Data Source: SEF MLS, Feb. 15, 2019
Amount of active listings in February increased across all surveyed neighborhoods above by an average of 6.2% with a largest increase in Key Biscayne with a jump of 11.2%. Most significant increases in median asking prices from previous month are in East Kendall (7.4%) and Upper East Side (5.7%). Coconut Grove’s single family median asking price continues to slip to $1.6 million; since October of last year it dropped by 10.1%. 90-day average sold units price per square foot continues to show strength in Upper East Side, East Kendall and Coral Gables (6.1%, 3.3%, and 2.7%). Largest inventory of unsold homes is lead by Key Biscayne (26.2 months) , followed by Miami Beach (24.4 months) in sharp contrast with merely 5.6 months of inventory in East Kendall and 6.4 months in Palmetto Bay. We should wait until next month when more sales data will be available before making conclusions on the price increases and decreases. This data is calculated comparing median sale price in January of 2019 and comparing it to median price for the entire 2018.
