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Market Trends – Key Biscayne

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Market Trends – Key Biscayne

Below you will find the latests market trends for the Key Biscayne area in Miami.

 

Number of Homes For Sale vs. Sold vs. Pended (Last 2 years)

May 2017 is a Buyer’s market**

Home For Sale in May 2017 is 412 units. It is down 0.2% compared to the last month and up 16.7% compared to the last year.
Home Closed in May 2017 is 19 units. It is up 26.7% compared to the last month and down 5% compared to the last year.
Home Placed under Contract in May 2017 is 11 units. It is down 56% compared to the last month and down 35.3% compared to the last year.

**Buyer’s market: more than 6 months of inventory based on closed sales. Seller’s market: less than 3 months of inventory based on closed sales. Neutral market: 3 – 6 months of inventory based on closed sales.

 

Months of Inventory Based on Closed Sales (Last 2 years)

May 2017 is a Buyer’s market**
Months of Inventory based on Closed Sales in May 2017 is 21.7. It is down 21.1% compared to the last month and up 22.7% compared to the last year.

**Buyer’s market: more than 6 months of inventory based on closed sales. Seller’s market: less than 3 months of inventory based on closed sales. Neutral market: 3 – 6 months of inventory based on closed sales.

 

*All reports are published June 2017, based on data available at the end of May 2017, except for the today stats. This representation is based in whole or in part on data supplied by the Realtor Association of Miami, the Greater Fort Lauderdale Realtors, or the Southeast Florida Multiple Listing Service (MLS). Neither the Associations nor their MLS guarantees, or are in any way responsible for its accuracy. Data maintained by the Associations or their MLS may not reflect all real estate activity in the market. This statistical information is produced by and for the exclusive use of EWM Realty International. Report reflects activity by all Brokers participating in the MLS.

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