Miami Luxury Homes Continue To Dominate The Nationwide Residential Property Market By 41 Percent
Florida has become one of the most competitive real estate markets in the United States today because of the real estate market of Miami which continues to dominate the residential property sales, thus giving an extraordinary boost to the Florida market, especially since countless Miami luxury homes have been sold at a very fast pace after suffering for a long time due to the unsuccessful real estate booms of 2003 and 2008.
Today, when we look at Miami, the real estate market has truly changed and you can literally feel the energy of their market brimming with confidence. Because of the record breaking sales in the Miami property market, several investors and buyers from all over the globe have made it a priority to include Miami in their choice of residential property locations inside the United States.
The existing sales for single-family homes in Miami have increased significantly this 2011 as they continue to break their previous records. As of October 2011, the Metropolitan Statistical Area (MSA) rose to a whopping 41 percent compared to last year’s statistics. It is safe to say that this is just the beginning for the real estate market of Miami as rumors are floating all over the city that there will be new developments to take place in the near future.
Aside from the recently announced futuristic condo tower to be built really soon, the Miami real estate market are talking about expanding to accommodate more interested buyers and investors in their bustling residential property market. One of the reasons why Miami is quite successful today is because of the fact that this place is one of the most visited cities in the United States ever since, and it would only be foolish to think that Miami is not an ideal residential neighborhood.
Even the numbers do not lie; with a 63 percent increase in condo sales this year which is dramatically higher compared to the national average, it is safe to say that Miami is the best neighborhood for luxury living today. From locals to international buyers, the residential property market in Miami has flourished into something no one would expect to happen — a successful and striving real estate empire.
Only time will tell as to how long would the hot streak of Miami will continue. All that we truly know at this moment is that, as long as there are Miami luxury homes available on the local market, more and more buyers and investors from all over the world will definitely want to take advantage of the affordability of these amazing residential properties.