The Market is Changing!
Single-family Homes
The average sold price for single-family homes in Miami-Dade in July 2022 was $1.05 million, up +7% year-over-year. Fewer single-family homes were sold and inventory levels doubled.
- July 2022 vs year-over-year
- Listed: 1,837 up +1%
- Pended: 1,040 down -20%
- Sold: 946 down -35%
- Months of Inv: 3.9 up +105%
- Avg Sold Price: $1.05 million up +7%
The market is currently at 3.9 months of inventory. A balanced market has 4 to 8 months of inventory. More inventory means more options for buyers.
The average sold price increased by 7%. However, the consumer price index increased 8.5% in July 2022 year-over-year.
Condos & Townhomes
The average sold price of a condo/townhome was unchanged year-over-year at $571K. Fewer condos/townhomes were listed, sold, and went under contract compared to year-over-year. Inventory increased.
- July 2022 vs year-over-year
- Listed: 2,364 down -19%
- Pended: 1,432 down -28%
- Sold: 1,346 down -45%
- Months of Inv: 4.5 up +32%
- Avg Sold Price: $571K unchanged
If you are interested in buying or selling a home, contact us today. We will gladly help you reach your real estate goals!
Connect with us:
Rebeca Castellon Group
305-600-8493
[email protected]
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