Miami Real Estate Report, November 2021 Statistics
KEY NUMBERS (Compared to November 2020)
- Number of Condo Sales Up 42% YTD 88.3%
- Number of Single Family Sales Up 1.2% YTD Up 20.8%
- Median Condo Price – Up 28.1% YTD 23.8%
- Median Single Family Price Up 11.7%
- Closed Dollar Volume
- Condos $1.1Bill. Up 92.8%
- SFH $1.1Billion Up 15%
Miami Real Estate has been the focus of many transplants relocating here for quality of life and economic factors, with many from the Tech and Finance industries willing to pay in the higher price ranges. The single family inventory was depleted first and then interest turned to condos. SFH numbers continue to be positive – except for inventory – while condos numbers are exploding. November condo sale were up 42% from last year and 88.3% YTD. Since November 2019 – pre-pandemic – condo sales dollar volume is up 192%. Condo and Single Family median prices were up 28.1% and 11.7% respectively. The general consensus of the Industry Insiders is that this market is being built on real buyers, with money, moving here. They anticipate the movement to continue and prices will continue to increase with the pace diminishing in time.
