Tuesday, May 12, 2009

Miami Q1 Single-Family Home Sales Soar

The Realtor Association of Greater Miami and the Beaches (RAMB) said single-family home sales jumped 72 percent in the first quarter over the same period a year earlier.

International money and discount prices helped fuel the boom.

The median sales price for single-family homes in the Miami area was $203,700 in the first quarter, down 38 percent from the year-ago period, according to RAMB.

"Miami has been one of the strongest comeback markets in the state of Florida," RAMB chairman Rick Burch said in a statement, citing "rock-bottom prices" and buyers from Europe, Brazil and Venezuela among factors behind the upswing.

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