Cutler Bay Home Prices
The average home value in Cutler Bay is currently $300,000. Cutler Bay home prices are going up about 10% over the past year. Miami Listing Agents is estimating that prices will go up by almost 4% by next year. A average dollar amount per square foot in Cutler Bay is about $172. That is lower than other surrounding areas like Miami or even Ft. Lauderdale. Thos cities are averaging at about $220 a square foot. The average selling price of homes in Cutler Bay is $320,000 right now. The median rental value is estimated to be around $1,750 in Cutler Bay is $1,750, which is lower than the Miami, Ft. Lauderdale or even West Palm Beach.
The first step to foreclosure is not being able to pay your mortgage on time. This usually happens if borrower does not make a mortgage payment on time. The percentage of delinquent borrowers in Cutler Bay is 1%, and that which is higher than the national value of .9%. Now that home values in the USA have fallen by more than 19% nationally from the high of 2007 all the way trough to late 2011, almost all homeowners are upside down on their mortgages, what this means is that, now they owe more than then the home is worth. Currently the percentage of Cutler Bay homeowners underwater is about 7%, which is much higher than Miami, Fort Lauderdale or even West Palm Beach which are at about at 7.2%.