…The housing market of the Miami coastal
communities experienced sharply rising prices,
falling inventory, the lowest distressed market
share in more than 3 years, continued influx of
international demand and shorter marketing
times in the first quarter of 2013. Declining
inventory, rising sales and a declining distressed
market share have pressed the housing price
indicators up sharply. Distressed market share
that is comprised of short sales and foreclosures,accounted for 37.8% of all sales, down from the
recent high water mark of 62.9% in the third
quarter of 2010. Median sales price, perhaps the
most reliable indicator for market trends, rose
19.4% to $210,100 from the prior year quarter…