Property values up for third consecutive year in Miami-Dade

Property values across Miami-Dade County are up an estimated 10% from 2023, according to a recently released county report.

Why it matters: The increase underscores the strength of the county's real estate market, despite persistent housing affordability challenges.

• It's the third consecutive year Miami-Dade has seen overall value increases, according to the Miami Herald .

The big picture: All 34 municipalities saw increases, according to the report, and all but one — Sweetwater — saw a jump of at least 5%.

• 17 municipalities saw double-digit increases.

State of play: Properties in Florida City saw the largest increase, jumping 17.6% in 2023.

• El Portal saw the second largest increase at 15%, followed by Normandy Shores (13.8%), Indian Creek (12.9%) and Hialeah (12.3%).

What's next: Pedro J. Garcia, the Miami-Dade property appraiser, told the Herald he expects property values to continue to increase again next year.

• "We don't see any slowdown of people buying and selling property in Miami-Dade," he told the outlet.