CONDOMINIUMS
- Condo market inventory across all price ranges ended down 7% over last year.
- Condo closed sales down roughly 1% and pending sales up almost 10% at year-end.
- The average condo sale price was $375,000. The average condo list price is $875,000.
- An average of 1,000 condos close every month and there are over 14,000 currently for sale, leaving approximately 13,000 condos unsold each month.
SINGLE FAMILY HOMES
- The year ended with inventory down approximately 10% over the same time the previous year.
- Closings were up slightly.
- Pendings up over 9%.
- Average price per square foot up almost 6%.
- The average price sold up almost 6%, coming in around $550,000.
- The average list price is climbing, approximately 5% at about $1,400,000.
THE BOTTOM LINE:
Real estate trends are hyperlocal. If you would like to know how the market specifically translates to your neighborhood, call me today at 305.608.5269 for a personal consultation.
*Numbers rounded to the nearest thousand
*Information gathered through Miami RE Trends and MLS
