by | Nov 19, 2020 | Real Estate

Aerial photo of South Pointe beach, with ocean and luxury convos in the backdrop

October 2020 Condo Real Estate Report

Miami Real Estate Report, October 2020 Statistics

There’s big money chasing Single Family Homes! The average sale price is up 52% and total dollar volume up 75.5%! With inventory down 40% causing major price increases, we’re anticipating more buyers to consider buying a condo. The condo market continues to improve with closed sale up almost 17%, volume up 19.4%, pending sales up 31% and inventory down 8.4%. The beach market is softer than the mainland where domestic buyers are buying primary residences, but the beach market has many outstanding opportunities and the superior quality of life and outdoor living is drawing renewed interest and with air travel opening up international buyers will be back. Stay safe and be well.
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KEY NUMBERS (Compared to October 2019)
  • Number of Condo Sales Up 16.7%
  • Number of Single Family Sales Up 15.7%
  • Median Condo Price – Up 8.5%
  • Median Single Family Price Up 19.2%
  • Inventory (# of listings)
    • Condos Down 8.4%
    • SFH Down 39.8%
Summary statistics for all October statistics. Close sales statistics chart, with monthly changes and year-to-date numbers.

Statistics chart for cash sales and cash sales as a percentage

Statistics chart for cash sales and cash sales as a percentage of closed sales. Both have year-to-date and monthly statistics. Statistics chart for median sale price and average sale price. Both have year-to-date and monthly statistics. Statistics chart for median sale price and average sale price. Both have year-to-date and monthly statistics. Statistics chart for median time to contract and median time to sale. Both have year-to-date and monthly statistics. Statistics chart for new pending sales and new listings. Both have year-to-date and monthly statistics. Statistics chart for inventory (active listings) and months supply of inventory. Both have year-to-date (monthly average)and monthly statistics. Statistics chart for closed sales by sale price and median time to contract by sale price. Statistics chart for new listing by initial listing price and inventory by current listing price. Statistics about traditional, foreclosure/REO, and short sales. One is done over closed sales percentages. The other is done over median sale price.

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