Miami Market Focus Report – January 2025
The Miami real estate market continues to show dynamic shifts as inventory levels rise and sales activity adjusts. While total home sales declined by 2.7%, pricing remains strong, with both single-family homes and condos experiencing price appreciation.
Market Overview
- Total Home Sales: Down 2.7%Single-Family Homes: Decreased 0.2%
- Condo Transactions: Decreased 4.8%
- Total Active Listings: Increased 38.4%
Inventory & Market Conditions
- Single-Family Home Inventory: 5.6 months, slightly up from last month
- Condo Inventory: 11.9 months, continuing to increase
- Market Trend: Still a seller’s market for single-family homes, but shifting toward a balanced market. The condo market leans further toward a buyer’s market as inventory rises.
Pricing Trends
- Single-Family Homes: Median price up 7.1% to $675,000
- Condos: Median price up 2.5% to $415,000
Key Takeaways
- Rising inventory levels indicate an evolving market, with more options available for buyers.
- Single-family homes remain in demand, but the market is gradually balancing.
- Condo inventory continues to rise, creating more opportunities for buyers and investors.
As Miami’s real estate landscape shifts, staying informed is crucial for buyers, sellers, and investors. For a personalized market analysis or expert guidance, contact Global Vanguard International today!
