Miami Beach Homes & Soon To Be A Seller’s Market.

Miami Beach Homes as a Seller's Market

Miami Beach homes are in high demand from the many lifestyle challenges and changes one might expect from this year and now with Q3 behind us, we see the latest trends shifting swiftly in favor of sellers.

As we look through the YOY trend graphs below, the data accumulated ends in September; as of mid-October, we have 83 purchase contracts pending with approximately 363 homes for sale in Miami Beach.

Year Over Year (YOY) Supply/Demand Trends

Miami Beach Home Inventory September 2020
end of Sept. Stats show us the May 2020 spike in sales contrasted to a decrease of housing inventory; see last graph.
Miami Beach Home Inventory September 2020
Miami Beach Home Average PPSF September 2020
end of Sept. Stats show us an average price per square foot ending > $1,000 psf.
Miami Beach Home Average PPSF September 2020
Miami Beach Home Ave DOM SP-LP Ratio September 2020
end of Sept. Stats show us buyer’s getting discounts ~ 9% off list price with just under 6 months to sell.
Miami Beach Home Ave DOM SP-LP Ratio September 2020
Miami Beach Home Sold vs. For Sale September 2020
end of Sept. Stats show us list price values hovering $5.250m with sale prices hovering $4m.
Miami Beach Home Sold vs. For Sale September 2020
Miami Beach Home Months of Inventory September 2020
end of Sept. Stats shows us just 9.9 months of supply while a seller’s market is less than 3 months of housing inventory.
Miami Beach Home Months of Inventory September 2020

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