Its a sellers market according to recent data which indicates Dade County is currently in a sellers market and is trending towards a neutral market in the upcoming months. The above graph shows the number of properties for sale divided by the number of properties sold (i.e., Months of Inventory (MOI) based on Closed Sales) for the last 5 years. Simply put, abundant inventory and low sales leads to a higher MOI, while low inventory and high sales leads to a lower MOI. For Dade County we are currently at a 3.6 MOI which puts us at the cusp between a sellers market (MOI less than 3) and a neutral market (MOI 3-6), with the trend indicating we are likely moving toward a neutral market. The implications for sellers is that as we move further toward a neutral market there will be more competition as the market will continue to be flooded with inventory which provides buyers with additional options. We get a more varied picture of the market when we examine the MOI's by different pockets in Miami. Brickell is clearly in a sellers market (MOI = 2), with Coconut Grove (MOI = 3.6) and Doral (3.8) both on the cusp of a sellers and a neutral market. Lastly, South Miami (MOI = 8) and Miami Beach (MOI = 6) are currently in a buyers market.
If you are looking to buy or sell feel free to call me directly at 305.496.6693 or email me here:email@example.com to prepare a complimentary "comparative market analysis".
Since joining EWM realtors in 2009 I have become one of the top realtors in Miami, having a volume of sales within the top 1% nationally. I have experience dealing with all types of clients and I strive to develop ways to identify and meet their needs to ensure the process is as simple and stress-free as possible.
If you are looking to buy or sell feel free to call me directly at 305.496.6693 or email me here:firstname.lastname@example.org to prepare a complimentary "comparative market analysis". Also, to find valuable information about the buying and selling process, information about all the different neighborhoods in Miami, and/or a complete list of all my listings (with full descriptions) please click here.