Inman

Miami home values rose across the board in Q1, says Zillow

Zillow recently released its Q1 2016 Market Report, noting that inventory across the nation has dropped almost 6 percent annually, with over 10 percent decreases in both bottom and middle-tier homes. The real estate website estimates the national Zillow Home Value Index (ZHVI) at $186,200 in the first quarter of 2016.

Other significant findings from the report include:

Despite national trends, inventory in the Miami/Fort Lauderdale metro area rose overall. Although bottom-tier inventory fell 3.6 percent, middle and top-tier inventory increased 7.8 and 15.4 percent, adding up to 40,561 listings in the area.

Home values in Miami and Fort Lauderdale increased across the board. The ZHVI of bottom, middle and top-tier homes in the metro area rose 11.7 percent, 10.5 and 6.3 percent, respectively, to reach an average of $230,600.