Most Miami condo buyers and sellers may have recently heard the term "appraisal gap" but may not know its meaning. An appraisal gap is a real estate term used to describe the difference between the estimated market value of a property and the appraised value. The appraisal gap can be caused by several factors, such as the current increases in prices in the Miami, FL market. Buyers and sellers in Miami need to be aware of the appraisal gap and its effect on their transactions.

Article: https://www.allioo.com/post/appraisal-gaps-are-affecting-condo-sales-in-miami-with-fast-rising-prices