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Elliman Report: Miami Coastal Mainland Sales 1Q 2015

Low inventory and a decline in lower priced distressed sales caused price indicators on Miami’s coastal mainland to surge. Median sales price for all property types jumped 18% to $242,000 from the prior year quarter. Condo price gains continued to outpace single family gains as new development product is absorbed. Condo median sales price surged 35.5% to $210,000 and single family median sales price increased 7.3% to $268,250 respectively over the same period…

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