Miami
fromSFGATE
1 week agoReal Estate Market Trends in Miami, FL: Prices Fall
Miami's real estate market is cooling, giving buyers more negotiating power while sellers must maintain pricing discipline.
Miami Dade College President Madeline Pumariega signed away the deed for the 2.6-acre Biscayne Boulevard land to a state board managed by Gov. Ron DeSantis and the Florida Cabinet for $10 in January, according to Miami-Dade County Property Appraiser records. Earlier this month, the state's Board of Trustees of the Internal Improvement Trust Fund conveyed the land to the Donald J. Trump Presidential Library Foundation, again for $10.
Miami's real estate market continues to outpace national trends with average home prices reaching $1.13 million, nearly triple the national average of $647,307, according to the latest market data. The city's luxury segment is driving much of this growth, with over 2,100 properties listed at $1 million or higher. Current listing data shows Miami's median home price stands at $649,999, significantly higher than the national median of $379,000.
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