M GROUP

MARKET TREND

Q3 2022
Miami Beach

Summary

September 2022 is a Buyer's market! The number of for sale listings was down 5% from one year earlier and down 5% from the previous month. The number of sold listings decreased 57% year over year and increased 200% month over month. The number of under contract listings was up 500% compared to previous month and down 25% compared to previous year. The Months of Inventory based on Closed Sales is 28, up 128% from the previous year.

The Average Sold Price per Square Footage was down 4% compared to previous month and down 2% compared to last year. The Median Sold Price decreased by 56% from last month. The Average Sold Price also decreased by 23% from last month. Based on the 6 month trend, the Average Sold Price trend is "Depreciating" and the Median Sold Price trend is "Depreciating".

The Average Days on Market showed a downward trend, a decrease of 54% compared to previous year. The ratio of Sold Price vs. Original List Price is 90%, a decrease of 2% compared to previous year.

SINGLE FAMILY
WATERFRONT

Single Family Dry Lot for sale in Miami Beach in September 2022 is 85 units. It is down 5% compared to last month and down 21% compared to last year.

Single Family Dry Lot sold in Miami Beach in September 2022 is 3 units. It is up 200% compared to last month and down 57% compared to last year.

Single Family Dry Lot under contract in Miami Beach in September 2022 is 6 units. It is up 500% compared to last month and down 25% compared to last year.

For Sale
SEPTEMBER 2022
85
-4.5%
MoM
-4.5%
YoY
Sold
SEPTEMBER 2022
3
+200%
MoM
-72%
YoY
Under Contract
SEPTEMBER 2022
6
+500%
MoM
-68%
YoY
Single Family Waterfront Average Price per SQFT
SEPTEMBER 2022
$2,024
-4%
MoM
+1%
YoY
Single Family Waterfront Month of Inventory
SEPTEMBER 2022
28
-68%
MoM
+416%
YoY

SINGLE FAMILY
DRY LOT

Single Family Dry Lot for sale in Miami Beach in September 2022 is 113 units. It is down 4% compared to last month and up 14% compared to last year.

Single Family Dry Lot sold in Miami Beach in September 2022 is 52 units. It is down 53% compared to last month and down 71% compared to last year.

Single Family Dry Lot under contract in Miami Beach in September 2022 is 12 units. It is up 25% compared to last month and down 6% compared to last year.

For Sale
SEPTEMBER 2022
113
-4%
MoM
+14%
YoY
Sold
SEPTEMBER 2022
8
-53%
MoM
-46%
YoY
Under Contract
SEPTEMBER 2022
15
+25%
MoM
-36%
YoY
Single Family Dry Lot Average Price per SQFT
SEPTEMBER 2022
$900
-17.5%
MoM
+14.7%
YoY
Single Family Dry Lot Month of Inventory
SEPTEMBER 2022
14
+103%
MoM
+122%
YoY

 

CONDO AND TOWNHOUSE

Multi Family for sale $1M+ on Miami Beach in September 2022 is 78 units. It is down 2.5% compared to last month and down 21.2% compared to last year.

Multi Family for sold $1M+ on Miami Beach in September 2022 is 6 units. It is down 14.3% compared to last month and up 100% compared to last year.

Multi Family for under contract $1M+ on Miami Beach in September 2022 is 6 units versus 1 last month.. It is up 500% compared to last month and lower 25% compared to last year.

For Sale
SEPTEMBER 2022
331
+1.8%
MoM
-17%
YoY
Closed
SEPTEMBER 2022
33
+10%
MoM
-30%
YoY
Under Contract
SEPTEMBER 2022
25
-31%
MoM
-20%
YoY
Condo/Townhouse Average price per SQFT
SEPTEMBER 2022
$1,538
+14%
MoM
+9%
YoY
Condo/Townhouse Month of Inventory
SEPTEMBER 2022
10
-7.4%
MoM
+4.7%
YoY