
Miami Luxury Condo Price Index
The easy-to-use Miami Residence Realty index gives you an informational high-level look at the Miami market over time from February 2006 through present. Data is presented clearly in real time for use by savvy property buyers and investors. Use this information to assess changes in the value of luxury condos over time and make smarter purchasing decisions.
Luxury Condo Price Index, Miami FLReal Time Index Levels
Jan 17, 2021Index Level
3
Months Ago
Months Ago
6
Months Ago
Months Ago
12
Months Ago
Months Ago
18
Months Ago
Months Ago
Miami Luxury Condo Prices Interactive
The interactive graph above plots shifts in our index charts that follow the local Miami real estate market. View trends over time – from 2005 through present day. Data is presented in real time. Use this graph to monitor local trends in the Miami real estate market. Click the 'reset chart' circular arrow above to return to full view.
BUY Miami luxury condo market at-a-glance
Miami BUY statistics comparison, allows you to compare current quarter with previous. BUY in Miami Beach
Median Asking Price
1st Quarter 2021
1Q
2021
$595,000
4.37%
4th Quarter 2020
4Q
2020
$569,000
3.36%
3rd Quarter 2020
3Q
2020
$549,900
3.8%
2nd Quarter 2020
2Q
2020
$529,000
5.67%
$475 per sq.ft. ( $5,111 per M2)
Total Active Listings
1st Quarter 2021
1Q
2021
9,137
13.11%
4th Quarter 2020
4Q
2020
7,939
20.82%
3rd Quarter 2020
3Q
2020
6,286
5.7%
2nd Quarter 2020
2Q
2020
5,928
9.4%
Total Value $10,798,043,122
occupancy Rate
1st Quarter 2021
1Q
2021
91.27%
1%
4th Quarter 2020
4Q
2020
92.41%
1%
3rd Quarter 2020
3Q
2020
93.99%
1%
2nd Quarter 2020
2Q
2020
94.33%
1%
Max $39,900,000 $39,900,000
0%
Min $10 $25
60%
Median vs. Average Asking Price (with Price Reduction Trend Line)
The above graphic compares the median (blue bars) vs. average (green bars) price side-by-side over time. This graph also charts price reduction percent (yellow trend line) over time.
The median housing price is that which has the same quantity of price points below and above it. For example, if there were 101 properties taken into consideration, the median would be the price in the middle with 50 lower and 50 higher. The average sales price, however, is calculated by adding all sales prices together and dividing that total by the number of individual sales.
When a home is initially listed at one price and later sold at a different price, we call that increase or decrease Negotiability, with price reduction measured as a percent.
Occupancy vs. Inventory
The graph above displays the relationship between occupancy rate (blue bars) alongside quantity sold (green trend line). A higher occupancy rate simply means properties are owner occupied or rented, while lower occupancy rates signify property vacancies.
SELL Miami luxury condo market at-a-glance
Miami BUY statistics comparison, allows you to compare current quarter with previous. BUY in Miami Beach
Average sold Price
1st Quarter 2021
1Q
2021
$757,251
2.01%
4th Quarter 2020
4Q
2020
$742,050
9.33%
3rd Quarter 2020
3Q
2020
$672,828
1.1%
2nd Quarter 2020
2Q
2020
$680,325
6.06%
$506 per sq.ft. ( $5,451 per M2)
Recorded closed sales
1st Quarter 2021
1Q
2021
1413
1%
4th Quarter 2020
4Q
2020
1421
43%
3rd Quarter 2020
3Q
2020
804
35%
2nd Quarter 2020
2Q
2020
1243
7%
Price Reduction
1st Quarter 2021
1Q
2021
6.83%
5.22%
4th Quarter 2020
4Q
2020
1.7%
4.93%
3rd Quarter 2020
3Q
2020
-3.4%
0.45%
2nd Quarter 2020
2Q
2020
-2.94%
17.46%
days on market
1st Quarter 2021
1Q
2021
270
96days
4th Quarter 2020
4Q
2020
366
69days
3rd Quarter 2020
3Q
2020
435
87days
2nd Quarter 2020
2Q
2020
522
94days
Max Rent $120,000 $45,000
63%
Min Rent $700 $1,050
33%
Average Unit Sales Price by Number of Bedrooms
In the chart above, you can track average sales price growth based on the number of bedrooms in Miami. Use this chart to track trends in sales prices for studios (purple), one-bedrooms (blue), two-bedrooms (green), three-bedrooms (yellow), and four bedrooms or more (orange) over time – from 2005 through present day.
Ownership By Country
The above pie chart illustrates the current ownership mix for property sales throughout Miami, Florida. Use this helpful chart to better understand the country of origin for those purchasing properties. (Note that owners purchasing through an LLC or Corporation are not individuals but, instead, a legal entity.)
Median Sales Price vs. Number of Sales by Quarter
The above graph displays trends in median sales prices (blue bars) alongside the number of sales per quarter (green trend line). The median sales price is the price in the middle, with exactly half of those listed homes sold above that price and half sold below that price. For a sampling of 101 homes, the median sales price would be that which has 50 homes below and 50 homes above.
RENT Miami luxury condo market at-a-glance
Miami RENT statistics comparison, allows you to compare current quarter with previous. RENT in Miami Beach
Averange Rent
1st Quarter 2021
1Q
2021
$4,978/month
11%
4th Quarter 2020
4Q
2020
$5,576/month
8%
3rd Quarter 2020
3Q
2020
$6,074/month
1%
2nd Quarter 2020
2Q
2020
$6,038/month
31%
$3 per sq.ft. ( $32 per M2)
Total Units
1st Quarter 2021
1Q
2021
3,496
44%
4th Quarter 2020
4Q
2020
1,961
37%
3rd Quarter 2020
3Q
2020
1,237
26%
2nd Quarter 2020
2Q
2020
912
68%
AVGUnit Size 1,467 sq.ft. (136 M2)
Days on Market
1st Quarter 2021
1Q
2021
168
114days
4th Quarter 2020
4Q
2020
282
42days
3rd Quarter 2020
3Q
2020
324
110days
2nd Quarter 2020
2Q
2020
434
98days
Max $120,000 $120,000
0%
Min $700 $700
0%
Miami Neighborhoods At-a-Glance
The chart above offers a convenient side-by-side comparison of important data metrics across all major Miami neighborhoods. Use up and down arrows to sort by total units, average price, average square feet, and average price per square foot. Re-click the arrow to toggle between high-to-low and low-to-high column sort.