Low inventory and a decline in lower priced
distressed sales caused price indicators on Miami’s
coastal mainland to surge. Median sales price for all
property types jumped 18% to $242,000 from the
prior year quarter. Condo price gains continued to
outpace single family gains as new development
product is absorbed. Condo median sales price
surged 35.5% to $210,000 and single family
median sales price increased 7.3% to $268,250
respectively over the same period…