Market expert Shelia Ferguson says it's still a buyers market in Miami-Dade county.

Single family homes valued over $1 million are up in inventory by 5 percent over March of 2007, with the median price at $1.9 million.

And single family homes under $1 million are up in inventory by 32 percent over March of 07, with a median price of $300,000.

There has been a lot of over-development in Miami-Dade over the past few years, she says, and today developers are lowering their prices and offering incentives to get their inventory sold.

Add in low interest rates and it's definitely a time to buy, Ferguson says.

She also says to remember that real estate is an investment, and you are buying for the long term.

The key is to buy while prices and optimism are low, and sells when prices and optimism are high.

For more information on this market contact Shelia Ferguson at:

www.SheliaFerguson.com.

Published: May 15, 2008

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