MIAMI - Miami home prices rose again in November, according to the Miami Association of Realtors.
The association reported the average sales price of single-family homes rose 17.4 percent in November to $377,918 compared to a year earlier, while the average sales price of Miami-Dade condominiums rose 22.9 percent to $285,512.
The association also bragged that Miami-Dade residential sales surged 23 percent in November compared to a year earlier. The sales of existing condominiums in Miami-Dade increased 19.8 percent. Sales of single-family homes increased 26.2 percent.
"It appears the Miami real estate market will set another record in 2012, exceeding sales levels at the height of the boom in 2005 and during the all-time record in 2011," said Miami Association of Realtors Chairwoman Martha Pomares. "Considering the shortage of housing inventory available, it is remarkable that sales remain this strong."
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