Thanks to low supply and high demand, property prices in Miami keep rising, according to the Miami Association of Realtors.

The median sales price for single-family homes in the Miami-Dade County increased by 4% in the second quarter of 2012 compared to 2011 to $185,000. This is 6% higher than in the first three months of this year.

Condo prices also jumped by 28% compared to last year to an average of $153,000, which is up 18% compared to Q1 2012.

Nationally, the median sales price of existing single-family homes was $181,500 in the second quarter, up 7.3% from the second quarter of 2011, according to the National Association of Realtors. The national median sales price for condominiums was $178,000, a 7.5% increase over the previous year.

Sales are also on the up thanks to the high demand, rising by 2% in the second quarter of 2012 compared to 2011.