People often ask how the market is doing, and the answer is almost always, “it depends”. The recent slowdown in sales activity across Miami-Dade is well known, but this doesn’t tell the whole story.
When we delve into 3rd quarter numbers and compare the single-family market to the condo market under $1M in Miami-Dade County, it becomes clear that it is a Tale of Two Cities.
The graph below shows the Months of Inventory for Single-family homes under $1M in Miami-Dade County. As you can see, this market has remained a Seller’s Market over the past 4 years, which has led to significant price appreciation.
The graph below shows the Months of Inventory for Condos under $1M in Miami-Dade County. As you can see, the months of inventory have steadily increased from 4 to over 10, indicating a strong Buyer’s Market.
In today’s evolving real estate market, it is critical to work with a passionate Realtor that knows the market inside and out.
If you would like to discuss your local market, and how to sell your property for top dollar, contact :
Alex Larmier | 786-301-5357 [email protected]