Miami Market Report – January 2021February 26, 2021
The Miami real estate market is HOT!
The average sold price for single-family homes has more than doubled within the past 5 years to $921K. January 2021 had the lowest inventory levels and the highest number of pended (under contract) homes for a January within the past 5 years. The increase in average sold price is driven by people buying more expensive properties – especially above $2 million.
The condo & townhouse market is also strong. January 2021 was the highest average sold price and pended (under contract) units for a January within the past 5 years. Months of inventory was at lowest level within the same time period.
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Rebeca Castellon Group