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February 2020 Monthly Condo Report

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

· Number of Condo Sales Up 4.7%
· Number of Single Family Sales Up 9.8%
· Median  Condo Price - Up 2%
· Median Single Family Price Up 7.2%
· Inventory (# of listings)
          Condos Down 9.8%
          SFH Down 14%

 Another month with positive numbers for Single Family and Condos. Closed sales for both were up and New Pending Sales– were up 7% and 10.9% respectively (indicating an increase in future closed sales). Condo Sales priced between $600,000 and $1 million were up a strong 47.2% while Single family sales showed strong gains in the $400,000 to $1million ranges and up 17.9% over $1million. Since December the sluggish condo market has been going in the right direction and Single Family market is in the Seller’s Market category. We all must plan, take action and not panic to get through this Coronavirus episode as quickly as possible. Be safe! Next Report - April 21.

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