Miami Market Update
Miami Single-Family Homes |
June 2023 |
June 2022 |
% Change Year-over-Year |
| Closed Sales | 1,004 | 1,139 | -11.9% |
| % Paid in Cash | 26.6% | 30.2% | -11.9% |
| Median Sale Price | $622,500 | $579,000 | 7.5% |
| Dollar Volume | $1,038,246,440 | $1,200,985,519 | -13.6% |
| % of Original List Price Received | 97 | 100 | -3% |
| Median Time to Contract | 27 | 15 | 80.0% |
| Median Time to Sales | 71 | 60 | 18.3% |
| Active Inventory | 2,911 | 3,422 | -14.9% |
| Months Supply of Inventory | 3.3 | 2.8 | 17.9% |
| Miami Townhomes & Condos | June 2023 | June 2022 | % Change Year-over-Year |
| Closed Sales | 1,360 | 1,752 | -22.4% |
| % Paid in Cash | 56.0% | 52.8% | 5.6% |
| Median Sale Price | $418,000 | $410,000 | 2.0% |
| Dollar Volume | $941,704,800 | $1,260,758,472 | -25.3% |
| % of Original List Price Received | 96 | 100 | -4% |
| Median Time to Contract | 32 | 22 | 45.5% |
| Median Time to Sales | 77 | 67 | 14.9% |
| Active Inventory | 6,116 | 5,817 | 5.1% |
| Months Supply of Inventory | 5.0 | 3 | 72.4% |
Colombia is Once Again Top Country Searching Miami Real Estate
Colombia posted the most global web searches for Miami homes in May 2023, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia has now finished No. 1 or No. 2 among the top list of foreign countries searching for Miami real estate in each of the last 15 months. Colombia accounted for 10.9% of all international searches on MiamiRealtors.com in May 2023, near its percentage of searches in May 2022 (12.34%).
Related Posts
Homestead Exemption – What is it?
Property owners with Homestead Exemption and an accumulated SOH Cap can apply to transfer (or "Port") the SOH Cap value (up to $500,000) to…
Mercedez Benz Branded 67-Story Mixed-Use Tower is Coming to Miami
Dubbed Mercedes-Benz Places, the 67-story mixed-use building in Brickell is slated to open in 2027. Two months after Mercedes-Benz…