“Historically low-interest rates, a shortage of new housing inventory and limited new construction have contributed to rising home prices nationwide.” — Don Ganguly, senior vice president of Mynd Investor Services
The decline of home mortgage interest rates is continuing to fuel homebuying demand in December, pushing the median home-sale price up 13% nationwide to $334,300, according to a new report from online broker Redfin.
Miami-Dade, Broward and Palm Beach counties all saw significant year-over-year increases in luxury single-family sales, average sales price and cash transactions.
The number of homes for sale nationwide dropped below 700,000 in December, hitting an all-time low, while home prices were up double-digits over the year prior, according to realtor.com’s Monthly Housing Trends Report.
The 8,430-square-foot residence, located at Palazzo Del Sol on Fisher Island, is listed at $17.5 million.
The sale of two waterfront lots sets new record price for Venetian Islands.
Homeowners nationwide enjoyed a more than 8% increase in home prices over the last 12 months ending in November, making it the largest year-over-year increase since March 2014, according to the CoreLogic Home Price Index.
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