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2022 Annual & 2023 Forecast: Miami Dade Real Estate Report
Sales Volume At High Prices / SF
The wealth and talent migration is seen when we chart sales past various price-per-square-foot thresholds. The condo market past $2K/SF had a record year, almost 5X higher than pre Covid, and was 82% cash. Whole new market segments are emerging, and they are a reflection of incoming appetites.
Inventory & Volume Below $1M
Inventory below $1M remains almost 60% below pre Covid realities. While below 2021 highs, sales volume is still up for the year versus pre Covid in 2019. Interest rates add friction, but the combo of low inventory and 50% cash buyers provides a floor.