Housing prices along the coastal mainland
market of Miami continued to press higher,
bringing inventory into the market. Median sales
price increased 11.9% to $235,000 from the same
period last year. Average sales price and average
price per square foot followed the same pattern,
rising 9.9% and 8.3% respectively over the same
period. After finding a “bottom” in the prior year
quarter, several years of rising prices began to
pull more listing inventory into the market. Listing
inventory was up 34.5% to 9,082 from the same
period last year. Overall sales slipped 2.3% from
the prior year quarter, largely from the decline
in distressed property sales…