Since 1980, real estate has appreciated nationally (unlike many investments!). Looking at five year increments real estate has appreciated between 25% and 89%:
1980-1985 25%
1985-1990 27%
1990-1995 25%
1995-2000 29%
2000-2005 89%
Real estate prices, now, are dropping in all market segments. Sales are up in the lower price ranges, below $300,000.00 . The luxury market will typically rebound after the lower end does. In Miami there is a gap between asking price and selling price, for the most part. Real Estate Prices ARE DROPPING. We are living through a CORRECTION period. Looking to buy or sell real estate in South Florida or elsewhere? Give me a call at 305 793-1365. I will be pleased to help you.
