M GROUP

Summary

March 2023 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 March 2023 is 104 units. It is up 7% compared to last month and up 39% compared to last year.

Single Family Waterfront sold in Miami Beach in March 2023 is 22 units. It is up 47% compared to last month and down 8% compared to last year.

Single Family Waterfront under contract in Miami Beach in March 2023 is 3 units. It is down 67% compared to last month and down 80% compared to last year.

Condo and Townhouse for sale $1M+ on Miami Beach in March 2023 is 439 units. It is down 2% compared to last month and up 30% compared to last year.

Condo and Townhouse for sold $1M+ on Miami Beach in March 2023 is 50 units. It is up 73% compared to last month and down 21% compared to last year.

Condo and Townhouse for under contract $1M+ on Miami Beach in March 2023 is 47 units. It is down 8% compared to last month and lower 38% compared to last year.