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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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    2022 ReportsAnalyticsMiami

    Q1 2022 Miami Real Estate Report & Forecast
    The flight of capital and talent continued with no sign of abatement.
    A major shift in focus is underway.

    $1M+ transactions on fire
    Transactions above $1M were up 6x in Q1 2022 versus pre Covid levels in Q1 2019. The biggest jump in Q1 2022 was in $1M+ condos, with transaction volume up 9.5x versus pre Covid. Q1 2022 had more $1M+ condo transactions than previous calendar years.

    Inventory at record low & falling
    Inventory continued to steadily fall throughout Q1 2022, Aggregate city-wide inventory fell a staggering 62% versus the same time period in 2019. Sub $1M condos had the biggest drop versus pre Covid levels, with inventory falling 69%.

    2021 ReportsAnalyticsMiami

    2021 Annual Report & Forecast
    South Florida's Cash Tsunami & The Great Pandemic Migration are Reshaping America

    Dollars Spent At All-Time Highs
    $77.5B was spent in South Florida in 2021, thats an extra $38B compared to the same time period in 2019. While dollars spent rose 96%, properties sold rose 28%. The surge in spending is fueled by $1M+ properties, as capital relocates to the region.

    Inventory At All-Time Lows
    Active listings continued to fall in each county and across all price segments. Overall, tri-county inventory for condos & SFH fell a staggering 58% versus the same time in 2019.

    2021 Annual Report & Forecast
    Miami’s record shattering year is the new normal, as the flight of capital continues.

    Flow of money at record high
    Almost twice as much money was spent on condos & SFH in the city of Miami during 2021 versus pre-Covid levels in 2019. Sales volume rose only 31% for the same period, indicating that the surge is driven by demand for higher priced properties.

    Inventory at record low
    Inventory continued to steadily fall throughout 2021, reaching all time lows across property types and across price points. Aggregate city-wide inventory fell a staggering 50% versus the same time period in 2019.

    2021
    South Florida Cash Tsunami, Real Estate Report
    Data is through Q3 2021

    Dollars Spent At All-Time Highs
    $59B was spent in South Florida Q1-Q3 2021, thats an extra $29B compared to the same time period in 2019. While dollars spent rose 95%, properties sold rose 31%. The surge in spending is fueled by $1M+ properties, as capital relocates to the region.

    Inventory At All-Time Lows
    Active listings continued to fall in each county and across all price segments. Overall, tri-county inventory for condos & SFH fell a staggering 51% versus the same time in 2019.

    2021
    Magic City Miami Real Estate Report
    Data is through Q3 2021

    FlowOf Money At Records High
    Almost twice as much money was spent on condos & SFH in the city of Miami during the first three quarters of 2021 versus pre-Covid levels in 2019. Sales volume rose only 31% for the same period, indicating that the surge is driven by demand for higher priced properties.

    Inventory At Record Low
    Inventory continued to fall into Q3, reaching all time lows across property types and across price points. Aggregate city-wide inventory fell a staggering 42% versus the same time period in 2019.

    2020 & 2019 ReportsAnalyticsMiami

    2020
    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.

    2020
    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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