The real estate market in South Florida is booming

The real estate market in South Florida is booming in April.

The average price of an existing single family home in Miami -Dade County increased 23.7 percent to $ 225,000 in April from a year earlier, the Realtors Association of Miami. The average price of a condo in Miami -Dade rose 17.1 percent year on year, to $ 175,000 .

Sales of single family homes in Miami -Dade County increased 15.2 percent on year to 1.094 years . This increase in volume came despite a 6.9 percent drop in the number of houses available for sale in April, said the Association of Realtors Miami.

The number of closed transactions in existing condominiums in Miami -Dade County increased 18.7 percent over the previous year .

The number of condos that are for sale rose 1.1 percent in April from a year earlier , the Realtors of Miami said. However, the supply of existing condos in the Miami -Dade market was down 6.1 percent to 5.7 months in April from 6.1 months a year earlier , reflecting the greater number of sales.

"The steady increase in sales of homes and condos in Miami indicates that buyers and investors are moving quickly to acquire these properties , while supply levels remain historically low," said in a statement Natascha Tello , president of Miami Realtors in 2013. " After two years of record sales , along with a very tight supply , apparently not exceeding sales activity last year. However, it seems that real estate sales are on the rise in Miami again. "

Sales of houses and apartments in Broward County continued to show strong similar results.

The average price of an existing single family home in Broward rose 22 percent to $ 250,000 in April from a year earlier , according to Greater Fort Lauderdale Realtors.

The average price of condos and Broward rose 24 percent to $ 105,000 over the previous year , the group said .

Sales of single-family homes in April in Broward rose 11.1 percent from a year earlier to 1,316 closed transactions , despite a fall of 23.2 percent in listed for sale. Sales of condos and homes rose 5.8 percent in April to 1,664 closed transactions over the previous year .

" As the average housing prices continue to rise, existing homeowners are more comfortable with putting to list their homes and receive the sale price or an amount close ," he said in a statement Charles Bonfiglio , president of Greater Fort Lauderdale Realtors.

The existing single-family houses selling in Broward received 94.8 percent of the sales price in April, up from 91.6 percent a year earlier. Owners of homes and condos got 94.4 percent of the sales price in April, up from 91.6 percent a year ago , the Realtors group said .