Miami Area Home Sales | 2006 vs. 2016 Comparison
Areas Studied: Miami Beach, Surfside, Bay Harbor Islands, Bal Harbour, Sunny Isles Beach
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Miami home sales volume is 53% higher than in 2006 while sale price values are up 15%. Just 26 homes sold in these areas over the last 30 days while today’s inventory reflects 566 Miami homes for sale or a 21.7 month supply – a strong buyer’s market indeed!
Miami HOME Trends
January to April; 2006
- YTD Closed Sales – 40
- Median Sale Price – $1.275M
- Median SP$/PSF – $519
- Median DOM – 76
January to April; 2016
- YTD Closed Sales – 85 (53 percent more sales this year)
- Median Sale Price – $1.5M (15 percent higher than 2006)
- Median SP$/PSF – $586 (11.5 percent higher in Sale Price PSF than 2006)
- Median DOM – 131 (55 days longer to sell)
All figure derived from the South Florida MLXChange
Buying opportunities become abundant with selection, strategy, cash and patience. We are ahead of 2006 not only in sales volume but also sale price values when comparing residential home sales & trends over the past decade.
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