Almost everyone is curious about what is going on in the real estate market in Miami. That goes for residents and out-of-towners alike. And with the consistently changing market it’s important to stay on top of the housing market trends. The best way to do this is to look back over the past year and compare the numbers of today with those of 1 year ago:
In December 2008 there were 14,988 single family homes for sale in Miami-Dade County. In December 2009 there were 8,271. That’s a 44.8% decrease in the amount of homes for sale.
Looking at activity levels, for the end of 2008 there was an average of 625 sales per month compared to 807/month in 2009. A 29% increase in sales!
So, inventory is down and sales are up. That’s great news as we head toward a more balanced market and better times ahead in 2010.