Miami Market Report: July 2022

Miami Market Report: July 2022


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
FULL Market Report July 2022
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