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August 2019 Monthly Condo Report

Miami Real Estate Report, August 2019 Statistics
KEY NUMBERS (Compared to August 2018)

· Number of Condo Sales down 3.8%
· Number of Single Family Sales down 1.9%
· Median  Condo Price - up 5.1%
· Median Single Family Price up 2.8%
· Inventory (# of listings)
          Condos up 0.9%
          SFH down 0.8%

 

Single family and condo sales were both down minimally with 1210 condo sales, down 48 from last August and 1164 SFH sales down 22. There definitely are sales but what is selling are properties that a properly prepared to sell, in desirable locations, easy to show and most importantly, priced correctly for this market. Median price for condos is up a reasonable 3.4% for the year although many areas have seen a softening in prices with higher priced properties selling. Condos and SFH new listings are both down, 12.6% and 16.8% respectively which caused the month’s supply to decrease - good indicator.

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