Florida’s housing market made an impressive comeback in April. The average sales price for a single-family home in Miami-Dade appreciated by 23.7 per cent, offered at $225,000 compared to year earlier.
This means investors have a growing and blooming opportunity to see their short-term investment growing in double digits in the months to come. Keeping extra money handy with paper work done will save quite a lot of price appreciation after the decision to place the money for an immediate reselling.
Condos too provide a lucrative market, jumping 17.1 per cent and the median price for a condo stands at $175,000 lately. Short term investors and first timers can place a less risky but friskier bet to double the amounts with growing double digits.
The sales frequency for single-family homes reached a record breaking 15.2 per cent with 1094 units changing hands in Miami-Dade. The frequency increase happened despite a short fall in supply by 6.9 per cent for single-family homes listed in April.
Sales frequency for condos rose by 18.7 per cent indicating a brisk market – the listing rose 1.1 per cent in April since the last year. With rising demand and more sales activity, the condos supplied and listed percentage dropped to 5.7 months to an year compared to previous 6.1 months an year.
SalesPredictions from Stafford Housing
Summarising, condos and single-family homes are the best bet with an average running capital suggested to be around half a million dollars to gain a certain 16.15 per cent gain. If the percentage is spread over multiple units, double gain reaching 30 per cent and above can be predicted – converting half a million investment into single unit condo and single unit single-family home to a comfortable average of $200,000, with $100,000 to spare.
Stafford Housing is a premium corporate housing brand of the US, dealing with upscale luxury apartments supplied with world-class amenities to enjoy short term vacations and rentals, around the US.
For buying and selling advice, Stafford Housing provides the best expertise and a team of advisors to put your money where it produces the best profit rates.