Miami Real Estate Report, December 2021 Statistics
Miami Real Estate is in demand and it’s a movement, not a moment. I’m writing this in Orlando attending the Florida Realtors Mid-Winter Meetings and just came out of the Real Estate Trends program presented by Chief Economist, Brad O’Connor, PhD. There was quite a discussion about the effects of the pandemic, Florida being open, people coming for a more quality life, working remotely, liking it and staying, no income tax, and a business welcoming environment. And due to dramatic increases in rentals, renters and investors are buying too. The entire state saw major increases in number of sales, and prices. And Miami had the biggest increases. Condo sale were up 28.4% from last year and 80.9% YTD. Single Family sales, due to a lack of inventory, were down 1.2%. Condo & SFH median prices were up 29.3% 15.4% respectively.
KEY NUMBERS (Compared to December 2020)
- Number of Condo Sales Up 28.4% YTD 80.9%
- Number of Single Family Sales Down 1.2% YTD Up 18.5%
- Median Condo Price – Up 29.3% YTD 24.1%
- Median Single Family Price Up 15.4%
- Closed Dollar Volume
- Condos $1.4Bill. Up 68.5%
- SFH $1.7Billion Up 27.7%