Greater Miami Overall Residential Sales Dip 9 Percent in November

Total residential sales in Miami-Dade County fell by 8.5% year-over-year in November 2024, with single-family home sales increasing by 1.3%. The median sale price for single-family homes rose by 5.7%, marking 156 consecutive months of price increases. Condo sales declined by 15.9%, but median prices increased by 3.9%. Inventory remains 25.9% below historical averages, with a seller's market for single-family homes and a buyer's market for condos. Cash transactions accounted for 37.4% of sales, down from 40.9% a year prior.