Miami Real Estate Report, July 2021 Statistics
KEY NUMBERS (Compared to July 2020)
- Number of Condo Sales Up 103.7% YTD 122.7%
- Number of Single Family Sales Up 15% YTD 40%
- Median Condo Price – Up 30.8% YTD 23.1%
- Median Single Family Price Up 25.6% YTD 21%
- Closed Dollar Volume
- Condos: $1.3billion Up 187%
- SFH: $1.4billion Up 67%
Compared to July last year all the numbers are up except inventory and month’s supply. With such demand and tight supply prices are doing what would be expected. Condo median price up 30.8% – Single Family up 25.6%. Number of Condo sales up 103.7% and dollar volume up 187% but comparing to July 2019 – pre-pandemic – the numbers are still strong, sales up 85% and volume up 178%.
Single Family numbers are strong but not as exaggerated as condos as the single family market was hot before the condo craze kicked in. Buyers are buying higher priced properties. Condos sales over $1 million were up 323% and Single Family sales up 110%. There is strong demand for Miami real estate from the Tech and Finance industries, people looking to pay less in taxes and those in search of a great quality of life…. It’s here!
Next Report for August Statistics will be September 22, 2021
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