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Q3 2019 Supply & Demand Report: Miami Condos & Miami Beach Condos

Inventory remain near highs, with some neighborhoods seeing 100+ months of luxury inventory.

Miami condo market: Supply & Demand Disconnect

Inventory has steadily risen across market segments, all while transaction volume has dropped off. Higher price points are the worst offenders. The Miami $1M+ market saw a 147% increase in supply since 2013, while sales dropped 32% in the same period.

Miami Condo Transaction Volume Below 2010

Miami Beach and Miami condo transaction volume remains below the post-recession numbers we saw in 2010. For most market segments transaction volume peaked in 2013, and has since been dropping. Recent changes to SALT deductions have not offset the volume decline.

Ana's Comments:

The macro drives the micro, and all markets are governed by supply and demand. When making investment decisions, awareness of the current market cycle is key. Nothing goes up forever and nothing goes down forever; you just need to know which side of the slope you are on.

Infographic: Miami Condo Market, Months of Inventory Across Key Neighborhoods

Miami Condo Market: Months of inventory, through Q3 2019

Miami Beach Condo Market through Q3 2019.
Transaction Volume & Inventory Charts.
Charts indicate a substantial supply-and-demand disconnect.

Miami Beach Condos, $1M+.

Transaction volume peaked in 2013.
Q3 2013 vs. Q3 2019
70% increase in supply, 34% decrease in sales.

Miami Beach Condos, $1M+: Active Listings Charted Monthly
Source: Miami MLS.
Active Listings
Q3 2013: 433
Q3 2019: 736
Miami Beach Condos, $1M+: Quarterly Transaction Volume, Q3 Totals Shown
Source: Miami MLS.
Sales Volume
Q3 2013: 80
Q3 2019: 53

Miami Beach Condos, the entire market.

Transaction volume peaked in 2013.
Q3 2013 vs. Q3 2019
38% increase in supply, 44% decrease in sales.

Miami Beach Condos: Active Listings Charted Monthly
Source: Miami MLS.
Active Listings
Q3 2013: 2,497
Q3 2019: 3,437
Miami Beach Condos: Quarterly Transaction Volume, Q3 Totals Shown
Source: Miami MLS.
Sales Volume
Q3 2013: 763
Q3 2019: 429

Miami Condo Market through Q3 2019.
Transaction Volume & Inventory Charts.
Charts indicate a substantial supply-and-demand disconnect.

Miami Condos, $1M+.

Transaction volume peaked in 2013.
Q3 2013 vs. Q3 2019
147% increase in supply, 32% decrease in sales.

Miami Condos, $1M+: Active Listings Charted Monthly
Source: Miami MLS.
Active Listings
Q3 2013: 433
Q3 2019: 736
Miami Condos, $1M+: Quarterly Transaction Volume, Q3 Totals Shown
Source: Miami MLS.
Sales Volume
Q3 2013: 80
Q3 2019: 53

Miami Condos, the entire market.

Transaction volume peaked in 2013.
Q3 2013 vs. Q3 2019
6% increase in supply, 21% decrease in sales.

Miami Condos: Active Listings Charted Monthly
Source: Miami MLS.
Active Listings
Q3 2013: 2,497
Q3 2019: 3,437
Miami Condos: Quarterly Transaction Volume, Q3 Totals Shown
Source: Miami MLS.
Sales Volume
Q3 2013: 763
Q3 2019: 429

How big are various segments of the Miami & Miami Beach condo markets?
Transaction distribution through Q3 2019.

Miami Beach Condos, resale market distribution, through Q3 2019.

Miami Beach Condos, sales distribution by $ per square foot. 2019 Sales through Q3.
Source: Miami MLS.
Miami Beach Condos, sales distribution by price. 2019 Sales through Q3.
Source: Miami MLS.

Miami Condos, resale market distribution, through Q3 2019.

Miami Condos, sales distribution by $ per square foot. 2019 Sales through Q3.
Source: Miami MLS.
Miami Condos, sales distribution by price. 2019 Sales through Q3.
Source: Miami MLS.

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Great content! Super high-quality! Keep it up! 🙂

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