Condo prices will level out, but the volume will decrease

It looks like that the crash of the South Florida's condos will be over by 2010, with a stabilization of the prices.

In the Miami-Dade County's real estate market, average new condo prices will increase slightly this year, reaching $346,000. Unfortunately, the closings will continue to fall through 2012.

For what the existing condos are concerned, their prices will tumble around $ 90,000 this year and hopefully will level out in 2010 and 2011.

Contributed by MLR Realty