🇺🇸❤️🇮🇹 South Florida Market Stats for Miami Dade

🇺🇸❤️🇮🇹 South Florida Market Stats for Miami Dade

Miamis Real Estate Scene Unveiled; An Overview of February 2024

Miami, a city, in Florida known for its beaches and diverse culture has always attracted residents and investors alike. In our exploration of Miamis real estate market in February 2024 lets take a look at the trends in single family homes and townhomes/condos.

Single Family Homes; Embracing Positivity

In February 2024 Miamis single family home market experienced a wave of optimism of sunshine peeking through clouds after a summer shower. The number of sales reached 764 showing an increase of 5.1% compared to the previous year. Such momentum is enough to ignite excitement and fuel aspirations!

But that’s not all; another fascinating aspect unfolds. A remarkable 29.1% of these transactions were made in cash marking a 11.8% rise, from the year. Miami isn’t a city; it symbolizes ambition and the joy of accomplishment.

Lets delve into the specifics!

The median selling price painted a picture of success proudly reaching $650,000 showing a 17.1% increase, from February 2023. It’s not progress; it highlights the enduring charm of Miamis estate.

Now my fellow fans get ready for the highlight; the total dollar amount volume to $767,924,668, a 8.7% rise from the year. Can you sense the potential pulsating through the city streets?

In the midst of the festivities lets remember the core of resilience. Despite obstacles Miamis real estate market stood strong with 96% of the asking price received—a dedication to excellence.

Time—the mysterious currency of existence—seemed to yield to Miamis influence. The median time to secure a contract saw a 23.9% decrease dropping to 35 days..

Oh, the excitement! The median time to complete sales followed suit by decreasing by 9.4% to 77 days. In Miami dreams don’t just linger; they materialize swiftly. Leave onlookers amazed.

Active Inventory is 3, 895 with 7.7 % Change Year-over-Year and total of 4.4 months of supply of inventory with 15.8% Change Year-over-Year.

As February 2024 comes to a close, with its setting suns Miamis single family housing market stands as proof of resilience hopefulness and the everlasting essence of potential.

Apartments; Where Hopes Come Alive

Oh the pulse of city life! Miamis market, for townhouses and apartments a tapestry of dreams and ambitions shared its success story in February 2024.

Despite a dip of 2.5% closed sales sparkled with potential reaching a 941 transactions. In Miami setbacks serve as stones towards achievement.

Cash, the essential component of transactions flowed generously with 54.9% of purchases being made in cash. Showcasing that in Miami dreams are not only constructed but also safeguarded with certainty.

The median sale price. A symbol of prosperity. Proudly stood at $420,000 marking a 7.7% rise from the year. In Miami each sale signifies more than a transaction; it embodies the enduring charm of the city.

Dollar volume. The true reflection of ambition. Surged to $708,935285; an increase, by 7.0% resonating with the fulfillment of dreams.

Amidst the hustle and bustle of activity the market, for townhomes and condos in Miami remained steady with sellers receiving 95% of the listing price showcasing a dedication to excellence that’s unwavering.

Time, like a maestro orchestrating lifes symphony appeared to move in harmony, with Miamis rhythm. The average time it took to secure a contract saw an increase of 8.9% settling at 49 days.. Oh, the anticipation! The average time it took for properties to be sold followed suit, gently rising by 6.1% to 87 days. In Miami each moment isn’t just a fleeting instant; it reflects the enduring resilience of the city.

Active inventory for the year 2024 is 8, 826 making it 32% Change Year-over-Year. Months supply of inventory is 7.8 with 73.3$ Change Year-over-Year.

As we bid farewell to February 2024 let us carry forward stories of perseverance, progress and the unyielding vitality of Miamis real estate market. In this city dreams aren’t merely notions—they are brought to life with a passion.

Closing Thoughts; Embrace New Opportunities

In lifes tapestry Miamis real estate market shines as a vibrant strand that tells tales of resilience, progress and boundless potential.

As we navigate through changing tides let us not shy away but welcome the chances that await us.

In Miami every obstacle is seen as a chance to grow and every setback, as an opportunity for victory.

So my fellow explorers, lets move forward with optimism in our hearts, determination in our minds and excitement for what tomorrow holds. In Miami the adventure isn’t about reaching the end goal; it’s about embracing the opportunities that come our way, along the journey.

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