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December 2019 Monthly Single Family Home Report

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

· Number of Condo Sales Up 16.7%
· Number of Single Family Sales Up 16%
· Median  Condo Price - Up 4.3%
· Median Single Family Price Up 7%
· Inventory (# of listings)
          Condos Down 7.6%
          SFH Down 10%

 

Condo sales were up a whopping 16.7% and New Contract -Pending Sales– were up 16% (indicating a substantial increase in future closed sales) and the Total Dollar Volume was up 30.6%. Sales over $1 million were up an extraordinary 47.5% These are very strong numbers for the recovery from the previously sluggish condo market. Plus Inventory is down 7.6%. Strong sales and less inventory are bringing the supply and demand more in balance. It appears that the bottom of the market is behind us. The single Family market is stable with a 5.6 month supply and a 36% increase in $1 million + sales. Click Links for the Detailed Reports. Next Report  02/21/2020.

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