Miami Condo Market Report

As a realtor, you always get asked “how’s the market ?” To answer that questions in details, I create the Miami Condo Market Report.

Of course, the short and quick answer is  “it depends”. And it always does depend. Real estate markets are not only hyperlocal, as in one building could have a very different market situation than the building next to it, but it also depends on what kind of market segment you are looking at. Are you buying a single family home ? A condo ? A multifamily investment property ? Are you planning on selling ?

Why do many realtors always say that the market is great ? If you’re like most people, you probably think we  typical sales people. Always telling you what you want to hear.

While that might be correct for some realtors, it’s definitely not true for all of us. I do strongly believe in statistics (or facts as you might call them).

The market however is almost always great for someone. If we are in a seller’s market and you want to sell, you’ll  probably agree that the market is great, however the buyer looking to acquire a property at a great price in the same market will certainly disagree with you. Vice versa in a buyer’s market. You get the gist.

So how is the Miami condo market these days ?  While my general Miami condo market reports are more specific to South Beach or even specific buildings, I wanted to to a general overview of the larger Miami Dade county market to see how the general picture looks.

The overall Miami Condo Market is actually looking to be in much better shape than what I found my report from Jan of 2017 Why you should sell your South Beach Condo now.

Word of caution: These stats are for ALL of Miami Dade condos. If you really want to know whether it’s a good time to buy or sell, you have to get much more specific, i.e. look in your zip code, neighborhood and even the specific building you are interested in.

Case in point, I just came across two buildings that are 4 blocks from each other where one had a 500% price increase since 2002 and the other one has actually barely held it’s value in the same timeframe.

If you are looking to buy or sell a Miami Dade condo, I am more than happy to run the numbers for you, so you can make an educated decision.

Watch below video for our current Miami Condo Market report.