Most Florida markets we cover are seeing:
- Listing inventory is up modestly year over year but remains ~30% to 50% below pre-pandemic levels
- Higher mortgage rates and a chronic lack of supply have kept sales lower than stabilized levels
- Price trends continue to rise year over year and remain significantly higher than pre-pandemic levels (~up 40% to 80%)
- Bidding wars are down from a year ago but are still a significant phenomenon in the market due to steady demand and limited supply
- Days on market and listing discount has expanded slightly from the year-ago boom that distorted the metrics but remained lower than pre-pandemic levels.
Read the full report:
Q3 2023 Miami Beach Market Report
