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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%.