The Newsweek headline reads: Miami Home Prices Plunging. The article starts by saying that "prices of homes in Miami fell by more than 11 percent last month. That statement is false and misrepresents Realtor.com data. I have pulled pricing and listing price data for the city of Miami, for SFH and for Condos. SFH median prices in May 2024 were up 10% YOY, and median listing prices were up 75%. Condo median prices in May 2024 down 1% YOY, and median listing prices were up 18% YOY.

The Newsweek headline reads: Miami Home Prices Plunging. The article starts by saying that "prices of homes in Miami fell by more than 11 percent last month. That statement is false and misrepresents Realtor.com data. I have pulled pricing and listing price data for the city of Miami, for SFH and for Condos. SFH median prices in May 2024 were up 10% YOY, and median listing prices were up 75%. Condo median prices in May 2024 down 1% YOY, and median listing prices were up 18% YOY.

August numbers are in, and the prevailing trends remain strong: 1) For purposes of discussion, we have two markets: the very high and and everything else. --> August sales volume of SFH past $1K / SF was higher than last year, despite overall volume drops. (Contact me for on & off market opportunities & buildable lots) 2) Data quantifying macro trends pushing high value domestic migrants keeps coming in. It is my belief that forces pushing high net worth domestic migration are still in their infancy.

There is a fundamental disconnect between supply & demand in the Miami and Miami Beach condo markets. 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

There is a fundamental disconnect between supply & demand in the Miami and Miami Beach condo markets. 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