Median condo price up 41% in 2 years
By Marilyn Bowden
With condo sales picking up all over Miami, it's hard to say which areas are hottest, brokers say, but the numbers show Key Biscayne, Sunny Isles and Brickell have an edge — and right now, satellite art fairs in neighborhoods along Biscayne Boulevard have given the Midtown area a boost.
Countywide, said Mike Pappas, president & CEO of The Keyes Co., the median price of a condo has risen 41% since November 2010, and inventory is down 53%.
The median price of a Key Biscayne condo in October of this year was $705,000 — a 57% hike from the $447,000 median price recorded in November 2010. During the same period, inventory dropped from 438 properties to 137.
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