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Miami-Dade Real Estate Report: Year-End 2019
February 11, 2020 at 12:49pm | Georgee Kluck
Condo market inventory across all price ranges ended down 7% over last year.
Condo closed sales down roughly 1% and pending sales up almost 10% at year-end.
The average condo sale price was $375,000. The average condo list price is $875,000.
An average of 1,000 condos close every month and there are over 14,000 currently for sale, leaving approximately 13,000 condos unsold each month.
SINGLE FAMILY HOMES
The year ended with inventory down approximately 10% over the same time the previous year.
Closings were up slightly.
Pendings up over 9%.
Average price per square foot up almost 6%.
The average price sold up almost 6%, coming in around $550,000.
The average list price is climbing, approximately 5% at about $1,400,000.
THE BOTTOM LINE:
Real estate trends are hyperlocal. If you would like to know how the market specifically translates to your neighborhood, call me today at 305.608.5269 for a personal consultation. *Numbers rounded to the nearest thousand *Information gathered through Miami RE Trends and MLS