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Elliman Report: Miami Sales 4Q 2013

…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…

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