What causes Miami home prices to fluctuate?

Over time, the value of a property will fluctuate up and down. For the most part, house values appreciate in the long term. But, of course, in real estate there is always a certain amount of risk.

When your property appreciates you have more resources to borrow against, and you'll make a better profit when you sell. There are numerous reasons why property values in Miami fluctuate. So, how will you be sure what you're buying presently will appreciate over time? It's imperative that you go with a REALTOR^® in Miami who recognizes the factors that drive local prices.

Find My Home's Value

What is the greatest factor impacting real estate appreciation? Many think that it's the economy. After all, there are several factors on a national level that change your house's value: unemployment, interest rates, quarterly earnings reports, and more. However, your property's value and the components that play the biggest role in its appreciation are particular to the local Miami economy and housing market.

Let Florida Realty of Miami help you with your first home purchase in Miami

Let Florida Realty of Miami help you with your first home purchase in Miami

Location in a community - Proximity to jobs and schools also have a great impact on most home buyers' decisions. So those communities generally appreciate, or hold their value, best.

Prior home sales - Are homes on the market 30, 60, or 90 days or even longer? What was the selling price versus the asking price? A lot of data can be retrieved from public records, but a good agent with a login to the local MLS will often provide a more complete picture.

History of appreciation - In the last 5-10 years, have house prices increased or decreased? Does location or affordability affect how desirable the neighborhood is considered?

The local economy - Are local businesses hiring? Have companies moved into or away from an area? Is there a nice mixture of job types in an area, or does it rely upon just one industry? Is the blend of commercial and residential development changing? These items play a role.


	Identifying the factors that play into your house's financial worth is important. Click here to receive an estimation of your property's value. Call me at 305 527 4341 or e-mail me if you have any questions at all. I'd love to hear from you.