Miami’s market sits within a national backdrop of record-high prices, limited supply, and cautious buyers carefully weighing affordability before making offers today. Economic uncertainty has kept some buyers sidelined, while also discouraging sellers, limiting fresh listings and keeping pressure on available homes in Miami. Miami sellers in the market often...
In October 2023, South Florida buyers are receiving some relief as mortgage rates have risen but home prices in Miami-Dade County have dropped for the third consecutive month. Single-family house prices decreased from $620K in August to $600K in September, while condo prices dropped from $416K to $415K. Despite the monthly price deflation, the cost of entry into the South Florida housing market is still...
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