Miami Condo Prices Up 16th Consecutive Month

Miami condo prices continue to improve.  The median sales price for condos throughout Miami-Dade County has increased for 16 consecutive months, according to a market report released last week by the Miami Association of Realtors.  In October, the median sales price of condominiums in Miami-Dade County rose 24.2 percent to $146,000 compared to a year earlier.  Inventory of overall residential listings continues to shrink as well.  There are currently 4.2 months worth of supply throughout the county.  Over the past year, inventory has gone down 22.2 percent from 15,127 to 11,769 listings.