There has been an uptick in a number of active condominium listings across the board with a sole exception of South Beach. The largest inventory increase of 7.3% was observed in Sunny Isles which just surpassed 3 years at 36.7 months. Inventory is calculated by dividing the number of active listings by a number of sold listings in the last 365 days. The last row of the table above depicts median sale figure year-to-date 2019 over median sold price in 2018. Certain neighborhoods such as Key Biscayne and Coconut Grove have limited monthly sales velocities hence data from the beginning of the year can easily skewed one way or the other. Coconut Grove posted strong gains of 19.6% when comparing median sales price in 2018 to 2017 as shown in our January Market Snapshot and while January sales show a continuation of such trend, there has been a slight erosion of sold prices on per-square-foot basis which on trailing 90-days fell by 2.2%. Number of sold condos in the last 90 days fell across all neighborhoods with the largest drop in South Beach (16.8%).
