The third quarter of 2009 brings some good news for Florida and Miami Beach real estate. In a continued sign of improvement in the housing market, sales of existing single family homes in the state increased to more than 44,000, a substantial 30+ percent increase from 2008.
Surprisingly, it was also Miami that saw the most improvement when it comes to markets like Miami Beach condos. Existing condo sales rose 43 percent, a figure that again, is another improvement in comparison to last year. On the other hand, prices for condos are still going down, dropping to about $138,000 from $219,800.
What’s causing the year over year improvements in home sales? It’s the same factors you probably know of: foreclosures, lower prices and the government’s first time buyer tax credit. Speaking of which, it has since been extended so you now have more time and opportunities than ever to explore the countless amount of Miami Beach homes that are out there.