Miami Real Estate Posts 7th Best March in County History; Total sales increase ahead of pre-pandemic levels

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Miami has the seventh-best March sales in county history; Total sales exceed pre-pandemic levels. According to March 2023 statistics published by the Miami Association of Realtors (MIAMI) and the Multiple Listing System (MLS).

Miami-Dade County recorded It was the seventh-best March sales month in county history as total sales surpassed pre-pandemic numbers and price appreciation in Miami led the way. the nation. Driven by high migration, a strong job market, and a high percentage of cash buyers, Miami's real estate market continues to outperform the country. According to the latest S&P CoreLogic Case-Shiller Index, Miami has the highest annual home price growth of any U.S. city. And in March 2023, Miami-Dade's total median prices increased for 136 consecutive months (11.3 years) while national prices decreased for the second consecutive month.

Ines Hegedus-García, MIAMI board president, said homebuyers from other states with high density, high taxes and safety concerns continue to migrate to Miami, as state data shows a increase in driver's license exchanges to Miami-Dade from California, New York and New Jersey. Domestic and global buyers and companies move here. not only because of our low taxes, but also because of Miami's emergence as a center for financial technology, pro-business government, world-renowned art scene and more.

In March 2023, a total of 2,513 homes were sold in Miami, marking the seventh-highest March in county history. Total sales for March 2023 increased 8.6% compared to March 2019, prior to the pandemic, which had 2,313 transactions. Total sales for March 2023 are also higher than Miami-Dade's all-time average number of March sales.

Compared to pre-pandemic times, 2021 and 2022 sales increased to all-time highs due to pandemic-driven home buying, historically low mortgage rates 2% and other factors. In March 2022, 3,939 sales were recorded, which were the third highest in any month in Miami-Dade history. Total home sales in Miami decreased 36.2% year-over-year in March 2023, from the historical 3,939 transactions in March 2022 to 2,513 in March 2023.

Sales of single-family homes decreased 22.5% year-over-year, from 1,411 in March 2022 to 1,093 in March 2023 due to its comparison with a historical March 2022 and the fact that the market ;

Miami records the seventh best March in the history of the county in terms of real estate sales, with an increase in total sales that exceeds pre-pandemic numbers. This is based on March 2023 statistics released by the Miami Association of Realtors (MIAMI) and the Multiple Listing System (MLS).

Miami's real estate market, driven by high migration, a strong job market and a high percentage of cash buyers, continues to outperform the rest of the country. In fact, according to the latest S&P CoreLogic Case-Shiller Index, Miami has the highest annual home price growth of any city in the United States. Additionally, in March 2023, total median prices in Miami-Dade increased by 136%. consecutive month (11.3 years), while prices nationwide decreased for the second consecutive month.

According to Inés Hegedus-García, president of MIAMI, "homebuyers from other high-density, high-tax states continue to migrate to Miami, as evidenced by state data showing an increase in driver's license exchanges from California, New York and New Jersey to Miami-Dade." "National and international buyers, as well as Like companies, they are moving here. "Not only because of our low taxes, but also because of Miami's emergence as a financial technology center, a pro-business government, a world-renowned art scene and more."

In March 2023, a total of 2,513 properties were sold in Miami, making it the seventh-largest March for sales in county history. Total sales for March 2023 increased by 8.6% compared to March 2019, prior to the pandemic, which registered 2,313 transactions. In addition, total sales for March 2023 are higher than the numberute;merest average sales in March in Miami-Dade in all of history.

Although comparisons to pre-pandemic years are the most accurate, 2021 and 2022 sales skyrocketed to record levels due to pandemic-driven home buying, at historic rates. richly low mortgage rates of 2% and other factors.

Total sales in March 2022, totaling 3,939 sales, were the third highest in Miami-Dade history. Total home sales in Miami decreased 36.2% year-over-year in March 2023, from the historical 3,939 transactions in March 2022 to 2,513 in March 2023.

Sales of single-family homes decreased 22.5% year-over-year, from 1,411 in March 2022 to 1,093 in March 2023 due to the comparison with the historical month of March 2022 and the low amount of inventory at certain points.

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