Miami’s 10-Year Coastal Area Condo Trends

Miami's 10-Year Coastal Area Condo Trends

Miami’s 10-Year coastal area condo trends show us that there may never be a better time to sell at a premium value. Supply is continually falling while demand remains strong.

These historic charts end December 2021 however the market has continued in this direction during Q1 2022 as we see in the February blog research. This Miami Beach blog pertains to a general market trend overview looking at the last decade at a glance.

Home For Sale in December 2021 (End of Qtr): 1963 units.
Down 10.2% compared to last quarter
Down 45.4% compared to last year

Home Listed in December 2021 (Quarterly): 1410 units.
Down 3.7% compared to last quarter
Up 5.2% compared to last year

Home Closed in December 2021 (Quarterly): 960 units.
Down 5% compared to last quarter
Up 76.1% compared to last year

Home Placed under Contract in December 2021 (Quarterly): 1012 units.
Up 17.9% compared to last quarter
Up 50.6% compared to last year
Miami's 10-Year Coastal Area Condo Trends - Ave Sale Price per Square Foot
Average Sold Price per Square Footage in December 2021 (Quarterly): $903
Up 19.3% compared to last quarter
Up 26.3% compared to last year
Miami's 10-Year Coastal Area Condo Trends - Ave Days On Market
December 2021 (Quarterly) Average Days on Market trend is Falling*

Average Days on Market in December 2021 (Quarterly): 128
Down 15.8% compared to last quarter
Down 39.3% compared to last year

December 2021 (Quarterly) Sold/Original List Price Ratio is Rising*

Sold/Original List Price % in December 2021 (Quarterly): 96%
Up 1.1% compared to last quarter
Up 11.6% compared to last year
Miami's 10-Year Coastal Area Condo Trends - Absorption Rate
Months of Inventory based on Closed Sales in December 2021 (Quarterly): 6.1
Down 6.2% compared to last quarter
Down 69.2% compared to last year

Miami’s coastal condo trends will be most interesting as this year continues. Check back often for the latest news and statistics on all things Miami residential real estate.

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