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Based on data from Florida Realtors, South Florida home sales and prices were on the upswing, seeing double-digit growth in November as the area benefited from people growth and reduced interest rates.

As the area attracted affluent people from high-tax states, the luxury market was particularly strong.

When compared to November of last year, single-family home sales rose by just over 23 percent, to 4,134 in the tri-county area. The median purchase price rose by a little more than 17 percent to $430,000.

Across the state, home prices of single-family houses soared nearly 23 percent, while the median selling price rose to $305,000 by 14.1 percent. There were rises in both revenue and rates in every Florida metropolitan region.

The sales of condos and townhouses in South Florida rose almost 30 percent to 4,062. The median sale price rose to $235,000, by just over 16 percent.

The condo/townhouse market also flourished in Florida, with sales just above 30 percent and the median selling price up almost 17 percent to $228,000.

This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on hard money lenders Palm Beach or Orlando hard money lending, please call 954-816-0388 or fill out our application.

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