Miami homes sales, propelled by record-low prices and foreign investment, have soared in recent months.

Third quarter home sales in the Miami metro area skyrocketed by 51 percent from a year ago, according to recent data from the Miami Association of Realtors (MAR).

Total home sales for the area, which include existing single-family homes and condos, were 6,412 for the quarter, up from 4,239 in 2010’s third quarter. This marks the 13th straight quarter that Miami home sales have increased, according to MAR.

Jack Levine, MAR’s chairman, said that international buyers are leading the charge in the most recent boom in Miami real estate.

“Strong demand from international buyers is fueling robust sales activity in Miami despite low consumer confidence and high unemployment,” Levine said. “Local sales are expected to set a record this year that should exceed the height of the boom in 2005.”

As we (and featured bloggers) have covered in the past, international buyers have comprised a large chunk of the recent investments in Miami. For instance, in September, nearly two-thirds of sales were paid for in cash, and more than three-quarters of condominium purchases were bought without mortgage financing. Why is this important? Ninety percent of foreign purchases are paid for in cash.

Statewide sales for Florida also increased, albeit more modestly. Single-family home sales were up 12 percent and condos up 13 percent.

Interestingly, though sales have been through the roof, home values in Miami are still lackluster, according to data referenced by HousingWire. For the third quarter, home prices were up just 1.6 percent from the previous quarter and down 9.9 percent from 2010’s third quarter.