Miami Real Estate Report, October 2020 Statistics There’s big money chasing Single Family Homes! The average sale price is up 52% and total dollar volume up 75.5%! With inventory down 40% causing major price increases, we’re anticipating more buyers to consider buying a condo. The condo market continues to improve with closed sale up almost 17%, volume up 19.4%, pending sales up 31% and inventory down 8.4%. The beach market is softer than the mainland where domestic buyers are buying primary residences, but the beach market has many outstanding opportunities…

Miami Real Estate Report, October 2020 Statistics There’s big money chasing Single Family Homes! The average sale price is up 52% and total dollar volume up 75.5%! With inventory down 40% causing major price increases, we’re anticipating more buyers to consider buying a condo. The condo market continues to improve with closed sale up almost 17%, volume up 19.4%, pending sales up 31% and inventory down 8.4%. The beach market is softer than the mainland where domestic buyers are buying primary residences, but the beach market has many outstanding opportunities…

The Miami Single Family Market is robust! All the numbers are way up except for inventory. The median time to go under contract is 32 days and median reduction from the original list price is a mere 3% and sales over $1million are up 76.7%. The condo market is showing signs of improvement but is still a Buyer’s Market. New pending sales are up over 30% with closed sales up 6.3% and dollar volume up 26.3% indicating the buyers are buying more expensive units. Sales over $1million were up 34.9%…