"Active listings in Miami fell 7.0% year-over-year to 7,364, while new listings dropped 9.9% from a year ago, indicating a tightening inventory despite national growth."
"The median list price in Miami decreased by 3.8% year-over-year to $625,000, reflecting a more cautious pricing strategy from sellers who are now more disciplined."
"Miami homes sat on the market for a median of 78 days in April, which is 26 days longer than the national median, giving buyers significant leverage."
Miami's real estate market is experiencing a shift, with homes taking longer to sell and list prices decreasing. Active listings fell by 7.0% year-over-year, while new listings dropped by 9.9%. The median list price decreased by 3.8% to $625,000, indicating sellers are adjusting their pricing strategies. Homes in Miami are sitting on the market for a median of 78 days, significantly longer than the national average. This trend gives buyers more negotiating power in a previously competitive market.
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