Miami Real Estate Report, March 2021 Statistics
KEY NUMBERS (Compared to March 2020)
- Number of Condo Sales Up 80%
- Number of Single Family Sales Up 40.9%
- Median Condo Price – Up 13.4%
- Median Single Family Price Up 28.3%
- Inventory (# of listings)
- Condos Down 28.1%
- SFH Down 55.2%
The money is coming to Miami!
Condo sales are up 80%, Single Family up 41% with a combined Dollar Volume of $3 Billion – close to 150% increase over last March. New Pending Condo Sales are up 206.8% indicating the strength of the current market and future increases in closed sales. Single Family New Pendings are up 73%. The market come back is in full gear reminiscent of the come backs starting in 2002 and again after the recession in 2012. So much of the sales activity is from domestic buyers being drawn here for the high quality of life, no income taxes and the new normal of working remotely. With less travel restrictions coming, International Buyers will soon be here too. It’s time to buy and a great time to sell.