MIAMI BEACH Q3 2023

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

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