What is happening in the Downtown Miami Condo Market?
The #'s are in for the 4th Quarter and for 2025 as well.
We have a fewa graphs to show you, so let's jump right in...
Here are the #'s for the 4th Quarter comparing it to the previous 3 Quarters.
Actives are way up, while all other indicators are in line showing similar #'s thru 4 Quarters while it seems that Median Prices hit their lowest levels of the year. Now let's look at the total #'s for 2025.
Here's a quick snapshot of the market in 2025:
410 - Closed Sales
77 - Days on Market
Median Prices... $597/Sqft and $585,000
Now we like to show you the price ranges of the Closed Sales for 2025 in Downtown Miami.
Quickly we can see that most of the Sales Activity is at under $1-Million Dollars which makes up almost 80% of all Sales then sales taper off dramatically above $3-Million Dollars.
We like to highlight the Highest Priced Closed Sale of the year.
It was 5-Bedroom Condo at One Thousand Museum which sold for $8.6-Million Dollars.
Now we are going to compare the #’s for 2025 to the previous 2 years to really give us some context.
Right away we can see a huge drop-off in the # of Sales. This is the first neighborhood that we cover where we see such a big decrease. The incredible thing about this is that look at prices... holding steady. And once again we have seen this in most of the neighborhoods we cover, Days on Market steadily increasing for the past 3 years. #'s don't look good.
For Seller's - The #'s do not look good as sales has slowed dramatically, and we did see Active Listings increase in the 4th Quarter. We caution you to price your condo a bit below market to get it sold as quickly as possible.
For Buyer's - Most key indicators here are in your favor except for it seems like prices are holding. We do feel though that with such a slowdown in sales and an increase in Active Listings that pricing may start to ease, so hang in there.
As I start my 20th year in the Miami real estate market, I can proudly say that our goal in making these videos is to help as many people as we can by sharing real market data with you to give you a better insight into the local market. The Buying and Selling of a home is one of the largest financial transactions of your life, so please make sure to work with a professional that can guide you through. We thank you for watching, and We'll see you soon.