Brazilians lead Florida real estate boom

Brazilians, along with other Latin Americans and Canadians, have driven up prices of condominiums in the popular coastal neighborhoods of Miami.

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Market View for Miami Beach

Average price per square foot for Miami Beach FL was $375, an increase of 49.4% compared to the same period last year. The median sales price for homes in Miami Beach FL for Aug 11 to Oct 11 was $239,000 based on 769 home sales. Compared to the same period one year ago, the median home sales price increased 28.5%, or $53,000, and the number of home sales decreased 10.1%. There are currently 4,562 resale and new homes in Miami Beach on Trulia, including 3 open houses, as well as 594 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Miami Beach FL was $1,300,178 for the week ending Nov 09, which represents a decrease of 0.9%, or $12,175, compared to the prior week. Popular neighborhoods in Miami Beach include Oceanfront and Normandy Isles, with average listing prices of $646,219 and $524,083.