January has closed out in Miami. How are the markets behaving so far in 2025? The tail of two markets continues to play out. -> sales volume of both SFH & Condos past $2K / square foot are up year-over-year, clocking in record transaction volume for the month of January. In Jan 2019, there were ZERO SFH sales past $2K / sq ft. Things can change quickly. New product at prime locations (especially end user product) is likely in under supply. -> the extinction of SFH below $500K continues. Active listings (inventory) in Miami Dade < $500K in January 2025: 640. Active listings (inventory) in Miami Dade <$500K in January 2019: 4,452 We are down 86% vs. pre Covid in 2019. This is the extinction of a price point.
Miami Real Estate: The Truth Behind Inventory Levels
Download my full Q2 2024 Miami Real Estate Report
This video is my general reply to all the fear-mongering click-bait out there that somehow uses Miami pictures, then quotes data from other cities in Florida.
One guy in particular, who shall go unnamed, is talking about "extreme spikes in Miami inventory" while using maps of aggregate data pertaining to listing prices - and none of it is specific to Miami.
So this report and video are very specific to the city of Miami. All data is MLS data.
Inventory is through July 2024.
All cash % are for the first half of 2024.
City of Miami SFH inventory, end of July 2024: 31% below July 2019, pre Covid
City of Miami condo inventory:
35% below pre covid.
So while the condo market has seen a recent uptick in inventory, none of this is bad when we consider the precipitous drops and spikes in median pricing that preceded all of this.
And let's not forget all cash percentages.
This is an objective analysis.
No segmentation here, just the general market.
Get on Ana’s List
I personally work with a select number of buyers every month.
Related Posts
