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April 2020 Monthly Single Family Home Report

Miami Real Estate Report, April 2020 Statistics
KEY NUMBERS (Compared to April 2019)

· Number of Condo Sales down 47.9%
· Number of Single Family Sales down 31.6%
· Median  Condo Price - Up 6.9%
· Median Single Family Price Up 7.3%
· Inventory (# of listings)
          Condos Down 9%
          SFH Down 12.4%

 As we’re starting to see things opening up we must remain committed to keeping ourselves and our families safe. It’s no surprise that the number of closed sales is down. Closed sales in April would have gone under contract in March when virtually nothing was being shown, which continued through April and just this week Miami-Dade is allowing showings in condo buildings which explains the 68.5% and 48.2% drop in new pending sales for condos and single family homes respectively.  This will translate into continued drops in closed sales for the coming months. Most Industry Insiders, including myself, believe our market is poised to rebound, in time, as it always has.

SELLING COASTAL MIAMI TO THE WORLD!

Ralph E. De Martino -- Aura Cecilia Rengifo ,
Ocean International Realty
5151 Collins Ave., Suite 227
Miami Beach, FL 33140

Phone 305.695.1105
Fax 305.328.4690
ralph@OIRmiami.com