Residential Turning Into Sellers Market

By Laura Stace
The rise in home and condo prices may signal a return to a seller’s market in Miami, with realtors saying well-priced properties are being snapped up quickly by local and international buyers.

Last year, as the market started to turn around and bounce back from the slump experienced in 2008 to 2010, realtors in Miami sold a record number of homes, said Ralph De Martino, board member of the Master Brokers Forum and 2011 Residential President of the Miami Association of Realtors.

Mr. De Martino, president of Ocean International Realty, said judging from the first three quarters of this year realtors would match last year’s numbers while having achieved considerably higher sales prices.To read the full article and the rest of the Miami Today issue, GO TO e-MIAMI TODAY, an exact replica of the printed edition.