Balance Market for Single Family Homes
At the current sales pace, the number of active listings represents 6.2 months of inventory for single-family homes and 13.6 for condominiums. A balanced market between buyers and sellers offers between six and nine months of supply inventory.
Miami real estate had 22,087 active listings in the third quarter, a 5.7 percent increase from the 20,894 listings at the same time last year. The inventory for single-family homes increased 9.8 percent, from 6,060 to 6,652. Miami existing condo inventory grew 4.1 percent, from 14,834 to 15,435.
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