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Strong Condo Market Drives Home Prices in Miami

by Peter Thomas Ricci

Asking prices once again showed positive movement in September, according to new stats from Trulia.

A strong condo market propelled Miami’s housing market to another month of positive asking-price increases in September, according to the latest Price Monitor by Trulia.

For the month, asking prices were up 14 percent year-over-year (the best in the nation) and 2.5 percent quarter-over-quarter, with rents rising 8.5 percent from last year. The key differentiator is property type – though single-family homes in Miami saw asking prices rise 11.7 percent, condo asking prices rose a whopping 17 percent, yet another sign that multifamily housing continues to drive the housing recovery.

Interested in how Miami compares with the rest of the nation? Check out our graphic below:

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