Case Shiller reported that throughout 20 metropolitan areas there was a gain of .6% in November and the prices have risen in these areas by 5.5% this past year. An increase of this magnitude has not been seen since 2006. US Economist Omar Sharif with RBS Securities in New York released this statement to Reuters, , “This is continuing a trend in place for the better part of a year. This is another indication that the housing rebound is fairly entrenched at this point.” November was the tenth consecutive month of gains which beat out the 2009 and 2010 9 month runs which were accredited with the home buyer tax credit. The numbers were all adjusted seasonally for the slower month of December.
While the rest of the nation experiences slower months in the winter, Miami is the polar opposite. Miami is in season now, and there are scarcely homes on the market. With every listing, there are multiple offers and bidding wars for the competitively priced homes. Whether in the single family home market or the condominium market, there are very few options on the market. In short, winter is NOT a weak point in the market for Miami and if you are looking to list your home there is no better time. Luxury homes are fetching top dollar and we are happy to provide a comparative market analysis. Contact us today.