In this past year we have seen the price increase in Miami by some 17.3% and in certain are even more. I keep hearing from prospective buyers that they are going to wait because the prices will go down.
The sad truth is it’s not and not by a long shot. According to Realtor.com, the median price in Miami-Dade is trending at $465 which is up by 12%. Based on a recent article from Forbes.com, Home sales are expected to increase another 6.6%. So should you wait? That is an interesting question but one that I will resoundingly say “no” According to another article that I read and based on what I am seeing Home prices will continue to rise and low inventory will be prevalent. Please Read this Time article.
However, run Florida prices are expected to rise another 10.7%, and based on the $600K that you could buy today should that price could rise potentially to $665K that is a $65K increase. If you contemplating waiting “Don’t I would really consider using a real estate professional who does it full time, not someone who has a real estate license and does it like a side hustle", use a true pro that is not only going to search for you all the time, every day, and at least once a week seeing 2 to 3 possibilities but someone that knows how to negotiate a true price, not just list.
Do your homework on the property but do your homework on who you are using. I often find it interesting that people trust amateurs with the most important investment they will ever have. Do you go to a part-time doctor to perform surgery no you go to a doctor with countless reviews and experience.
