December 2024
MIAMI DADE - MARKET UPDATE
The real estate market in Miami-Dade County in December 2024 demonstrated significant trends across both single-family homes and townhouses/condos. Here's a breakdown of the key metrics for these property types, highlighting how the market has evolved compared to last year.
Miami-Dade Single Family Home
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Closed Sales: 829, an increase of 9.9% year-over-year.
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Median Sales Price: $675,000, up 11% from last year.
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Active Inventory: 4,683, up by 25%, showcasing more options for buyers.
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Months Supply of Inventory: 5.2 months, a rise of 4.3%, signaling a more balanced market.
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New Listings: 1,086, reflecting an increase of 10% year-over-year.
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New Pending Sales: 404, down 42%, indicating slower contract activity.
Miami-Dade Townhouses and Condo
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Closed Sales: 935, a decrease of 2.6% from last year.
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Median Sales Price: $430,000, up 4.9%, marking steady price growth.
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Active Inventory: 11,256, an impressive 46% increase, indicating abundant availability.
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Months Supply of Inventory: 11.1 months, up 6.8%, leaning toward a buyer’s market.
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New Listings: 1,825, a notable 18% increase, bringing fresh opportunities.
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New Pending Sales: 517, down 42%, reflecting slower buyer engagement.
