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Miami Real Estate Reports

The Analytics Miami reports are independent research, not paid for by brokerages. The reports are unbiased towards any outcome and are presented without hype. We believe in letting the data and the charts speak for themselves.

Understanding where we are in the current market cycle is a key factor to consider when making investment decisions. All markets move in cycles and have directionality; nothing goes up forever and nothing goes down forever. Reporting quarter- over-quarter is not enough to reveal the prevailing trend. Analytics Miami reports show at least 10 years of data, thus shedding light on market directionality.

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2020 & 2019 ReportsAnalyticsMiami

Supply and Demand: Miami and Miami Beach condos
Data is through Q4 2019

Extreme Disconnect
There is a fundamental supply & demand disconnect in the Miami area luxury condo market. Since Q4 2013, the Miami $1M+ condo market saw a 178% increase in supply. Demand decreased 18% in the same time frame.

Cash Was King
This last cycle was fueled by cash buyers. At 2013 volume highs, Miami Beach was 76% all cash and Miami was 70%. In 2019 those numbers were 61% and 42%. The high % of cash means there is low debt service pressure, which may be why we are seeing listings languish.

State of the Market: Miami Beach Condos
Data is through Q4 2019

Destination Money
The current market cycle catered to and was driven by destination money. The average 2019 resale price for a condo built post 2000 was $1.6M. Virtually no inventory was added at price points catering to in-place demand.

Cash Was King
The current market cycle was fueled almost entirely by cash. At transaction volume highs in 2013, 76% of condo sales were cash. 2019 transaction volume was 37% below 2013, and that drop is due entirely to the loss of cash buyers.

Q3 2019
Supply and Demand Report: Miami area condo market

Supply and 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.

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.

2017 & 2018 ReportsAnalyticsMiami

AnalyticsMiami Special Report: Miami Condo Inventory, start of 2018

This report charts months of Miami condo inventory, going back to 2007. The charts show that the Miami condo market is at all-time high levels of inventory. Some prices points have almost twice as many months of inventory as during the last downturn.

AnalyticsMiami Long term trends, Miami-Dade condo report 2017

This report shows all key Miami condo market metrics, charted back to 2006. The data indicates that we are at various extremes in the condo market cycle. Also indicated is a clear bifurcation between locally supported and outside money dependent price segments.

AnalyticsMiami Special Report: Miami Beach condo market through Q2 2018

Q2 2018 saw a record number of $3M+ condo transactions in Miami Beach. After years of declining sales volume, sellers are starting to meet buyers. The oceanfront luxury condo market is starting to clear at 2013 prices, and high profile hedge fund managers are leading the way.

AnalyticsMiami City of Miami Beach, The Missing Middle Report, February 2018

In February 2018, Ana Bozovic gave a presentation the city of Miami Beach's land use committee. The presentation is entitled "The Missing Middle." It charts long term trends in Miami Beach's population and housing stock. The results are clear: Miami Beach has added virtually no new housing stock for middle class residents and has a housing market increasingly dependent on outside money.
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