In Miami Beach, the single-family homes for-sale inventory decreased by 3% from the previous month yet remains 80% higher than one year ago. Luxury sales fared better than other price tiers, particularly homes priced above the $10 million threshold. There is a softening of the market though the market for single-family homes still slightly favors the Seller.
Condominium sales in Miami Beach are still strong with the median price per square foot increased by 11% from last month, the largest increase in the region, and remained roughly 13% higher than a year ago. With list prices increasing, fewer condos were sold at a premium in January. The number of sales has decreased though the condo market still favors the Seller.
Read the full TRENDS report to see the Real Estate Trends for East Florida in different counties.
