M GROUP

Summary

December 2022 was a Buyer's market! The number of for sale listings was up 25% from one year earlier and down 2% from the previous month. The number of sold listings decreased 54% year over year and decreased 10% month over month. The number of under contract listings was down 2% compared to previous month and down 42% compared to previous year. The Months of Inventory based on Closed Sales was 6.5, up 172% from the previous year.

The Average Sold Price per Square Footage was down 1.5% compared to previous month and down 8% compared to last year. The Median Sold Price decreased by 56% from last month. The Average Sold Price also decreased by 5% from last month. Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Neutral".

The Average Days on Market showed a neutral trend, a decrease of 18% compared to previous year. The ratio of Sold Price vs. Original List Price was 91%, a decrease of 7% compared to previous year.

Single Family Waterfront for sale in Miami Beach in December 2022 is 105 units. It is up 5% compared to last month and up 52% compared to last year.

Single Family Waterfront sold in Miami Beach in December 2022 is 2 units. It is down 33% compared to last month and down 85% compared to last year.

Single Family Waterfront under contract in Miami Beach in December 2022 is 3 units. It is the same compared to last month and down 80% compared to last year.

Condo and Townhouse for sale $1M+ on Miami Beach in December 2022 is 405 units. It is down 9.5% compared to last month and up 0.5% compared to last year.

Condo and Townhouse for sold $1M+ on Miami Beach in December 2022 is 17 units. It is down 39% compared to last month and down 75% compared to last year.

Condo and Townhouse for under contract $1M+ on Miami Beach in December 2022 is 26 units. It is up 18% compared to last month and lower 65% compared to last year.