February 2025
MIAMI DADE - MARKET UPDATE
The real estate market in Miami Dade is showing a mix of trends this February 2025. While some key metrics are down compared to a year ago, there are notable increases in inventory and new listings, reflecting a shifting market. Below are the key details for single-family homes and townhouse/condo properties:
Miami-Dade Single Family Home
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Closed Sales: Down -8.0% from last year, totaling 703.
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Median Sales Price: Up 0.8% from a year ago, reaching $655,000.
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Active Inventory: Up 32% from last year, with 5,140 properties available.
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Months Supply of Inventory: Up to 5.8 months from 4.4 months last year.
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New Listings: Up 6.4% from a year ago, totaling 1,587 new listings.
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New Pending Sales: Down -8.4% from a year ago, with 1,038 new pending sales.
The single-family home market in Miami-Dade County saw a drop in closed sales while inventory expanded, offering buyers more selection. Modest price growth points to continued demand, even as pending sales slowed compared to last year.
Miami-Dade Townhouses and Condo
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Closed Sales: Down -22% from last year, with 737 units sold.
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Median Sales Price: Up 8.3% from last year, now at $455,000.
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Active Inventory: Up 42% from a year ago, with 12,568 properties available.
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Months Supply of Inventory: Increased to 12.6 months from 7.8 months last year.
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New Listings: Up 4.8% from last year, totaling 2,487 new listings.
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New Pending Sales: Down -19% from a year ago, with 1,109 new pending sales.
