…The Miami housing market continued to be
defined by rising sales and prices, falling
inventory and a shift away from distressed
sales. However, the rapid growth in sales and
decline in inventory over the past several years
appears to be easing as the market transitions
from a recovering market to a recovered
market. Overall median sales price climbed
14.3% to $240,000 from the prior year quarter.
A key factor in the overall rise in housing prices
was the decline in distressed sales. The market
share of non-distressed sales expanded 8.7% to 67.2% over the same period, skewing the
overall price indicators higher…