In its second quarter the housing market in South Florida has cooled.
The median price of a single-family home in Miami-Dade rose almost 8% in the second quarter, bringing it up to $270,000 from a year earlier, when the spikes in prices were in the double digits.
However, even though there has been a slowdown the median prices have continued to rise at faster pace than national prices.
The national median existing single-family home price rose 4.4 percent in the second quarter to $212,400 from $203,400 a year earlier, NAR said. That was far slower than the 8.3 percent year-over-year increase in the median price in the first quarter.
For the past several years, we have become a leader in the semi-custom luxury home niche in Miami-Dade County, with a particular emphasis on the following neighborhoods: Coconut Grove, Coral Gables, Galloway Glenn, Pinecrest, and South Miami.