committed to helping families in financial hardship find options to foreclosure. For more information you can visit EllenHelpsHomeowners.com.
You can reach the Prestige Property Team by calling 954-292-6412 or email.
Statistics furnished by the Miami Realtors Association.
