Miami’s Residential Real Estate Volume Is Up Double Digits Of Last Year
Recently released data from the Florida Association of Realtors shows that Miami’s residential real estate market is up significantly since last year, with some records being broken.
There was a total of 3,848 condos and townhouses closing in the areas of Miami, Fort Lauderdale, and West Palm Beach throughout December 2019. That number represents an increase of 17.9% compared to 2018. Pricing average was up 7.9 percent to $205,000.
The sales volume of single-family homes was 3,915 for the same month, up 15.5% over 2018 in the Miami area, while the average price was $375,000, up 7.1%.
The data analyzed came from MLS and doesn’t include pre-construction projects; therefore, the actual number is likely much higher.
Some areas are trading at an all-time high, according to an analysis by Douglas Elliman. Single-family homes in Miami Beach are at a new record as well, the report said.