Miami Beach average sales price set a new
record this quarter, as sales declined and
inventory expanded. Average sales price
increased 12.1% to $1,071,679, the first time this
metric has exceeded the $1,000,000 threshold
in the decade this metric has been tracked.
Median sales price increased 2.4% to $435,000
over the same period. The rise in average sales
price was the result of higher end housing
entering the market and the continued decline
of distressed housing. The market share of
lower priced distressed sales fell to 5.3% of all