Another month, more record Real-Estate prices & SFL remains hot:
Bottom Line: July proved to be another super strong month for real-estate across the country and right here in South Florida. According to the latest from the Nation Association of Realtors, existing home highlights included:
- Median home prices at a new record high: $258,300
- Prices rose 6.2% year over year
- The real-estate recovery reached its 65th consecutive momth
- Average time on market 30 days
- 51% of homes sold within a month of being listed
Here's how prices performed in South Florida:
- Broward: + 9% to $350,000
- Miami-Dade: + 12% to $335,000
- Palm Beach: +6% to $336,000
Historically average real-estate returns are about 4% year-over-year so you can see that nationally and especially in parts of South Florida.