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October 2019 Monthly Condo Report

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

· Number of Condo Sales down 0.2%
· Number of Single Family Sales Up 6.8%
· Median  Condo Price - Up 5.1%
· Median Single Family Price Up 4.3%
· Inventory (# of listings)
          Condos Down 4%
          SFH Down 4.6%

The single Family market is stable with a balanced 6.3 month supply of inventory and substantial increases in sales in the $400k to $600k and $1million plus segments. Condos on the other hand have a much greater supply with less demand especially in the Downtown and Coastal areas due to the noticeable lack of international and 2nd home buyers. County wide there is a 13.2 month supply but in those areas there is in excess of a 20 month supply. The Median prices are up due to the more expensive condos selling. Condo sales were down 0.2% with Dollar volume up 8.1% illustrating that point. Click Links for the Detailed Reports. Next Report will be out 12/19/19.

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