High-end buyers in and around Miami are benefitting from a bigger scope of for-sale homes, helping keep the overall supply in a healthy range. But a closer look from EWM Realty International’s Insight Report shows South Florida luxury properties flooding the market, while those under $300,000 are in only two months supply.
- Homes under $300,000 in South Florida are in only two months supply.
- Months supply for single-family homes over $1 million in Miami-Dade County is currently 23 months.
- Miami-Dade County and Broward County both saw increases of luxury single-family homes and condos over the past year, at almost 49 percent and 38 percent, respectively.
- Since January 2016, 37 percent of all single-family homes and condos currently for sale in Southeast Florida’s MLS have reduced price by an average 10.5 percent.