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January 2020 Monthly Condo Report

Welcome To Our Monthly Report
KEY NUMBERS (Compared to January 2019)

· Number of Condo Sales Up 16.4%
· Number of Single Family Sales Up 14.6%
· Median  Condo Price - Up 6.5%
· Median Single Family Price Up 7.1%
· Inventory (# of listings)
          Condos Down 9.8%
          SFH Down 13.6%

 

 Another strong month for both Single Family and Condos. Condos sales were up a solid 16.4% with Single Family up 14.6%. and New Contracts -Pending Sales– were up 11.4% and 16.2% respectively (indicating a substantial increase in future closed sales). Sales over $1 million were up in both categories. Condos had the strongest gain - 52.5% - in the $400k to $600k range while Single family strongest gain - 51.5% -  was in the $600k to $1mm range. The Sluggish condo market is changing. With the continued trend of more closed and pending sales, and less inventory, I stand by my last’s month’s prediction that the bottom of the market is behind us. Stay tuned.

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