Posted by : admin in (In the News, Miami Beach, Values !)
Market Recovery in Certain Neighborhood
“Market Recovery Picking Its Spots,” proclaims the Miami Herald, July 10,2008. Neighborhoods close to downtown Miami and metrorail are showing signs of renewed buyer interest, along with the “perennially attractive markets like Miami Beach,” according to the paper.
As we’ve been reporting for some time, foreign buyers – particularly Europeans with their strong currency – are helping support the market strength in Miami Beach. “Indeed that city saw more sales in May than almost any other area of Miami Dade with 136 condos sold…. the median price has remained virtually flat compared to a year ago at $376,000.”
Those statistics confirm that Miami Beach continues to do well despite the general downturn in Florida and U.S. real estate. To be sure there are good bargains on the Beach, however, the notion that fire sales are taking place everywhere at all price levels is not borne out by the facts.
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Esslinger-Wooten-Maxwell, Inc. Realtors, Inc.
