According to our Miami Area Report for May 2019, the City of Miami residential real estate market is continuing to improve year-over-year. Median selling prices are up by 7.02% while median days on market have decreased by 24.32%.
After hovering around a “normal, balanced” market for the past year, supply of inventory dropped dramatically in May 2019 to just less than 2 month’s supply. This not does yet indicate a trend, but if supply remains well below 6 months for the next couple of quarters, it would would be very good news for sellers in the City of Miami.
Keep in mind that this data is for the entire City of Miami. Individual micro-markets may be performing very differently. Click here if you would like a custom Market Analysis for your neighborhood
The statistics presented in the Area Report are compiled based on figures and data generated by IDC Global and Datafloat and may not be completely accurate. All information should be independently verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Not intended as a solicitation if your property is already listed by another broker. Real estate agents affiliated with Coldwell Banker Residential Real Estate are independent contractor agents and are not employees of the Company. ©2019 Coldwell Banker Residential Real Estate. All Rights Reserved. Coldwell Banker Residential Real Estate fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Owned by a subsidiary of NRT LLC. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC.