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March 2020 Monthly Condo Report

Miami Real Estate Report, March 2020 Statistics

KEY NUMBERS (Compared to March 2019)

· Number of Condo Sales down 0.6%
· Number of Single Family Sales Up 1.6%
· Median  Condo Price - Up 9.8%
· Median Single Family Price Up 9%
· Inventory (# of listings)
          Condos Down 9.5%
          SFH Down 12% 

Hoping this report finds you and your families healthy and safe. It was mid-March when Miami-Dade was declared a State of Emergency. The Closed sales in March were under contract before that time but where you can see the effect is that new Pending Sales for Condos and Single Family were down 36% and 24% respectively and new listings were down 25% and 14%. Today most activity is online. We’re working remotely with daily Zoom meetings and readying ourselves for when  things open up. Most Industry Insiders, including myself, believe our market is poised to rebound as it always has, but when and how are the big questions.
Be safe! Next Report - May 21.


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