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Elliman Report: Miami Coastal Mainland Sales 4Q 2016

The Miami housing market along the coastal mainland was characterized by rising prices and both declining sales and inventory. Median sales price for single family and condos increased 11.8% to $285,000 from the year ago quarter. Average sales price followed the same pattern, rising 2.8% to $388,695. Prices moved higher because of the skew from the sharp drop in lower priced distressed sales. There were 3,542 sales in the quarter, down 13.6% from the year ago quarter…

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