- Inventory Trends: Over the years, Miami-Dade’s inventory of condos and townhouses has fluctuated:
- 2019: 14,662 units
- 2020: 12,898 units
- 2021: 6,434 units
- 2022: 6,673 units
- 2023: 7,690 units
- 2024: 10,443 units.
- Key Insight: While inventory grows, it remains below pre-pandemic levels, creating unique opportunities for buyers and sellers.
Miami-Dade County Single-Family Home Inventory Trends
Over the years, the inventory of single-family homes in Miami-Dade County has significantly changed. Here’s an overview of the available inventory from 2019 to 2024:
- 2019: 6,190 homes for sale
- 2020: 3,659 homes for sale
- 2021: 2,563 homes for sale
- 2022: 4,453 homes for sale
- 2023: 3,755 homes for sale
- 2024: 4,797 homes for sale
These numbers reflect the dynamic nature of Miami’s real estate market, which is influenced by population growth, economic shifts, and evolving buyer preferences. While inventory levels have improved since 2021’s low, they remain far below pre-pandemic levels, presenting unique opportunities for buyers and sellers.
Market Insights for Buyers and Sellers
- Mortgage Rates: Economists predict that mortgage rates will average around 6.8% in 2025. Acting early could save you significant costs.
- Selling Strategy:
- Well-maintained homes sell faster and for higher prices.
- Original-condition properties may face longer market times.
- Competitive pricing is crucial.
- Opportunities for Buyers:
- Miami-Dade condo prices show slower growth due to rising assessments.
- Single-family home median prices have risen, signaling continued demand in premium segments.
- Economic Strength: Miami leads national job growth, attracting out-of-state buyers and supporting long-term demand.
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