If you’re thinking of selling and are 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!
Miami Market Report: Recap 2021February 23, 2022
Market Report: Miami-Dade County Recap 2021
Miami is experiencing positive momentum. Now more than ever, people have the ability to work from anywhere, and they are moving to places that best suit their needs and lifestyle. According to the US Census, Florida had the largest net domestic migration gain in 2021 with 220,890 moving from out-of-state. As a result, Miami real estate is in high demand.
In 2021, the average sold price for single-family homes in Miami-Dade was up 44% to $979K vs 2020. The number of closed sales increased by +16% and average price per sq ft increased by 34%.
Single-Family Homes: 2021 vs 2020
Total Sold: 16,585 up +16%
Avg Sold Price: $979K up +44%
Avg Sold Price per Sq Ft: $438 up +34%
Sales $ Volume: $16.3 Billion up +66%
CONDOS & TOWNHOMES
The number condos/townhomes sold in 2021 almost doubled compared to 2020. The average sold price increased by +41% and and average price per sq ft increased by 40%.
Condos & Townhomes: 2021 vs 2020
Total Sold: 25,576 up +80%
Avg Sold Price: $601K up +41%
Avg Sold Price per Sq Ft: $449 up +40%
Sales $ Volume: $15.5 Billion up +153%
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