M GROUP

Summary

December 2023 was a Buyer's market! The number of for sale listings was up 9.5% from one year earlier and up 5.5% from the previous month. The number of sold listings increased 50% year over year and increased 50% month over month. The number of under contract listings was down 60% compared to previous month and down 33% compared to previous year. The Months of Inventory based on Closed Sales was 38.5, down 27% from the previous year.

The Average Sold Price per Square Footage was down 58% compared to previous month and down 37% compared to last year. The Median Sold Price decreased by 92% from last month. The Average Sold Price also increased by 86% from last month. Based on the 6 month trend, the Average Sold Price trend was "Depreciating" and the Median Sold Price trend was "Depreciating".

The Average Days on Market showed a neutral trend, a decrease of 45% compared to previous year. The ratio of Sold Price vs. Original List Price was 78%, a increase of 5% compared to previous year.

Single Family Waterfront for sale in Miami Beach in December 2023 is 10 units. It is up 10% compared to last month and up 6% compared to last year.

Single Family Waterfront sold in Miami Beach in December 2023 is 3 units. It is up 50% compared to last month and up 50% compared to last year.

Single Family Waterfront under contract in Miami Beach in December 2023 is 2 units. It is down 60% compared to last month and down 33% compared to last year.

Condo and Townhouse for sale $1M+ on Miami Beach in December 2023 is 498 units. It is up +2% compared to last month and up 23% compared to last year.

Condo and Townhouse for sold $1M+ on Miami Beach in December 2023 is 25 units. It is up +39% compared to last month and down -3% compared to last year.

Condo and Townhouse for under contract $1M+ on Miami Beach in December 2023 is 33 units. It is up +18% compared to last month and up 16% compared to last year.