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Greater Downtown Miami area condo market update: April 2021

Check out stats for the condo market in the Greater Downtown Miami area which includes, Park West, Central Business District, Brickell, Edgewater and Midtown/Wynwood.

Months of Inventory

Buyer's market = More than 6 months of inventory

Seller's market = Less than 3 months of inventory

Neutral market = 3-6 months of inventory

This graph shows the months of inventory for Miami condos are at 6.6 months
April 2021 Miami Condo Months of Inventory

Months of Inventory based on Closed Sales in April 2021: 6.6

  • Down 4.3% compared to last month

  • Down 82.5% compared to last year

The condo market is beginning to pick up as the inventory shortage appears to be putting a huge dent into the surplus of condo inventory. The amount of months of inventory has drastically dropped. It looks like we are moving into a seller's market in the Metro Miami area which includes Brickell, Downtown Miami and Edgewater.


For Sale vs Sold

This graph shows that condos in the Greater Downtown Miami area are on average listed at $909k and are being sold on average for $623k.
Miami Condos For Sale vs Sold Prices

Average For Sale Price (in thousand) in April 2021: $909,000

  • Up 5.2% compared to last month

  • Up 12.9% compared to last year

April 2021 Average Sale Price is Appreciating

Average Sold Price in April 2021: $623,000

  • Up 7% compared to last month

  • Up 35.7% compared to last year

April 2021 Average Sold Price is Appreciating


Day on the market (DOM)

In April 2021 the average Days on Market trend remains steady. Average Days on Market in April 2021: 161

  • Down 0.6% compared to last month•

  • Up 0.6% compared to last year

As of April 2021, Sold/Original List Price Ratio is rising. Sold/Original List Price % in April 2021: 92%

  • Up 3.4% compared to last month

  • Up 3.4% compared to last year


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