June 2012 Miami Real Estate Search Porn by Realtor.com
It’s time for an overall impression of the Miami housing market courtesy of REALTOR.com. Keep in mind that these numbers are general figures and should be looked at just that. Real estate continues to be local in nature and you MUST compare apples to apples – meaning that a multi-million dollar mansion in Bay Point will not compare to a fixer upper in Little Havana (and yes… both of these would be included in the same “miami data.”) The general numbers are an indicator of an improving market though.
As per REALTOR.com, Florida was the #24 most searched market in the country in June 2012.
- Median list prices for homes in Miami, FL hit $275,000 in June 2012, a 14.34% increase from one year ago this month, and 0.00% increase from May 2012. The national median list price in June 2012 was $195,000, a 2.68% increase compared to June 2011.
- Active for sale inventory of homes in Miami, FL in June 2012 leveled out at 11,130, a -26.74% decrease compared to June 2011. National inventory counts for June 2012 were 1,886,690, a -19.35% decrease as compared to a year ago.
- The median age of inventory in Miami, FL in June was 75 days, a 2.74% increase compared to May 2012. Nationally, the median age of inventory was 84 days, a 1.20% increase compared to May.So how does Realtor.com arrive at these numbers?
Each month, Realtor.com surveys up to 250 Metro Service Areas (MSA) throughout the nation and monitors real estate trends including consumer search behavior, median list prices on for sale homes, active inventory counts and median age of inventory. The information is released to local markets to help consumers and real estate professionals as they work together to successfully navigate their local market.
Thanks again to REALTOR.com for providing these stats for us.
Ines, thanks for writing about the Realtor.com report! Miami was actually one of the top 10 MSAs last month for greatest year-over-year list price increases. The only markets that had a higher jump were Santa Barbara, Phoenix, San Francisco, Boise and Oakland.
I’m not at all surprised Jill. We have been bombarded by investors moving into our Miami real estate market and that’s always a good sign. Rock bottom is gone thought….I’m sure that applies to many “popular” areas as well.