South Florida’s housing market continues to be very strong. Prices continue to climb and inventory conditions continue to provide buyers and investors with great opportunities. Miami is strategically located to attract buyers from all around the world including Latin America, Europe, and all across the United States.
The Miami metropolitan area is the seventh-largest metropolitan area in the United States and the 72nd-largest metropolitan area in the world. The metropolitan area includes the City of Miami (the financial and cultural core of the metropolis), Miami-Dade, Broward, and Palm Beach counties which are the first, second, and third most populous counties in Florida. Greater Miami includes a larger area defined by the United States Census Bureau as the Miami-Port St. Lucie-Fort Lauderdale Combined statistical area.
This larger area includes Martin, Saint Lucie, and Indian River counties to the north of Palm Beach County. The typical value of homes in Miami-Fort Lauderdale-West Palm Beach Metro is $475,854. This value is seasonally adjusted and only includes the middle price tier of homes. Miami-Fort Lauderdale-West Palm Beach Metro home values have gone up 22.6% over the past year and Zillow predicts they will rise 1.8% in the next twelve months.
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- rfayad@riadfayad.com
- riadfayadrealestate
