Miami Real Estate Report, November 2020 Statistics
KEY NUMBERS (Compared to November 2019)
- Number of Condo Sales Up 23%
- Number of Single Family Sales Up 18.7%
- Median Condo Price – Up 10.2%
- Median Single Family Price Up 23.3%
- Inventory (# of listings)
- Condos Down 10.1%
- SFH Down 40.4%
The condo market is coming back strong compared to November last year with 23% more closings, median price up over 10% and dollar volume jumped by 55.5%, plus pending sales are up 26.3%. County wide there is a 13 month supply of inventory but on the beaches its 20 months due to less travelers coming in to buy second homes but … there is the pent up demand we will be experiencing, hopefully soon. Single Family is still going strong and gaining speed. Dollar volume up 77.1%, closed sales up 18.7% and median prices jumping 23.3% as inventory is down over 40% with a 3.6 month supply. These factors have some potential home buyers thinking about condos.
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