South Miami Trends – Condo/Townhouse

The following graph represents the number of condos and townhouses for sale versus sold and pending on a monthly basis in South Miami:

This graph represents the average price per square foot for condos & townhouses in South Miami:

The following graph displays the average time condos & townhouses in South Miami have spent on the market, compared on a monthly basis. The percentages on the blue line represent what prices property’s sold for relative to their asking price. For instance 90% means that homes on average sold for 90% of their list price. If a home was listed at $300,000 it then sold on average for $270,000.

The graph below represents the average price of condos & townhouses for sale in South Miami versus sold. The green line displays the average price for sale and the red line the average price sold.

The following graph displays months of inventory on the market.

A general rule of thumb:

<3 of inventory = Seller’s market

Between 3 – 6 months = neutral market

>6 months = Buyer’s market

Lindsey Brown P.A
EWM Realty International

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