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Miami Market Report – December 2020 Performance

January 31, 2021

The Miami market experienced incredible sales in December 2020 despite it being the 10th full month under the Covid-19 pandemic.

AverageSold Price for single-family homes almost doubled in 5 years to $1.01 million. Inventory levels are low and this past December was the highest for pended homes within the past 5 years.

Compared to last December: Pended (under contract) homes is up +27%, Months of Inventory is down -38% and Average Sold Price is up +70%. These are all indications that prices will continue to increase.

The condo/townhome market experienced the highest Average Sold Price and Pended (under contract) units in December 2020 within the past 5 years. Months of Inventory was at lowest level in the same time period.

Compared to last December: Pended condo/townhome are up +56%, Months of Inventory is down -16% and Average Sold Price is up +26%. The condo/townhome maker appears unphased by Covid-19.

 

 

If you’re thinking of selling and curious about the value of your home in today’s evolving real estate market, contact Rebeca Castellon Group today. We would be happy to provide you with a no pressure home valuation and help you reach your real estate goals!

Connect with us:
Rebeca Castellon Group
305-600-8493
Rebeca@Property305.com

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